Two-Unit Multifamily
For Sale
Contact for pricing
1850 SW 24th Street # 2 #1-2, Fort Lauderdale, FL 33315
For sale duplex with two units and 1,912 sq ft of residential income space in Fort Lauderdale.
Property Size1,912 SF
Price / SF$417.89
Days on Market399
Property Features for 1850 SW 24th Street # 2 #1-2
General Information
Standard status
Active
Size
1,912 SF
Property subtype
Multifamily
Zoning
RML-25
Net Operating Income
$1.00
Additional Details
Multifamily Units
2
Building Details
Year Built
1971
Units
2
Listing Agency:
LoKation
(561) 860-7053
Listed By:
Yvonne Plass · License #3402236
Source:
Crexi
Added: Jul 17, 2025
Changed: Aug 14
Last Checked: Aug 18 at 11:15PM
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 LoKation
Investment Insights
Based on property information with market context.
This property is a two-unit multifamily duplex offered for sale. The configuration provides a residential setup with two separate units, supporting the needs of buyers looking for a small-scale rental asset. The total property size is listed at 1,912 sq ft.
The duplex is located at 1850 SW 24th Street # 2 #1-2 in Fort Lauderdale, Florida 33315. As a compact two-unit offering, it is positioned as a straightforward option for those evaluating residential income property within the area.
From an ownership or leasing standpoint, this two-unit layout can appeal to buyers seeking to manage a limited number of households while retaining the flexibility that typically comes with a duplex structure. The property’s clear “multifamily | 2 units” classification makes it well suited for tenants and operators who want a residential income setup rather than a larger apartment community. If you are a broker or investor reviewing small multifamily opportunities, the duplex format and total size can help you evaluate operations, budgeting, and unit-by-unit utilization without the complexity of a larger building.
The duplex is located at 1850 SW 24th Street # 2 #1-2 in Fort Lauderdale, Florida 33315. As a compact two-unit offering, it is positioned as a straightforward option for those evaluating residential income property within the area.
From an ownership or leasing standpoint, this two-unit layout can appeal to buyers seeking to manage a limited number of households while retaining the flexibility that typically comes with a duplex structure. The property’s clear “multifamily | 2 units” classification makes it well suited for tenants and operators who want a residential income setup rather than a larger apartment community. If you are a broker or investor reviewing small multifamily opportunities, the duplex format and total size can help you evaluate operations, budgeting, and unit-by-unit utilization without the complexity of a larger building.
Key Highlights
- Duplex with 2 units in Fort Lauderdale
- 1,912 sq ft of residential income space
- Built in 1971
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
$31,873
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
3.99%
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%
$637,460
$637.5K
Cap Rate 7%
$455,329
$455.3K
Cap Rate 9%
$354,144
$354.1K
Market Conditions
NOI Build-Up for 1,912 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
$48.2K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$45.5K $23.81/SF
− OpEx
−$13.7K −$7.14/SF
NOI
$31.9K $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%
$637,460
Cap Rate 7%
$455,329
Cap Rate 9%
$354,144
Alternative Uses
Best Use
Multifamily LT 5
$455.3K
$398.4K – $531.2K
NOI $31,873 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$410.2K
$358.9K – $478.5K
NOI $28,711 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,940 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
963
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 - For sale duplex with two units and 1,912 sq ft of residential income space in Fort Lauderdale.
Where is this duplex located?
The property is located at 1850 SW 24th Street # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Duplex with 2 units in Fort Lauderdale; 1,912 sq ft of residential income space; Built in 1971
