Turnkey Fourplex with Private
For Sale
$850,000
2151 NW 64th Avenue, Sunrise, FL 33313
Well-maintained fourplex offers private backyards and separate electric meters, with a newer roof and AC systems in place.
Property Size3,416 SF
Price / SF$248.83
Days on Market47
Property Features for 2151 NW 64th Avenue
General Information
Standard status
Active
Size
3,416 SF
Property subtype
Residential Income
Zoning
RS-5
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,577
Amenities
private backyards
Building Details
Building Size
3,416 SF
Year Built
1967
Stories
2
Tenancy
Multi
Listing Agency:
The Listing Firm
(786) 277-1843
Listed By:
Sasha Z Pena · License #3262860
(786) 277-1843
Source:
Laerrealty
Added: Jul 9
Changed: Aug 23
Last Checked: Aug 24 at 3:17AM
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 The Listing Firm
Investment Insights
Based on property information with market context.
This turnkey fourplex is well-maintained and designed to support efficient day-to-day operations. Each unit benefits from private backyards, and the property includes separate electric meters for the units. Capital improvements include a newer roof and newer A/C systems.
The property is located at 2151 NW 64th Ave in Sunrise, Florida. Walk, bike, and transit scores are provided as 52 (Somewhat Walkable), 36 (Somewhat Bikeable), and 34 (Some Transit), respectively.
As a multifamily income property, it is positioned to deliver ongoing rental performance with a focus on low maintenance needs tied to the included exterior and mechanical upgrades.
The property is located at 2151 NW 64th Ave in Sunrise, Florida. Walk, bike, and transit scores are provided as 52 (Somewhat Walkable), 36 (Somewhat Bikeable), and 34 (Some Transit), respectively.
As a multifamily income property, it is positioned to deliver ongoing rental performance with a focus on low maintenance needs tied to the included exterior and mechanical upgrades.
Key Highlights
- Well‑maintained fourplex built in 1967
- Private backyards and separate electric meters
- Newer roof and A/C systems
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
$56,944
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
6.70%
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%
$1,138,880
$1.1M
Cap Rate 7%
$813,486
$813.5K
Cap Rate 9%
$632,711
$632.7K
Market Conditions
NOI Build-Up for 3,416 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
$86.1K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$81.3K $23.81/SF
− OpEx
−$24.4K −$7.14/SF
NOI
$56.9K $16.67/SF
Area
Broward County, 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%
$1,138,880
Cap Rate 7%
$813,486
Cap Rate 9%
$632,711
Alternative Uses
Best Use
Multifamily LT 5
$813.5K
$711.8K – $949.1K
NOI $56,944 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$750.5K
$656.7K – $875.6K
NOI $52,536 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,316 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 33313, FL
63,284
Population
25,312
Households
2.5
Avg Household Size
36
Median Age
15%
College-Educated
85%
High-School Grad
6.3 sq mi
ZIP Area
10,045
Density / Sq Mi
$45,408
Median Household Income
$30,872
Median Earnings
$1,608
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex offers private backyards and separate electric meters, with a newer roof and AC systems in place.
Where is this quadplex located?
The property is located at 2151 NW 64th Avenue Sunrise, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Well‑maintained fourplex built in 1967; Private backyards and separate electric meters; Newer roof and A/C systems
