Tri-Plex Residential Income
1960 Northeast 56th Street Fort Lauderdale, FL 33308
1960 Northeast 56th Street, Fort Lauderdale, FL, 33308
$955,000
For Sale
$955,000
Three-unit tri-plex with two rented units and one owner-occupied residence in the Coral Ridge Isles area.
Property Size2,900 SF
Price / SF$329.31
Days on Market300
Property Features for 1960 Northeast 56th Street
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Property subtype
- Multi-Family Income / Triplex
Building Details
- Year Built
- 1964
Listing agency
Ferrarri International Realty
(305) 335-7393
Listed by
Jesus Pazmino · License #3233828
(305) 335-7393
Source
Compass
Added: Sep 27, 2025 Updated: Jul 22 at 12:23PM Checked: Jul 22 at 12:23PM
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 Ferrarri International Realty
Investment Insights
Based on property information with market context.
This tri-plex at 1960 Northeast 56th Street is configured as three separate units, with two units currently rented and one unit owner-occupied. The property is offered for sale as-is, with the current setup providing immediate rental income from the occupied units.
Located in the Coral Ridge Isles area of Fort Lauderdale, the listing is positioned as an opportunity to either pursue redevelopment or continue operating the property as a residential income asset based on the existing in-place tenancy.
Located in the Coral Ridge Isles area of Fort Lauderdale, the listing is positioned as an opportunity to either pursue redevelopment or continue operating the property as a residential income asset based on the existing in-place tenancy.
Key Highlights
- 3‑unit tri‑plex in the Coral Ridge Isles area
- Two units currently rented and one owner‑occupied residence
- Built in 1964
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.1k | $25.20 |
| − Vacancy | −$4.0k | −$1.39 |
| EGI | $69.1k | $23.81 |
| − OpEx | −$20.7k | −$7.14 |
| NOI | $48.3k | $16.67 |
2,900 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$690.6K
$604.3K – $805.7K
NOI $48,342 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$622.1K
$544.3K – $725.8K
NOI $43,547 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,416 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit tri-plex with two rented units and one owner-occupied residence in the Coral Ridge Isles area.
Where is this triplex located?
The property is located at 1960 Northeast 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $955,000.
What are key features of this property?
This property features: 3‑unit tri‑plex in the Coral Ridge Isles area; Two units currently rented and one owner‑occupied residence; Built in 1964
