4-Unit Multifamily
1506 Northeast 5th Avenue Fort Lauderdale, FL 33304
1506 Northeast 5th Avenue, Fort Lauderdale, FL, 33304
$800,000
For Sale
$800,000
Four-unit multifamily building with approximately 2,269 sf of improvements on a 6,507 sf lot, zoned RM-15.
Property Size2,269 SF
Lot Size0.15 Acres
Price / SF$352.58
Days on Market116
Property Features for 1506 Northeast 5th Avenue
General Information
- Standard status
- Active
- Size
- 2,269 SF
- Lot size
- 0.15 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1968
Listing agency
Native Realty
(954) 595-2999
Listed by
Jaime Sturgis · License #3246270
Source
Commercialcafe
Added: Mar 30 Updated: Jul 22 at 6:57AM Checked: Jul 22 at 6:57AM
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 Native Realty
Investment Insights
Based on property information with market context.
Native Realty is pleased to present a 4-unit multifamily investment opportunity in Fort Lauderdale. The property includes approximately 2,269 square feet of improvements on a 6,507 square foot lot, with a well-configured layout designed to support small-format rental demand. The offering provides stable in-place income, with an opportunity to increase rents through interior upgrades and improved management.
The property is positioned near Wilton Drive and the Galleria at Fort Lauderdale, with the Hugh Taylor Birch State Park and Fort Lauderdale Beach also nearby. It benefits from access to major transit routes and proximity to downtown Fort Lauderdale, Flagler Village, and Wilton Manors.
Zoned RM-15, the property permits multifamily residential use. Its manageable scale makes it suitable as an entry-level investment or as an addition to an existing portfolio, with potential for future redevelopment or density optimization.
The property is positioned near Wilton Drive and the Galleria at Fort Lauderdale, with the Hugh Taylor Birch State Park and Fort Lauderdale Beach also nearby. It benefits from access to major transit routes and proximity to downtown Fort Lauderdale, Flagler Village, and Wilton Manors.
Zoned RM-15, the property permits multifamily residential use. Its manageable scale makes it suitable as an entry-level investment or as an addition to an existing portfolio, with potential for future redevelopment or density optimization.
Key Highlights
- 4‑unit multifamily building with approximately 2,269 SF of improvements
- Situated on a 6,507 SF lot in Fort Lauderdale
- Zoned RM‑15 for multifamily residential use
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 | $57.2k | $25.20 |
| − Vacancy | −$3.1k | −$1.39 |
| EGI | $54.0k | $23.81 |
| − OpEx | −$16.2k | −$7.14 |
| NOI | $37.8k | $16.67 |
2,269 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$540.3K
$472.8K – $630.4K
NOI $37,824 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$486.7K
$425.9K – $567.9K
NOI $34,072 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,734 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit multifamily building with approximately 2,269 sf of improvements on a 6,507 sf lot, zoned RM-15.
Where is this quadplex located?
The property is located at 1506 Northeast 5th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 4‑unit multifamily building with approximately 2,269 SF of improvements; Situated on a 6,507 SF lot in Fort Lauderdale; Zoned RM‑15 for multifamily residential use
