Two-Duplex Residential Income
For Sale
Contact for pricing
1450-1470 SW 2nd Avenue, Dania Beach, FL 33004
Two concrete-block duplex buildings with multiple bedrooms, off-street parking, and in-unit laundry options.
Property Size4,292 SF
Price / SF$279.59
Days on Market55
Property Features for 1450-1470 SW 2nd Avenue
General Information
Standard status
Active
Size
4,292 SF
Total Parking Spaces
8
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$63,850
Additional Details
Fenced Yard
Yes
Multifamily Units
4
Building Details
Year Built
1980
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Evan Kristol · License #FL SL640466
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 12 at 4:44AM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
This for-sale residential income property consists of two duplex buildings built in 1980 with concrete block construction. Each building features one two-bedroom apartment and one three-bedroom apartment. The two-bedroom units are approximately 1,000 SF, while the three-bedroom units are approximately 1,146 SF. The apartments include central air conditioning and heat, individual hot water heaters, and several units have washer and dryers in the units. Tenant responsibility includes electricity, while the owner pays for water and sewer. Trash removal is included in the property taxes. The property also offers ample off-street parking, a private fenced yard, and ample green space.
The duplexes are located in Dania Beach, several blocks west of US-1 and just north of Sheridan Street. The location is a short walk to Oakwood Plaza, a large retail center that includes major tenants such as Home Depot, BJ, Dick’s, Dave & Busters, Marshalls, and additional restaurants and retailers. Just north of Oakwood Plaza is Dania Point, an open-air mixed-use lifestyle center with retail, hospitality, office space, and entertainment components.
This configuration can fit an owner seeking a straightforward two-building, four-unit duplex setup with utilities structured so tenants handle electricity while the owner covers water and sewer. With on-site parking, yard space, and in-unit laundry in select units, the layout supports comfortable tenant use and practical property management for an investor or buyer looking to operate a small residential income asset.
The duplexes are located in Dania Beach, several blocks west of US-1 and just north of Sheridan Street. The location is a short walk to Oakwood Plaza, a large retail center that includes major tenants such as Home Depot, BJ, Dick’s, Dave & Busters, Marshalls, and additional restaurants and retailers. Just north of Oakwood Plaza is Dania Point, an open-air mixed-use lifestyle center with retail, hospitality, office space, and entertainment components.
This configuration can fit an owner seeking a straightforward two-building, four-unit duplex setup with utilities structured so tenants handle electricity while the owner covers water and sewer. With on-site parking, yard space, and in-unit laundry in select units, the layout supports comfortable tenant use and practical property management for an investor or buyer looking to operate a small residential income asset.
Key Highlights
- 1980‑built Dania Beach duplex property with concrete block construction
- 2 buildings at 1450 & 1470 SW 2nd Avenue, each with a 2‑bedroom unit and a 3‑bedroom unit
- Units feature central A/C and heat plus individual hot water heaters
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
$71,547
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
5.96%
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%
$1,430,940
$1.4M
Cap Rate 7%
$1,022,100
$1.0M
Cap Rate 9%
$794,967
$795.0K
Market Conditions
NOI Build-Up for 4,292 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
$108.2K $25.20/SF
− Vacancy
−$5.9K −$1.39/SF
EGI
$102.2K $23.81/SF
− OpEx
−$30.7K −$7.14/SF
NOI
$71.5K $16.67/SF
Area
Broward County, 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%
$1,430,940
Cap Rate 7%
$1,022,100
Cap Rate 9%
$794,967
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$894.3K – $1.19M
NOI $71,547 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$943.0K
$825.1K – $1.10M
NOI $66,008 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,426 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two concrete-block duplex buildings with multiple bedrooms, off-street parking, and in-unit laundry options.
Where is this duplex located?
The property is located at 1450-1470 SW 2nd Avenue Dania Beach, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1980‑built Dania Beach duplex property with concrete block construction; 2 buildings at 1450 & 1470 SW 2nd Avenue, each with a 2‑bedroom unit and a 3‑bedroom unit; Units feature central A/C and heat plus individual hot water heaters
