Six-Unit Apartment
For Sale
$1,325,000
1820 NE 56th St, Fort Lauderdale, FL 33334
Corner-lot property with central air, on-site parking, and a coin-operated laundry room.
Property Size4,588 SF
Price / SF$288.80
Days on Market48
Property Features for 1820 NE 56th St
General Information
Standard status
Active
Size
4,588 SF
Total Parking Spaces
13
Site & Location
Neighborhood
Klrg
Units
Unit Mix
2 x 2/1, 4 x 1/1
Multifamily Units
6
Amenities
coin-operated laundry room
Building Details
Year Built
1965
Listing Agency:
Berkshire Hathaway Florida Realty
Listed By:
Ram Almog · License #3207875
(561) 208-6483
Source:
Thepennteam
Added: Sep 7
Changed: Oct 12
Last Checked: Oct 7 at 5:34PM
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 Berkshire Hathaway Florida Realty
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Investment Insights
Based on property information with market context.
This 4,588-square-foot apartment building contains six units arranged as two 2/1 residences and four 1/1 residences. The property sits on a concrete corner lot with parking for up to 13 vehicles. A coin-operated laundry room provides an additional on-site feature, while central A/C serves the units. The washer/dryer is new, and the roof was replaced in 2021. Most central A/C systems are 1-4 years new. All 40/10-year recertifications have been completed.
Located at 1820 NE 56th St in Fort Lauderdale, the property is in the Coral Ridge area. The offering includes no HOA and no rental restrictions, according to the provided property information.
Located at 1820 NE 56th St in Fort Lauderdale, the property is in the Coral Ridge area. The offering includes no HOA and no rental restrictions, according to the provided property information.
Key Highlights
- Six‑unit configuration: two 2/1 units and four 1/1 units
- 4,588 SF apartment building on a concrete corner lot
- Parking for up to 13 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,895
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,900
$1.4M
Cap Rate 7%
$984,214
$984.2K
Cap Rate 9%
$765,500
$765.5K
Market Conditions
NOI Build-Up for 4,588 SF
Gross rent
$132.1K $28.80/SF
− Vacancy
−$6.9K −$1.50/SF
EGI
$125.3K $27.30/SF
− OpEx
−$56.4K −$12.29/SF
NOI
$68.9K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,377,900
Cap Rate 7%
$984,214
Cap Rate 9%
$765,500
Alternative Uses
Best Use
Apartment 5plus
$984.2K
$861.2K – $1.15M
NOI $68,895 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,820 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,272
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?
Apartment building - Corner-lot property with central air, on-site parking, and a coin-operated laundry room.
Where is this apartment building located?
The property is located at 1820 NE 56th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Six‑unit configuration: two 2/1 units and four 1/1 units; 4,588 SF apartment building on a concrete corner lot; Parking for up to 13 vehicles
