Turnkey Fourplex With Private
For Sale
$825,000
2211 NW 64th Ave, Sunrise, FL 33313
Cash-flowing fourplex with a private backyard, separate electric meter, and newer roof and AC units.
Property Size3,416 SF
Days on Market62
Property Features for 2211 NW 64th Ave
General Information
Standard status
Active
Size
3,416 SF
Property subtype
Quadruplex
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,578
Building Details
Building Size
3,416 SF
Year Built
1968
Tenancy
Multi
Listing Agency:
The Listing Firm
Listed By:
Sasha Pena · License #3262860
(786) 277-1843
Source:
Relinkre
Added: Jul 6
Changed: Aug 25
Last Checked: Sep 5 at 7:04AM
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 offers a well-maintained, cash-flowing setup with a private backyard and separate electric meter. The property has been upgraded with a newer roof and newer AC units, supporting day-to-day reliability.
Located in Sunrise, Florida, the asset is positioned as a straightforward income property for buyers seeking a multi-unit residence with practical utility separation and recent major system improvements.
The fourplex configuration provides multiple rental units within a single ownership structure, with the noted electric metering setup and exterior upgrades already completed.
Located in Sunrise, Florida, the asset is positioned as a straightforward income property for buyers seeking a multi-unit residence with practical utility separation and recent major system improvements.
The fourplex configuration provides multiple rental units within a single ownership structure, with the noted electric metering setup and exterior upgrades already completed.
Key Highlights
- 1968‑built fourplex described as cash‑flowing
- Private backyard included
- Separate electric meter
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 - Cash-flowing fourplex with a private backyard, separate electric meter, and newer roof and AC units.
Where is this quadplex located?
The property is located at 2211 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: 1968‑built fourplex described as cash‑flowing; Private backyard included; Separate electric meter
