Income-Producing Fourplex on Corner
2216 Northwest 15th Avenue Fort Lauderdale, FL 33311
2216 Northwest 15th Avenue, Fort Lauderdale, FL, 33311
$745,000
For Sale
$745,000
Fourplex with park views, spacious layouts, and in-unit laundry.
Property Size2,612 SF
Price / SF$285.22
Days on Market183
Property Features for 2216 Northwest 15th Avenue
General Information
- Standard status
- Active
- Size
- 2,612 SF
- Property subtype
- Residential Income / Fourplex
Building Details
- Year Built
- 1995
Listing agency
Keller Williams Eagle Realty
(305) 757-1700
Listed by
Ana Waxman · License #3165926
(305) 757-1700
Source
Compass
Added: Jan 20 Updated: Jul 10 at 12:18PM Checked: Jul 21 at 6:54AM
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 Keller Williams Eagle Realty
Investment Insights
Based on property information with market context.
This income-producing fourplex is situated on a corner lot at the end of a quiet, dead-end street, offering views of Millspond Park. Each unit features a spacious layout and an open kitchen equipped with a snack counter. For convenience, each unit also includes its own in-unit washer and dryer. Separate meters are installed for each unit. The property, with a size of 2612 square feet, presents a strong rental appeal due to its prime location, making it an excellent investment opportunity.
Key Highlights
- Income‑producing fourplex: Immediate return on investment.
- Prime location: Strong rental appeal.
- Corner lot on a quiet dead‑end street: Enhanced privacy and reduced traffic.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.8k | $25.20 |
| − Vacancy | −$3.6k | −$1.39 |
| EGI | $62.2k | $23.81 |
| − OpEx | −$18.7k | −$7.14 |
| NOI | $43.5k | $16.67 |
2,612 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$622.0K
$544.3K – $725.7K
NOI $43,542 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$560.3K
$490.3K – $653.7K
NOI $39,223 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,868 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Soccer Field C
Gym & Fitness Center
Soccer Field #3
Park
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fourplex with park views, spacious layouts, and in-unit laundry.
Where is this quadplex located?
The property is located at 2216 Northwest 15th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Income‑producing fourplex: Immediate return on investment.; Prime location: Strong rental appeal.; Corner lot on a quiet dead‑end street: Enhanced privacy and reduced traffic.
