Two-Unit Duplex with Private Outdoor
For Sale
$1,200,000
2318 N Ocean Boulevard, Fort Lauderdale, FL 33305
MULTI_FAMILY - Fort Lauderdale, FL
Property Size2,423 SF
Lot Size0.15 Acres
Price / SF$495.25
Days on Market63
Property Features for 2318 N Ocean Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-8
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 4
Pets allowed
Yes, No
Exterior features
Garden, Outdoor Shower, Storage
Fencing
Fenced
Subdivision
LAUDERDALE BEACH
Elementary school
Bayview
Middle school
Sunrise
High school
Fort Lauderdale
Standard status
Active
APN
494330011110
Size
2,423 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAUDERDALE BEACH 4-2 B LOT 5 LESS WLY 20 FOR RD BLK 3
Tax Annual Amount
4039
Legal Description
LAUDERDALE BEACH 4-2 B LOT 5 LESS WLY 20 FOR RD BLK 3
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
private backyard
covered patio
patio area
Building Details
Year built
1952
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Tile
Building materials
CBS, Stucco
Roof type
Mixed
Additional Structures
Outbuilding, Storage
Listing Agency:
Balistreri Real Estate Inc
(954) 489-3100
Listed By:
Diana L Fairbanks · License #3165158
(954) 600-4003
Added: Jun 11
Changed: Aug 5
Last Checked: Aug 12 at 5:06PM
MLS# B26041062
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two spacious, self-contained residences. The first unit is a 3-bedroom, 2-bath home with a private backyard and a covered patio. The second unit features 2 bedrooms, 2 baths, its own patio area, and an additional kitchenette.
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. The property is zoned RS-8 and sits on a 0.15-acre lot.
Whether you’re evaluating it as an income-producing duplex or considering redevelopment options, the layout provides two distinct living spaces with dedicated outdoor areas.
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. The property is zoned RS-8 and sits on a 0.15-acre lot.
Whether you’re evaluating it as an income-producing duplex or considering redevelopment options, the layout provides two distinct living spaces with dedicated outdoor areas.
Key Highlights
- 1952 CBS/stucco duplex with mixed roof, tile flooring, and central heating
- Two spacious units: one 3‑bedroom, 2‑bath unit with private backyard and covered patio
- Second unit is 2‑bedroom, 2‑bath with its own patio and an additional kitchenette
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
$40,391
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
3.37%
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%
$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
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
$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 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%
$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 3.37%
Second Best
Apartment 5plus
$519.8K
$454.8K – $606.4K
NOI $36,385 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,978 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring two separate units, including a covered patio and a second unit with an additional kitchenette.
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 $1,200,000.
What are key features of this property?
This property features: 1952 CBS/stucco duplex with mixed roof, tile flooring, and central heating; Two spacious units: one 3‑bedroom, 2‑bath unit with private backyard and covered patio; Second unit is 2‑bedroom, 2‑bath with its own patio and an additional kitchenette
