Two-Duplex Residential Income
For Sale
$1,200,000
1450 SW 2nd Ave, Dania Beach, FL 33004
Two 1980 concrete-block duplexes with central A/C, private yards, and off-street parking near major retail and employment nodes.
Property Size4,292 SF
Days on Market66
Property Features for 1450 SW 2nd Ave
General Information
Standard status
Active
Size
4,292 SF
Property subtype
Multifamily
Occupancy
95%
Additional Details
Cap Rate
5.32%
Fenced Yard
Yes
Multifamily Units
4
Amenities
Excellent Dania Beach location near US-1
Close to major employment centers
Near shopping, restaurants and entertainment
Attractive unit mix of 2 & 3-bedroom apartments
Central air-conditioning & heat
Select units have washer and dryers
Building Details
Building Size
4,292 SF
Year Built
1980
Units
4
Listing Agency:
Fort Lauderdale Office
(954) 245-3459
Listed By:
Evan Kristol · License #License(s): FL: SL640466
(954) 245-3459
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 31 at 12:33PM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
This for-sale residential income property consists of two duplex buildings constructed in 1980 with concrete block construction. Each building offers a two-bedroom apartment of approximately 1,000 SF and a three-bedroom apartment of approximately 1,146 SF. The units feature central air conditioning and heat, individual hot water heaters, and several units include in-unit washer and dryers. Tenant-paid electricity is separated from the owner-paid water/sewer, and trash removal is included in the property taxes. Outside, the property provides ample off-street parking for residents, along with a private fenced yard and ample green space.
1450 and 1470 SW 2nd Avenue are located in Dania Beach, several blocks west of US-1 and just north of Sheridan Street. The remarks note a block west position relative to Oakwood Plaza, a 900,000 SF retail center that includes Home Depot, BJ’s, Dick’s, Dave & Busters, Marshalls, and additional stores and restaurants. Just north of Oakwood Plaza is Dania Point, described as a newly developed open-air mixed-use lifestyle center with 750,000 SF of retail space, 950 hotel rooms, office space, and entertainment areas. Dania Beach is also noted as being south of Fort Lauderdale/Hollywood International Airport and Port Everglades.
For buyers or operators seeking a small multifamily holding, the unit mix provides both two- and three-bedroom layouts under one property profile, supported by in-unit laundry in select units and resident parking. The property is currently described as rented below market, offering investors the possibility to align rents through ongoing management.
1450 and 1470 SW 2nd Avenue are located in Dania Beach, several blocks west of US-1 and just north of Sheridan Street. The remarks note a block west position relative to Oakwood Plaza, a 900,000 SF retail center that includes Home Depot, BJ’s, Dick’s, Dave & Busters, Marshalls, and additional stores and restaurants. Just north of Oakwood Plaza is Dania Point, described as a newly developed open-air mixed-use lifestyle center with 750,000 SF of retail space, 950 hotel rooms, office space, and entertainment areas. Dania Beach is also noted as being south of Fort Lauderdale/Hollywood International Airport and Port Everglades.
For buyers or operators seeking a small multifamily holding, the unit mix provides both two- and three-bedroom layouts under one property profile, supported by in-unit laundry in select units and resident parking. The property is currently described as rented below market, offering investors the possibility to align rents through ongoing management.
Key Highlights
- Two duplex buildings at 1450 and 1470 SW 2nd Avenue in Dania Beach (developed in 1980).
- Each building offers one 2‑bedroom unit (~1,000 SF) and one 3‑bedroom unit (~1,146 SF).
- Units feature central A/C and heat, with 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?
Quadplex - Two 1980 concrete-block duplexes with central A/C, private yards, and off-street parking near major retail and employment nodes.
Where is this quadplex located?
The property is located at 1450 SW 2nd Ave 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: Two duplex buildings at 1450 and 1470 SW 2nd Avenue in Dania Beach (developed in 1980).; Each building offers one 2‑bedroom unit (~1,000 SF) and one 3‑bedroom unit (~1,146 SF).; Units feature central A/C and heat, with individual hot water heaters.
