Boutique Apartment
1501 Southeast 2nd Court Unit 110 Fort Lauderdale, FL 33301
For Sale
$3,000,000
Charming 13-unit boutique apartment building near Las Olas Boulevard, downtown, and the beaches.
Property Size8,497 SF
Price / SF$353.07
Days on Market2361
Property Features for 1501 Southeast 2nd Court Unit 110
General Information
- Standard status
- Active
- Size
- 8,497 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1939
Listing Agency:
EWM Realty International
(305) 343-0517
Listed By:
Josephine Pampanas · License #0585320
(305) 343-0517
Source:
Compass
Added: Feb 5, 2020
Changed: Jul 22
Last Checked: Jul 23 at 8:20AM
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 EWM Realty International
Investment Insights
Based on property information with market context.
This charming boutique apartment building offers 13 units. It is presented for sale as a small multifamily property with a manageable, income-focused configuration.
The building is described as being one short block from Las Olas Boulevard, an area known for art, nightlife, and restaurants, and it is also noted as being close to downtown and beaches.
The listing is for 13-unit multifamily ownership, with the property located at 1501 Southeast 2nd Court, Unit 110, Fort Lauderdale, FL 33301.
The building is described as being one short block from Las Olas Boulevard, an area known for art, nightlife, and restaurants, and it is also noted as being close to downtown and beaches.
The listing is for 13-unit multifamily ownership, with the property located at 1501 Southeast 2nd Court, Unit 110, Fort Lauderdale, FL 33301.
Key Highlights
- 13‑unit boutique apartment building
- Built in 1939
- Located one short block from Las Olas Boulevard
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 | $244.7k | $28.80 |
| − Vacancy | −$12.7k | −$1.50 |
| EGI | $232.0k | $27.30 |
| − OpEx | −$104.4k | −$12.29 |
| NOI | $127.6k | $15.02 |
8,497 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.13M
NOI $127,594 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.71M
$5.00M – $6.66M
NOI $399,699 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Charming 13-unit boutique apartment building near Las Olas Boulevard, downtown, and the beaches.
Where is this apartment building located?
The property is located at 1501 Southeast 2nd Court Unit 110 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 boutique apartment building; Built in 1939; Located one short block from Las Olas Boulevard
