Updated Fort Lauderdale
New
For Sale
$1,275,000
1352 Holly Heights Drive, Fort Lauderdale, FL 33304
Furnished multifamily property with upgraded building systems and flexible rental configuration near beaches, dining, shopping, and transportation routes.
Property Size3,160 SF
Price / SF$403.48
Days on Market3
Property Features for 1352 Holly Heights Drive
General Information
Standard status
Active
Size
3,160 SF
Total Parking Spaces
7
Property subtype
Residential Income
Zoning
RMM-25
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$14,715
Building Details
Building Size
3,160 SF
Year Built
1969
Stories
1
Listing Agency:
LoKation
(954) 644-9848
Listed By:
Bradley C Kady · License #3270645
(954) 644-9848
Source:
Laerrealty
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 7:14AM
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 LoKation
Investment Insights
Based on property information with market context.
This 3,160-square-foot quadplex, built in 1969, contains three 2-bedroom/1-bath residences and one 1-bedroom/1-bath residence. All four units are furnished, supporting vacation, seasonal, or traditional rental use. Recent property work includes a replaced roof, newer A/C systems, impact-rated windows and doors, and mostly replaced underground drain lines.
The property is located at 1352 Holly Heights Drive in Fort Lauderdale, north of downtown and near the area’s beaches, dining, shopping, entertainment, and major transportation routes. RMM-25 zoning and the varied unit mix provide a defined multifamily configuration for an owner seeking furnished residential income space.
The property is located at 1352 Holly Heights Drive in Fort Lauderdale, north of downtown and near the area’s beaches, dining, shopping, entertainment, and major transportation routes. RMM-25 zoning and the varied unit mix provide a defined multifamily configuration for an owner seeking furnished residential income space.
Key Highlights
- Four‑unit property with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 3,160 SF quadplex built in 1969
- All residences convey fully furnished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,677
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,540
$1.1M
Cap Rate 7%
$752,529
$752.5K
Cap Rate 9%
$585,300
$585.3K
Market Conditions
NOI Build-Up for 3,160 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.6K $25.20/SF
− Vacancy
−$4.4K −$1.39/SF
EGI
$75.3K $23.81/SF
− OpEx
−$22.6K −$7.14/SF
NOI
$52.7K $16.67/SF
Area
Fort Lauderdale, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,540
Cap Rate 7%
$752,529
Cap Rate 9%
$585,300
Alternative Uses
Best Use
Multifamily LT 5
$752.5K
$658.5K – $878.0K
NOI $52,677 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$677.9K
$593.2K – $790.9K
NOI $47,452 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,646 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Furnished multifamily property with upgraded building systems and flexible rental configuration near beaches, dining, shopping, and transportation routes.
Where is this quadplex located?
The property is located at 1352 Holly Heights Drive Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Four‑unit property with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 3,160 SF quadplex built in 1969; All residences convey fully furnished
