Updated Four-Unit Apartment
New
For Sale
$824,000
1480 Nw 20th Ct, Fort Lauderdale, FL 33311
Annual leases, impact windows, and a fenced courtyard support the property's residential configuration.
Property Size2,187 SF
Price / SF$376.77
Days on Market3
Property Features for 1480 Nw 20th Ct
General Information
Standard status
Active
Size
2,187 SF
Property subtype
Residential Income
Zoning
RM-15
Site & Location
Neighborhood
Lfmn
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
Ceramic Tile
true
Impact Glass
< 1/4 Acre
6
false
2187
Building Details
Building Size
2,187 SF
Year Built
1973
Stories
1
Listing Agency:
Diamante Real Estate LLC
(800) 326-2567
Listed By:
Michael Major · License #BK3263112
(954) 642-4235
Source:
Majorrealestate
Added: Oct 30
Last Checked: Oct 30 at 1:45AM
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
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains two one-bedroom, one-bath units, a two-bedroom, one-bath unit, and an efficiency, totaling 2,187 square feet. Three units have received interior updates since 2018, including kitchens, bathrooms, appliances, and porcelain tile. The building has updated electrical panels, a roof installed six years ago, and four newer air-conditioning systems dating from 2018 onward; a mini-split was added to the efficiency less than 24 months ago. Impact windows were installed in 2024.
All four units are occupied under annual leases. The property also includes a fenced courtyard and open tenant parking. It is next to Mills Pond Park, which offers football, soccer, baseball, and other recreational activities. The zoning designation is RM-15.
All four units are occupied under annual leases. The property also includes a fenced courtyard and open tenant parking. It is next to Mills Pond Park, which offers football, soccer, baseball, and other recreational activities. The zoning designation is RM-15.
Key Highlights
- Four units: two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one efficiency
- 2,187 square feet; built in 1973
- Three units remodeled since 2018 with updated kitchens, baths, appliances, and porcelain tile
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,457
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Annual leases, impact windows, and a fenced courtyard support the property's residential configuration.
Where is this quadplex located?
The property is located at 1480 Nw 20th Ct 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 units: two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one efficiency; 2,187 square feet; built in 1973; Three units remodeled since 2018 with updated kitchens, baths, appliances, and porcelain tile
