Updated Two-Unit
For Sale
$995,000
1524 N Victoria Park Rd, Fort Lauderdale, FL 33304
Two residential units offer separate meters, private outdoor areas, and flexible furnished-use potential.
Property Size2,392 SF
Price / SF$415.97
Days on Market124
Property Features for 1524 N Victoria Park Rd
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,177
Amenities
private backyards
outdoor screened workout space
jacuzzi
Building Details
Buildings
1
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jamie Besson · License #3456495
(754) 704-0676
Source:
Exprealty
Added: May 3
Changed: Sep 2
Last Checked: Aug 31 at 7:52PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This updated duplex contains two 3BR/2BA residences within 2,392 square feet. The front unit has been operated as a short-term rental, while the rear unit includes a dedicated private office. A 2022 roof, separate utility meters, and the option to convey the property fully furnished add practical value for ownership and operations.
Each residence has its own backyard, with artificial turf installed in the rear outdoor area. Additional improvements include a screened exercise space and a six-person jacuzzi. The property is positioned near Trader Joe’s, Publix, US-1 dining, Las Olas, and the beach, providing access to established retail, restaurant, entertainment, and coastal destinations.
Each residence has its own backyard, with artificial turf installed in the rear outdoor area. Additional improvements include a screened exercise space and a six-person jacuzzi. The property is positioned near Trader Joe’s, Publix, US-1 dining, Las Olas, and the beach, providing access to established retail, restaurant, entertainment, and coastal destinations.
Key Highlights
- Two 3BR/2BA residential units in a duplex configuration
- 2,392 square feet of property size
- New roof installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,874
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,480
$797.5K
Cap Rate 7%
$569,629
$569.6K
Cap Rate 9%
$443,044
$443.0K
Market Conditions
NOI Build-Up for 2,392 SF
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.
Gross rent
$60.3K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.0K $23.81/SF
− OpEx
−$17.1K −$7.14/SF
NOI
$39.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,480
Cap Rate 7%
$569,629
Cap Rate 9%
$443,044
Alternative Uses
Best Use
Multifamily LT 5
$569.6K
$498.4K – $664.6K
NOI $39,874 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$513.1K
$449.0K – $598.7K
NOI $35,919 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,520 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Duplex - Two residential units offer separate meters, private outdoor areas, and flexible furnished-use potential.
Where is this duplex located?
The property is located at 1524 N Victoria Park Rd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two 3BR/2BA residential units in a duplex configuration; 2,392 square feet of property size; New roof installed in 2022
