Value-Add Fourplex With
For Sale
$1,375,000
1634 NE 4th Pl, Fort Lauderdale, FL 33301
Fourplex with updated interiors and mixed HVAC systems, sold as-is with code enforcement violations and a recorded lien.
Property Size2,779 SF
Price / SF$494.78
Days on Market53
Property Features for 1634 NE 4th Pl
General Information
Standard status
Active
Size
2,779 SF
Property subtype
Multi-Unit (2-4)
Additional Details
Multifamily Units
4
Amenities
Asphalt Roof
Sewer Type: Municipal
Total Taxes: $23,972, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Tile Floor
Has Central AC: 1, Wall/Window AC: 1
Sale, Sale Type: Foreclosure
One Story, Built in 1966, Community Laundry
Subdivision Name: Middle River Park
Above Area Square Feet: 2779
Construction Type: Masonry - Concrete Block, Patio
Building Details
Year Built
1966
Tenancy
Multi
Listing Agency:
Compass Florida, LLC
(954) 477-7332
Listed By:
Nicole Murray Chen · License #3159027
(954) 477-7332
Source:
Doyle-realty
Added: Jul 7
Changed: Aug 28
Last Checked: Aug 28 at 12:41PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This fourplex offers a value-add configuration with extensive interior upgrades, including updated kitchens, renovated bathrooms, recessed lighting, and a mix of central, mini-split, and wall air conditioning systems. The layout includes three 1-bedroom units and a spacious rear unit configuration. The property is being sold strictly AS-IS, WHERE-IS.
The sale involves open code enforcement violations in the City of Fort Lauderdale (Case No. BE25020095) related to unpermitted interior and mechanical modifications. A recorded municipal lien is also against the property. The seller has already paid $5,000 toward a contractor and expeditor to initiate architectural plans and city compliance tracking; the outstanding administrative lien balance must be paid off by the buyer at closing to clear title.
Post-closing, the buyer assumes 100% responsibility and cost for completing engineering plans, pulling after-the-fact permits, and bringing the structure into full compliance with the City of Fort Lauderdale. Cash or hard money investors only, with quick closing preferred.
The sale involves open code enforcement violations in the City of Fort Lauderdale (Case No. BE25020095) related to unpermitted interior and mechanical modifications. A recorded municipal lien is also against the property. The seller has already paid $5,000 toward a contractor and expeditor to initiate architectural plans and city compliance tracking; the outstanding administrative lien balance must be paid off by the buyer at closing to clear title.
Post-closing, the buyer assumes 100% responsibility and cost for completing engineering plans, pulling after-the-fact permits, and bringing the structure into full compliance with the City of Fort Lauderdale. Cash or hard money investors only, with quick closing preferred.
Key Highlights
- Fourplex in Fort Lauderdale built in 1966 with three 1‑bedroom units and a spacious rear unit configuration
- Updated interiors include renovated bathrooms, updated kitchens, and recessed lighting
- Mixed HVAC systems: central air, mini‑split, and wall air conditioning
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
$46,325
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
3.37%
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%
$926,500
$926.5K
Cap Rate 7%
$661,786
$661.8K
Cap Rate 9%
$514,722
$514.7K
Market Conditions
NOI Build-Up for 2,779 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
$70.0K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.2K $23.81/SF
− OpEx
−$19.9K −$7.14/SF
NOI
$46.3K $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 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%
$926,500
Cap Rate 7%
$661,786
Cap Rate 9%
$514,722
Alternative Uses
Best Use
Multifamily LT 5
$661.8K
$579.1K – $772.1K
NOI $46,325 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$596.1K
$521.6K – $695.5K
NOI $41,730 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,724 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
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?
Quadplex - Fourplex with updated interiors and mixed HVAC systems, sold as-is with code enforcement violations and a recorded lien.
Where is this quadplex located?
The property is located at 1634 NE 4th Pl Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Fourplex in Fort Lauderdale built in 1966 with three 1‑bedroom units and a spacious rear unit configuration; Updated interiors include renovated bathrooms, updated kitchens, and recessed lighting; Mixed HVAC systems: central air, mini‑split, and wall air conditioning
