Triplex with Private
1615 NE 9th Street, Fort Lauderdale, FL 33304
For Sale
$1,075,000
All three residences are leased and include updated kitchens, baths, and individual assigned parking.
Property Size2,295 SF
Price / SF$468.41
Days on Market194
Property Features for 1615 NE 9th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Multifamily Units
Parking per Unit
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Bridgestone Realty LLC
Listed By:
Herson M Richiez · License #3322581
(954) 829-6073
Source:
Redpinrealty
Added: Apr 28
Changed: Nov 7
Last Checked: Nov 7 at 1:29PM
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 Bridgestone Realty LLC
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Investment Insights
Based on property information with market context.
This 2,295-square-foot triplex contains three leased residences. Each unit has LVP flooring, a modernized kitchen and bathroom, a wall-mounted A/C unit, updated lighting, and blinds. Private outdoor space is provided by a patio or porch for each unit, with assigned parking. The property also has impact windows, upgraded plumbing and electrical systems, and a roof installed in 2016. Exterior work includes new paint, pavers, and landscaping.
Situated on a corner lot in Victoria Park, the property is a short drive from Galleria Mall, Fort Lauderdale Beach, dining, and nightlife. The stated zoning allows for development of three townhomes or condominiums.
Situated on a corner lot in Victoria Park, the property is a short drive from Galleria Mall, Fort Lauderdale Beach, dining, and nightlife. The stated zoning allows for development of three townhomes or condominiums.
Key Highlights
- Three leased units in a 2,295‑square‑foot triplex
- Each residence has a private patio or porch and assigned parking
- Impact windows; plumbing and electrical systems upgraded
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,257
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$765,140
$765.1K
Cap Rate 7%
$546,529
$546.5K
Cap Rate 9%
$425,078
$425.1K
Market Conditions
NOI Build-Up for 2,295 SF
Gross rent
$57.8K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$54.7K $23.81/SF
− OpEx
−$16.4K −$7.14/SF
NOI
$38.3K $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%
$765,140
Cap Rate 7%
$546,529
Cap Rate 9%
$425,078
Alternative Uses
Best Use
Multifamily LT 5
$546.5K
$478.2K – $637.6K
NOI $38,257 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$492.3K
$430.8K – $574.4K
NOI $34,462 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,957 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,309
Businesses Nearby
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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
$556,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Fort Lauderdale, FL
Properties on Market for Triplexes in Fort Lauderdale
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences are leased and include updated kitchens, baths, and individual assigned parking.
Where is this triplex located?
The property is located at 1615 NE 9th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Three leased units in a 2,295‑square‑foot triplex; Each residence has a private patio or porch and assigned parking; Impact windows; plumbing and electrical systems upgraded
