Two-Unit Duplex Income
For Sale
Contact for pricing
1990 SW 9th Street # 2 #1-2, Fort Lauderdale, FL 33312
Duplex with two two-bedroom, two-bath units, including in-unit washers and dryers, with one unit updated and ready for showings.
Property Size1,750 SF
Price / SF$385.71
Days on Market61
Property Features for 1990 SW 9th Street # 2 #1-2
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Multifamily
Zoning
RD-15
Net Operating Income
$25,155
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1987
Units
4
Tenancy
Multi
Listing Agency:
LoKation
(954) 873-0803
Listed By:
Anika Bembanaste · License #3594711
Source:
Crexi
Added: Jun 15
Changed: Aug 14
Last Checked: Aug 13 at 4:42PM
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 two-unit duplex offers two spacious 2-bedroom, 2-bath layouts. Each unit includes in-unit washers and dryers for added day-to-day convenience. One unit has been updated with new flooring, vanities, kitchen countertops, a sink, mirrors, and lighting, creating a move-in-ready feel. Additional property improvements include a newer AC system in one unit and a roof replacement completed in 2019. The duplex sits on a fully fenced lot for added privacy.
The property is located in the Riverside Park neighborhood of Fort Lauderdale and is described as being just minutes from Downtown Fort Lauderdale, Fort Lauderdale International Airport, beaches, shopping, and dining. Access is via the provided address at 1990 SW 9th Street # 2 #1-2.
For investors or buyers seeking flexible occupancy, the current setup provides one leased unit and one vacant unit available for showings. That makes it straightforward to either continue the existing rental arrangement or secure a new tenant for the second unit, while also supporting an owner-occupant plan that allows living in one unit and renting the other.
The property is located in the Riverside Park neighborhood of Fort Lauderdale and is described as being just minutes from Downtown Fort Lauderdale, Fort Lauderdale International Airport, beaches, shopping, and dining. Access is via the provided address at 1990 SW 9th Street # 2 #1-2.
For investors or buyers seeking flexible occupancy, the current setup provides one leased unit and one vacant unit available for showings. That makes it straightforward to either continue the existing rental arrangement or secure a new tenant for the second unit, while also supporting an owner-occupant plan that allows living in one unit and renting the other.
Key Highlights
- Duplex built in 1987 with two 2‑bedroom, 2‑bath units on a fully fenced lot
- One unit updated with new flooring, vanities, kitchen countertops, sink, mirrors, and lighting
- Both units include in‑unit washer and dryer
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
$29,172
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
4.32%
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%
$583,440
$583.4K
Cap Rate 7%
$416,743
$416.7K
Cap Rate 9%
$324,133
$324.1K
Market Conditions
NOI Build-Up for 1,750 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
$44.1K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.7K $23.81/SF
− OpEx
−$12.5K −$7.14/SF
NOI
$29.2K $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%
$583,440
Cap Rate 7%
$416,743
Cap Rate 9%
$324,133
Alternative Uses
Best Use
Multifamily LT 5
$416.7K
$364.7K – $486.2K
NOI $29,172 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$375.4K
$328.5K – $438.0K
NOI $26,279 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,320 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 - Duplex with two two-bedroom, two-bath units, including in-unit washers and dryers, with one unit updated and ready for showings.
Where is this duplex located?
The property is located at 1990 SW 9th Street # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Duplex built in 1987 with two 2‑bedroom, 2‑bath units on a fully fenced lot; One unit updated with new flooring, vanities, kitchen countertops, sink, mirrors, and lighting; Both units include in‑unit washer and dryer
