Renovated Duplex with Separate
For Sale
$699,000
1827 Southwest 21st Street, Fort Lauderdale, FL 33315
Two-unit property with one vacant residence and an active short-term rental license through December 2026.
Property Size1,570 SF
Price / SF$445.22
Days on Market100
Property Features for 1827 Southwest 21st Street
General Information
Standard status
Active
Size
1,570 SF
Property subtype
Residential Income / Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,228
Amenities
Central Air, Electric, Yes
Central, Electric, Yes
1
Laminate Floors, Tile Floors
Metal, Single Hung, Storm Windows
Composition, Shingle
Fenced
No
Duplex
Fence, Fruit Trees, Patio
Covered, Patio
Building Details
Year Built
1959
Year Renovated
2025
Construction
C.B. Stucco
Listing Agency:
Caba Real Estate
Listed By:
Antulio Montiel · License #3241567
(786) 255-5673
Source:
Compass
Added: May 27
Changed: Sep 2
Last Checked: Sep 1 at 11:27PM
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 Caba Real Estate
Investment Insights
Based on property information with market context.
This 1,570-square-foot duplex contains two residences, each configured with two bedrooms and one bathroom. A comprehensive 2024–2025 renovation replaced the kitchens, bathrooms, plumbing, electrical systems, impact windows and doors, and roof. Original terrazzo flooring remains, complemented by C.B. Stucco construction. The property was built in 1959 and is zoned RD-15.
One unit is vacant and ready for occupancy, while the second is leased through September 2026. Separate electric and water meters serve each residence, and tenants pay their own utilities. An active short-term rental license extends through December 2026.
The property is in Fort Lauderdale’s River Oaks neighborhood, one block from Safe Harbour Lauderdale Marina, five blocks from I-95, 10 minutes from FLL Airport, and 15 minutes from the beach.
One unit is vacant and ready for occupancy, while the second is leased through September 2026. Separate electric and water meters serve each residence, and tenants pay their own utilities. An active short-term rental license extends through December 2026.
The property is in Fort Lauderdale’s River Oaks neighborhood, one block from Safe Harbour Lauderdale Marina, five blocks from I-95, 10 minutes from FLL Airport, and 15 minutes from the beach.
Key Highlights
- 1,570 SF duplex with two 2‑bedroom, 1‑bath units
- Comprehensive renovation completed during 2024–2025
- Separate electric and water meters for each unit
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
$26,172
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
3.74%
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%
$523,440
$523.4K
Cap Rate 7%
$373,886
$373.9K
Cap Rate 9%
$290,800
$290.8K
Market Conditions
NOI Build-Up for 1,570 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
$39.6K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.4K $23.81/SF
− OpEx
−$11.2K −$7.14/SF
NOI
$26.2K $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%
$523,440
Cap Rate 7%
$373,886
Cap Rate 9%
$290,800
Alternative Uses
Best Use
Multifamily LT 5
$373.9K
$327.2K – $436.2K
NOI $26,172 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$336.8K
$294.7K – $392.9K
NOI $23,576 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.06M
$923.2K – $1.23M
NOI $73,853 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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?
Duplex - Two-unit property with one vacant residence and an active short-term rental license through December 2026.
Where is this duplex located?
The property is located at 1827 Southwest 21st Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,570 SF duplex with two 2‑bedroom, 1‑bath units; Comprehensive renovation completed during 2024–2025; Separate electric and water meters for each unit
