Renovated Fourplex with Income
For Sale
$780,000
Pending
1539 NW 8th Ave, Fort Lauderdale, FL 33311
Recently renovated fourplex with remodeled units and income potential.
Property Size2,504 SF
Days on Market329
Property Features for 1539 NW 8th Ave
General Information
Standard status
Pending
Size
2,504 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,969
Building Details
Building Size
2,504 SF
Year Built
1975
Stories
1
Listed By:
Alexander Novo · License #3370351
(786) 862-0692
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 18
Last Checked: Oct 20 at 8:13PM
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 Alexander Novo
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Investment Insights
Based on property information with market context.
This recently renovated fourplex presents potential for homeowners and investors. Each of the four units features 2 bedrooms and 1 bathroom, with remodeled kitchens, totaling 8 bedrooms and 4 bathrooms across the property. Impact windows have been installed. Currently, two front units are rented for $2,000 each per month. The two back units are vacant and have a potential rental income of $1,800 to $2,000 each. There are 5 parking spaces available, allowing one space per unit, with the possibility of renting out the extra spaces for additional income. Coin laundry could also be added for additional income.
Key Highlights
- Recently renovated fourplex with remodeled kitchens
- Impact windows for security and tranquility
- Potential gross monthly income of $7,600-$8,000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,741
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,820
$834.8K
Cap Rate 7%
$596,300
$596.3K
Cap Rate 9%
$463,789
$463.8K
Market Conditions
NOI Build-Up for 2,504 SF
Gross rent
$63.1K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$59.6K $23.81/SF
− OpEx
−$17.9K −$7.14/SF
NOI
$41.7K $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 Rate 5%
$834,820
Cap Rate 7%
$596,300
Cap Rate 9%
$463,789
Alternative Uses
Best Use
Multifamily LT 5
$596.3K
$521.8K – $695.7K
NOI $41,741 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$537.2K
$470.0K – $626.7K
NOI $37,601 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,788 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Recently renovated fourplex with remodeled units and income potential.
Where is this quadplex located?
The property is located at 1539 NW 8th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Recently renovated fourplex with remodeled kitchens; Impact windows for security and tranquility; Potential gross monthly income of $7,600-$8,000
