Duplex with Recent System
1500 NW 2nd Avenue Fort Lauderdale, FL 33311
1500 NW 2nd Avenue, Fort Lauderdale, FL, 33311
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For Sale
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Vacant duplex in Fort Lauderdale with newer water heaters and updated interior air-handling units, sold without outdoor A/C condensers.
Property Size1,488 SF
Price / SF$352.82
Days on Market103
Property Features for 1500 NW 2nd Avenue
General Information
- Standard status
- Active
- Size
- 1,488 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agency
Charles Rutenberg Realty Orlan
Listed by
Daniel Ferreira · License #3620308
Source
Crexi
Added: Apr 12 Updated: Jul 22 at 10:28AM Checked: Jul 22 at 10:28AM
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 Charles Rutenberg Realty Orlan
Investment Insights
Based on property information with market context.
This Fort Lauderdale duplex is being sold vacant, giving buyers flexibility to renovate, reposition, and lease. Recent updates include newer water heaters and updated interior air-handling units, along with other improvements intended to help reduce near-term capital expenses.
The property is located at 1500 NW 2nd Avenue, Fort Lauderdale, FL 33311. The sale is noted as being without outdoor A/C condenser units, which may be an important consideration for buyers planning the next round of mechanical upgrades or re-leasing.
The current offering is described as a value-add opportunity, with a projected cap rate of 6%+. The property’s duplex format supports an income-producing residential use.
The property is located at 1500 NW 2nd Avenue, Fort Lauderdale, FL 33311. The sale is noted as being without outdoor A/C condenser units, which may be an important consideration for buyers planning the next round of mechanical upgrades or re-leasing.
The current offering is described as a value-add opportunity, with a projected cap rate of 6%+. The property’s duplex format supports an income-producing residential use.
Key Highlights
- Ft. Lauderdale duplex built in 1973
- Property delivered vacant, allowing immediate renovation/repositioning and leasing
- Recent updates include newer water heaters
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.5k | $25.20 |
| − Vacancy | −$2.1k | −$1.39 |
| EGI | $35.4k | $23.81 |
| − OpEx | −$10.6k | −$7.14 |
| NOI | $24.8k | $16.67 |
1,488 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$354.4K
$310.1K – $413.4K
NOI $24,805 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$319.2K
$279.3K – $372.4K
NOI $22,344 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$999.9K
$875.0K – $1.17M
NOI $69,996 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Vacant duplex in Fort Lauderdale with newer water heaters and updated interior air-handling units, sold without outdoor A/C condensers.
Where is this duplex located?
The property is located at 1500 NW 2nd Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Ft. Lauderdale duplex built in 1973; Property delivered vacant, allowing immediate renovation/repositioning and leasing; Recent updates include newer water heaters
