Renovated 3-Unit
For Sale
$1,200,000
1600 NE 56th Street, Fort Lauderdale, FL 33334
All residences are occupied and feature refreshed interiors, impact windows, and generous living areas.
Property Size2,899 SF
Price / SF$413.94
Days on Market58
Property Features for 1600 NE 56th Street
General Information
Standard status
Active
Size
2,899 SF
Property subtype
Triplex
Site & Location
Neighborhood
Cria
Taxes and HOA fees
Annual Taxes
$16,176
Building Details
Building Size
2,899 SF
Year Built
1962
Listing Agency:
Grant and Associates Real Estate INC
Listed By:
Kenneth E Grant · License #3379095
(786) 489-6069
Source:
Pamandtoni
Added: Sep 1
Changed: Oct 26
Last Checked: Oct 28 at 2:03PM
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 Grant and Associates Real Estate INC
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Investment Insights
Based on property information with market context.
This Fort Lauderdale triplex contains three residences with a 3-bedroom/2-bath unit, a 2-bedroom/1-bath unit, and a 1-bedroom/1-bath unit. The property includes updated interior finishes, impact windows, and spacious living areas throughout. Built in 1962, the building offers a clearly defined three-unit configuration for multifamily ownership.
All three residences are currently occupied. The property is located at 1600 NE 56th Street in Fort Lauderdale, Florida, with the address identified as 33334. Tenant access is subject to scheduled showings by appointment.
All three residences are currently occupied. The property is located at 1600 NE 56th Street in Fort Lauderdale, Florida, with the address identified as 33334. Tenant access is subject to scheduled showings by appointment.
Key Highlights
- Three‑unit configuration with 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath residences
- All three units are currently occupied
- Impact windows across the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,326
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,520
$966.5K
Cap Rate 7%
$690,371
$690.4K
Cap Rate 9%
$536,956
$537.0K
Market Conditions
NOI Build-Up for 2,899 SF
Gross rent
$73.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$69.0K $23.81/SF
− OpEx
−$20.7K −$7.14/SF
NOI
$48.3K $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%
$966,520
Cap Rate 7%
$690,371
Cap Rate 9%
$536,956
Alternative Uses
Best Use
Multifamily LT 5
$690.4K
$604.1K – $805.4K
NOI $48,326 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$621.9K
$544.2K – $725.5K
NOI $43,532 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,369 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
2,016
Businesses Nearby
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Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All residences are occupied and feature refreshed interiors, impact windows, and generous living areas.
Where is this triplex located?
The property is located at 1600 NE 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three‑unit configuration with 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath residences; All three units are currently occupied; Impact windows across the property
