Four-Unit Multifamily
New
For Sale
$824,000
1480 NW 20th Court, Fort Lauderdale, FL 33311
Annual leases, refreshed interiors, and fenced outdoor space define this established rental property.
Property Size2,187 SF
Price / SF$376.77
Days on Market5
Property Features for 1480 NW 20th Court
General Information
Standard status
Active
Size
2,187 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RM-15
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA, 1 x efficiency
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,640
Amenities
fenced courtyard
Building Details
Building Size
2,187 SF
Year Built
1973
Stories
1
Listing Agency:
Diamante Real Estate LLC
(954) 270-0863
Listed By:
Anthony G Diamante · License #3049006
(954) 270-0863
Source:
Laerrealty
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 7 at 12:47AM
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 Diamante Real Estate LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property, built in 1973, offers a mix of two one-bedroom/one-bath units, one two-bedroom/one-bath unit, and one efficiency. Three units have received updates since 2018, including kitchens with granite, new bathrooms, appliances, and porcelain tile. Property improvements include a roof installed 6 years ago, four newer AC systems added since 2018, a mini-split installed in the efficiency less than 24 months ago, impact windows completed in 2024, and updated electrical panels. All four units are occupied under annual leases.
The property is located at 1480 NW 20th Court in Fort Lauderdale, adjacent to Mills Pond Park, which includes football, soccer, baseball, and recreational facilities. A fenced courtyard provides outdoor space, while open parking is available for tenants. The property is zoned RM-15.
The property is located at 1480 NW 20th Court in Fort Lauderdale, adjacent to Mills Pond Park, which includes football, soccer, baseball, and recreational facilities. A fenced courtyard provides outdoor space, while open parking is available for tenants. The property is zoned RM-15.
Key Highlights
- Four‑unit configuration with two 1/1s, one 2/1, and one efficiency
- All tenants are on annual leases
- Three units remodeled since 2018 with kitchens, granite, baths, appliances, and porcelain tile
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
$36,457
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
4.42%
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%
$729,140
$729.1K
Cap Rate 7%
$520,814
$520.8K
Cap Rate 9%
$405,078
$405.1K
Market Conditions
NOI Build-Up for 2,187 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
$55.1K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$52.1K $23.81/SF
− OpEx
−$15.6K −$7.14/SF
NOI
$36.5K $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%
$729,140
Cap Rate 7%
$520,814
Cap Rate 9%
$405,078
Alternative Uses
Best Use
Multifamily LT 5
$520.8K
$455.7K – $607.6K
NOI $36,457 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$469.2K
$410.5K – $547.4K
NOI $32,841 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,876 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Annual leases, refreshed interiors, and fenced outdoor space define this established rental property.
Where is this quadplex located?
The property is located at 1480 NW 20th Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $824,000.
What are key features of this property?
This property features: Four‑unit configuration with two 1/1s, one 2/1, and one efficiency; All tenants are on annual leases; Three units remodeled since 2018 with kitchens, granite, baths, appliances, and porcelain tile
