Duplex with Covered
For Sale
$1,175,000
2318 N Ocean Boulevard, Fort Lauderdale, FL 33305
Two-unit duplex near the ocean and Intracoastal Waterway, with outdoor patios for flexible tenant use.
Property Size2,655 SF
Price / SF$484.94
Days on Market135
Property Features for 2318 N Ocean Boulevard
General Information
Standard status
Active
Size
2,655 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RS-8
Site & Location
Neighborhood
Ldbh
Taxes and HOA fees
Annual Taxes
$4,039
Building Details
Building Size
2,655 SF
Year Built
1952
Stories
1
Tenancy
Multi
Listing Agency:
Balistreri Real Estate Inc
Listed By:
Diana L Fairbanks · License #3165158
(954) 600-4003
Source:
Laerrealty
Added: Jun 16
Changed: Oct 26
Last Checked: Oct 28 at 5:08AM
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 Balistreri Real Estate Inc
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Investment Insights
Based on property information with market context.
This duplex includes two spacious residential units, providing a straightforward setup for owner-occupancy or rental use. The first unit is a 3-bedroom, 2-bath residence with a private backyard and a covered patio, designed for everyday indoor-outdoor living. The second unit offers 2 bedrooms and 2 baths, along with its own patio area and an additional kitchenette, which can support tenant flexibility or accommodate multi-generational arrangements.
Located at 2318 N Ocean Boulevard in Fort Lauderdale, the property is described as being just two blocks from both the ocean and the Intracoastal Waterway. That proximity supports a coastal lifestyle, while the duplex configuration gives owners options if they want to hold and lease the property as residential income.
For tenants, the unit layouts offer separate outdoor spaces and, in the second unit, an added kitchenette that may be useful for different household needs. For buyers, the building presents a manageable duplex structure with two distinct living configurations, whether the goal is to maintain the property as a residential income-producing duplex or consider redevelopment planning, subject to applicable requirements.
Located at 2318 N Ocean Boulevard in Fort Lauderdale, the property is described as being just two blocks from both the ocean and the Intracoastal Waterway. That proximity supports a coastal lifestyle, while the duplex configuration gives owners options if they want to hold and lease the property as residential income.
For tenants, the unit layouts offer separate outdoor spaces and, in the second unit, an added kitchenette that may be useful for different household needs. For buyers, the building presents a manageable duplex structure with two distinct living configurations, whether the goal is to maintain the property as a residential income-producing duplex or consider redevelopment planning, subject to applicable requirements.
Key Highlights
- Two‑unit duplex built in 1952, offered as a duplex or for redevelopment possibilities
- Unit 1: 3 bed, 2 bath with a private backyard and covered patio
- Unit 2: 2 bed, 2 bath with its own patio area and an additional kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,391
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,820
$807.8K
Cap Rate 7%
$577,014
$577.0K
Cap Rate 9%
$448,789
$448.8K
Market Conditions
NOI Build-Up for 2,423 SF
Gross rent
$61.1K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$57.7K $23.81/SF
− OpEx
−$17.3K −$7.14/SF
NOI
$40.4K $16.67/SF
Area
Fort Lauderdale, 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%
$807,820
Cap Rate 7%
$577,014
Cap Rate 9%
$448,789
Alternative Uses
Best Use
Multifamily LT 5
$577.0K
$504.9K – $673.2K
NOI $40,391 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$519.8K
$454.8K – $606.4K
NOI $36,385 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,978 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
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Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex near the ocean and Intracoastal Waterway, with outdoor patios for flexible tenant use.
Where is this duplex located?
The property is located at 2318 N Ocean Boulevard Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1952, offered as a duplex or for redevelopment possibilities; Unit 1: 3 bed, 2 bath with a private backyard and covered patio; Unit 2: 2 bed, 2 bath with its own patio area and an additional kitchenette
