Upgraded
For Sale
$1,189,000
Pending
1896 SW 41st Ave, Fort Lauderdale, FL 33317
Four residential units include private laundry, updated interiors, and on-site parking in Fort Lauderdale.
Property Size3,561 SF
Days on Market96
Property Features for 1896 SW 41st Ave
General Information
Standard status
Pending
Size
3,561 SF
Total Parking Spaces
11
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$20,410
Amenities
in-unit washer and dryer
Building Details
Building Size
3,561 SF
Year Built
1974
Stories
2
Units
4
Listed By:
ERIEL PEREZ
(786) 483-9254
Source:
Elliman
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 4 at 1:03PM
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 ERIEL PEREZ
Investment Insights
Based on property information with market context.
This 3,561-square-foot quadplex, built in 1974, contains four 2-bedroom, 1-bath residences. Each unit has its own washer and dryer, while renovated kitchens and bathrooms, tile flooring, and maintained exterior presentation support the property’s updated condition. The site provides 11 parking spaces and is zoned RM-10.
The current occupancy mix includes one month-to-month lease, one vacant unit, and two furnished Airbnb units. The property has passed its 40-year inspection. Its Fort Lauderdale address places the asset near major highways, shopping, dining, beaches, and Fort Lauderdale-Hollywood International Airport.
The current occupancy mix includes one month-to-month lease, one vacant unit, and two furnished Airbnb units. The property has passed its 40-year inspection. Its Fort Lauderdale address places the asset near major highways, shopping, dining, beaches, and Fort Lauderdale-Hollywood International Airport.
Key Highlights
- Four 2‑bedroom, 1‑bath units in a quadplex configuration
- 3,561 SF multifamily property built in 1974
- 11 parking spaces for tenants and guests
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
$59,361
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
4.99%
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%
$1,187,220
$1.2M
Cap Rate 7%
$848,014
$848.0K
Cap Rate 9%
$659,567
$659.6K
Market Conditions
NOI Build-Up for 3,561 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
$89.7K $25.20/SF
− Vacancy
−$4.9K −$1.39/SF
EGI
$84.8K $23.81/SF
− OpEx
−$25.4K −$7.14/SF
NOI
$59.4K $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%
$1,187,220
Cap Rate 7%
$848,014
Cap Rate 9%
$659,567
Alternative Uses
Best Use
Multifamily LT 5
$848.0K
$742.0K – $989.4K
NOI $59,361 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$763.9K
$668.4K – $891.2K
NOI $53,473 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,509 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 33317, FL
37,590
Population
13,625
Households
2.8
Avg Household Size
41
Median Age
36%
College-Educated
90%
High-School Grad
9.6 sq mi
ZIP Area
3,916
Density / Sq Mi
$84,239
Median Household Income
$43,317
Median Earnings
$1,986
Median Rent
$449,900
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 - Four residential units include private laundry, updated interiors, and on-site parking in Fort Lauderdale.
Where is this quadplex located?
The property is located at 1896 SW 41st Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units in a quadplex configuration; 3,561 SF multifamily property built in 1974; 11 parking spaces for tenants and guests
