Well-Maintained Triplex with
For Sale
$1,029,000
1681 NE 56th Street, Fort Lauderdale, FL 33334
MULTI_FAMILY - Fort Lauderdale, FL
Property Size2,681 SF
Lot Size0.17 Acres
Price / SF$383.81
Days on Market94
Property Features for 1681 NE 56th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RMM-25
Bedrooms
6
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 5, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 1
Pool private
1
Fencing
Fenced
Subdivision
CORAL RIDGE ISLES
Elementary school
Floranada
Middle school
James S. Rickards
High school
Northeast
Standard status
Active
APN
494211063420
Size
2,681 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL RIDGE ISLES 45-47 B LOT 24 BLK 17
Tax Annual Amount
15520
Legal Description
CORAL RIDGE ISLES 45-47 B LOT 24 BLK 17
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
3
Flooring type
Tile, Terrazzo
Building materials
CBS
Roof type
Tile, Flat
Additional Structures
Outbuilding
Listing Agency:
Mari Juliette Real Estate
(954) 326-4476
Listed By:
Marissa J Albertine · License #3394122
(954) 326-4476
Added: May 6
Changed: Jul 24
Last Checked: Aug 7 at 12:06PM
MLS# B26025052
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained triplex includes three residential units, each in month-to-month tenancy. The property is described as maintained to support consistent occupancy and features a resort-style pool area.
The asset is located in Fort Lauderdale, Florida, at 1681 NE 56th Street (33334). It is positioned for convenient access to local amenities, with beaches and dining described as being minutes away.
As presented, the layout and current configuration support flexible ownership options given the month-to-month terms across all three units, along with the inclusion of the pool amenity.
The asset is located in Fort Lauderdale, Florida, at 1681 NE 56th Street (33334). It is positioned for convenient access to local amenities, with beaches and dining described as being minutes away.
As presented, the layout and current configuration support flexible ownership options given the month-to-month terms across all three units, along with the inclusion of the pool amenity.
Key Highlights
- Well‑maintained triplex with 3 units currently on month‑to‑month tenant arrangements
- Private pool (PoolPrivateYN: true) with fenced grounds (Fencing: fenced)
- Concrete block (CBS) construction with terrazzo and tile flooring
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
$44,692
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
4.34%
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%
$893,840
$893.8K
Cap Rate 7%
$638,457
$638.5K
Cap Rate 9%
$496,578
$496.6K
Market Conditions
NOI Build-Up for 2,681 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
$67.6K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.8K $23.81/SF
− OpEx
−$19.2K −$7.14/SF
NOI
$44.7K $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 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%
$893,840
Cap Rate 7%
$638,457
Cap Rate 9%
$496,578
Alternative Uses
Best Use
Multifamily LT 5
$638.5K
$558.7K – $744.9K
NOI $44,692 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$575.1K
$503.2K – $671.0K
NOI $40,259 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,114 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,828
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex with three units and a resort-style pool area, offering month-to-month tenancy in all units.
Where is this triplex located?
The property is located at 1681 NE 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,029,000.
What are key features of this property?
This property features: Well‑maintained triplex with 3 units currently on month‑to‑month tenant arrangements; Private pool (PoolPrivateYN: true) with fenced grounds (Fencing: fenced); Concrete block (CBS) construction with terrazzo and tile flooring
