Updated 3-Unit
219 NW 40th Court #1-3, Oakland Park, FL 33309
For Sale
$699,900
Each residence has central air conditioning, in-unit laundry, and a separately metered electric service.
Property Size2,097 SF
Price / SF$333.76
Days on Market16
Property Features for 219 NW 40th Court #1-3
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Tenant in Place
Amenities
Individual electrical meters
Impact windows
Central A/C
Washer and dryer in units
Granite kitchen
Building Details
Year Built
Tenancy
Listing Agency:
Bank On It Realty
(954) 515-0030
Listed By:
Eugene J Schroeder · License #687483
(954) 816-4363
Source:
Lehmannflorida
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 6 at 3:18PM
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 Bank On It Realty
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Investment Insights
Based on property information with market context.
Built in 1959, this 2,097-square-foot triplex in Oakland Park contains three rented apartments: one with two bedrooms and one bathroom, plus two with one bedroom and one bathroom each. The interiors have been updated, with granite kitchen counters, central air conditioning, and a washer and dryer in every unit. Impact windows and individual electric meters serve the property.
The property is located at 219 NW 40th Court in Oakland Park. All three apartments are currently rented.
The property is located at 219 NW 40th Court in Oakland Park. All three apartments are currently rented.
Key Highlights
- 2,097‑square‑foot triplex with all 3 apartments rented
- Unit mix: one 2‑bedroom/1‑bath apartment and two 1‑bedroom/1‑bath apartments
- Individual electric meters and impact windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,957
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,140
$699.1K
Cap Rate 7%
$499,386
$499.4K
Cap Rate 9%
$388,411
$388.4K
Market Conditions
NOI Build-Up for 2,097 SF
Gross rent
$52.8K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.9K $23.81/SF
− OpEx
−$15.0K −$7.14/SF
NOI
$35.0K $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 Rate 5%
$699,140
Cap Rate 7%
$499,386
Cap Rate 9%
$388,411
Alternative Uses
Best Use
Multifamily LT 5
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$460.7K
$403.1K – $537.5K
NOI $32,250 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.06M
$930.9K – $1.24M
NOI $74,473 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
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Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Broward County, FL
Properties on Market for Triplexes in Broward County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has central air conditioning, in-unit laundry, and a separately metered electric service.
Where is this triplex located?
The property is located at 219 NW 40th Court #1-3 Oakland Park, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,097‑square‑foot triplex with all 3 apartments rented; Unit mix: one 2‑bedroom/1‑bath apartment and two 1‑bedroom/1‑bath apartments; Individual electric meters and impact windows
