Turnkey Fourplex with Private
For Sale
$825,000
Pending
2201 NW 64th Ave, Sunrise, FL 33313
Well-maintained fourplex with separate electric meters and private backyards, featuring a newer roof and newer A/C systems.
Property Size3,416 SF
Days on Market63
Property Features for 2201 NW 64th Ave
General Information
Standard status
Pending
Size
3,416 SF
Property subtype
Quadruplex
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$15,806
Building Details
Building Size
3,416 SF
Year Built
1967
Tenancy
Multi
Listing Agency:
The Listing Firm
Listed By:
Sasha Pena · License #3262860
(786) 277-1843
Source:
Relinkre
Added: Jul 6
Changed: Sep 5
Last Checked: Sep 5 at 8:37AM
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 presented as a low-maintenance, income-focused multifamily property. The layout includes private backyards and separate electric meters, supporting more independently metered living arrangements. Recent capital improvements include a newer roof and newer A/C systems.
The property is located at 2201 NW 64th Ave in Sunrise, Florida. The offering is described as delivering immediate cash flow and benefiting from strong rental demand in the local market.
With four residential units within a single asset, this property provides an owner the opportunity to manage a consolidated multifamily investment while relying on the identified building updates to help reduce near-term maintenance needs.
The property is located at 2201 NW 64th Ave in Sunrise, Florida. The offering is described as delivering immediate cash flow and benefiting from strong rental demand in the local market.
With four residential units within a single asset, this property provides an owner the opportunity to manage a consolidated multifamily investment while relying on the identified building updates to help reduce near-term maintenance needs.
Key Highlights
- Well‑maintained fourplex built in 1967
- Separate electric meters for individual units
- Private backyards included
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
6.90%
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 6.90%
Second Best
Apartment 5plus
$750.5K
$656.7K – $875.6K
NOI $52,536 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,316 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with separate electric meters and private backyards, featuring a newer roof and newer A/C systems.
Where is this quadplex located?
The property is located at 2201 NW 64th Ave Sunrise, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Well‑maintained fourplex built in 1967; Separate electric meters for individual units; Private backyards included
