13-Unit Apartment
For Sale
$3,000,000
Pending
1501 SE 2nd Ct Unit 1-10, Fort Lauderdale, FL 33301
Apartment property near Las Olas Boulevard with on-site parking and access to downtown and beaches.
Property Size6,064 SF
Days on Market2378
Property Features for 1501 SE 2nd Ct Unit 1-10
General Information
Standard status
Pending
Size
6,064 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
13
Amenities
3
8 Parking Spaces.
Building Details
Year Built
1939
Buildings
1
Listing Agency:
BHHS EWM Realty
(305) 343-0517
Listed By:
Josephine Pampanas · License #0585320
(305) 343-0517
Source:
Xome
Added: Feb 1, 2020
Changed: Jul 31
Last Checked: Jul 31 at 1:43PM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This 13-unit apartment building contains 6,064 square feet and was built in 1939. The property includes 8 parking spaces and is identified as a boutique apartment building.
The property is one short block from Las Olas Boulevard, with its art, nightlife, and restaurants. Downtown and the beaches are also nearby, placing the building within reach of Fort Lauderdale’s central commercial and recreational areas.
The property is one short block from Las Olas Boulevard, with its art, nightlife, and restaurants. Downtown and the beaches are also nearby, placing the building within reach of Fort Lauderdale’s central commercial and recreational areas.
Key Highlights
- 13‑unit apartment building
- 6,064 square feet
- 8 parking spaces
Financial Insights For Apartment 5plus
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 | $174.6k | $28.80 |
| − Vacancy | −$9.1k | −$1.50 |
| EGI | $165.6k | $27.30 |
| − OpEx | −$74.5k | −$12.29 |
| NOI | $91.1k | $15.02 |
6,064 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,059 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.75M
NOI $285,251 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
5,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
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?
Apartment building - Apartment property near Las Olas Boulevard with on-site parking and access to downtown and beaches.
Where is this apartment building located?
The property is located at 1501 SE 2nd Ct Unit 1-10 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 13‑unit apartment building; 6,064 square feet; 8 parking spaces
