24-Unit Apartment
For Sale
$6,200,000
1916 Southwest 11th Street, Fort Lauderdale, FL 33312
Fully occupied multifamily property with a varied unit mix and minimal deferred maintenance.
Property Size16,911 SF
Price / SF$366.63
Days on Market898
Property Features for 1916 Southwest 11th Street
General Information
Standard status
Active
Size
16,911 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
minimal deferred maintenance
Units
Unit Mix
4 x 2BR/2BA, 4 x 2BR/1BA, 16 x 1BR/1BA
Multifamily Units
24
Additional Details
Average Monthly Rent
$1,712
Taxes and HOA fees
Annual Taxes
$97,361
Building Details
Year Built
1967
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Alexis Lizama · License #3438878
(954) 963-1600
Source:
Compass
Added: May 7, 2024
Changed: Oct 11
Last Checked: Oct 20 at 11:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Kings Pointe II Apartments is a 24-unit multifamily property totaling 16,911 square feet. The building dates to 1967 and includes four two-bedroom, two-bath units, four two-bedroom, one-bath units, and sixteen one-bedroom, one-bath units. Current occupancy is 100%, and the property is described as having minimal deferred maintenance.
A metal roof was completed in 2012. The building’s 10-year recertification was completed on 11/03/2020. The property is located at 1916 Southwest 11th Street in Fort Lauderdale, Florida 33312.
A metal roof was completed in 2012. The building’s 10-year recertification was completed on 11/03/2020. The property is located at 1916 Southwest 11th Street in Fort Lauderdale, Florida 33312.
Key Highlights
- 24‑unit apartment building totaling 16,911 square feet
- Unit mix includes four 2‑bedroom/2‑bath, four 2‑bedroom/1‑bath, and sixteen 1‑bedroom/1‑bath units
- 100% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,941
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,078,820
$5.1M
Cap Rate 7%
$3,627,729
$3.6M
Cap Rate 9%
$2,821,567
$2.8M
Market Conditions
NOI Build-Up for 16,911 SF
Gross rent
$487.0K $28.80/SF
− Vacancy
−$25.3K −$1.50/SF
EGI
$461.7K $27.30/SF
− OpEx
−$207.8K −$12.29/SF
NOI
$253.9K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,078,820
Cap Rate 7%
$3,627,729
Cap Rate 9%
$2,821,567
Alternative Uses
Best Use
Apartment 5plus
$3.63M
$3.17M – $4.23M
NOI $253,941 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.36M
$9.94M – $13.26M
NOI $795,493 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
24
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with a varied unit mix and minimal deferred maintenance.
Where is this apartment building located?
The property is located at 1916 Southwest 11th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 24‑unit apartment building totaling 16,911 square feet; Unit mix includes four 2‑bedroom/2‑bath, four 2‑bedroom/1‑bath, and sixteen 1‑bedroom/1‑bath units; 100% occupancy
