Renovated 5-Unit Multifamily
For Sale
$899,999
24 SW 13th Street # 5 Unit 1-5, Dania Beach, FL 33004
Updated kitchens, bathrooms, building systems, fencing, and coin laundry support the property’s multifamily use.
Property Size2,371 SF
Days on Market106
Property Features for 24 SW 13th Street # 5 Unit 1-5
General Information
Standard status
Active
Size
2,371 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,333
Amenities
coin laundry room
Building Details
Building Size
2,371 SF
Year Built
1959
Buildings
1
Listing Agency:
A J Ryan Realty
(954) 258-5900
Listed By:
Patrick F Toma · License #3363006
Source:
Relinkre
Added: May 6
Changed: Aug 5
Last Checked: Aug 18 at 6:22AM
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 A J Ryan Realty
Investment Insights
Based on property information with market context.
This 5-unit multifamily property in Dania Beach was built in 1959 and has undergone extensive renovation. Improvements include replacement windows and doors, a new roof, updated electrical service, refreshed kitchens and bathrooms, perimeter fencing, and a coin-operated laundry room.
The property is identified as 24 SW 13th Street, Dania Beach, FL 33004, with units designated 1 through 5. The combination of multiple residential units and recently completed building improvements provides a straightforward multifamily configuration.
The property is identified as 24 SW 13th Street, Dania Beach, FL 33004, with units designated 1 through 5. The combination of multiple residential units and recently completed building improvements provides a straightforward multifamily configuration.
Key Highlights
- 5‑unit multifamily property with units 1 through 5
- Renovated kitchens and bathrooms
- New windows, doors, and roof
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
$36,464
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
4.05%
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%
$729,280
$729.3K
Cap Rate 7%
$520,914
$520.9K
Cap Rate 9%
$405,156
$405.2K
Market Conditions
NOI Build-Up for 2,371 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
$69.4K $29.28/SF
− Vacancy
−$3.1K −$1.32/SF
EGI
$66.3K $27.96/SF
− OpEx
−$29.8K −$12.58/SF
NOI
$36.5K $15.38/SF
Area
Broward County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$729,280
Cap Rate 7%
$520,914
Cap Rate 9%
$405,156
Alternative Uses
Best Use
Apartment 5plus
$520.9K
$455.8K – $607.7K
NOI $36,464 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,204 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
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?
Multifamily property - Updated kitchens, bathrooms, building systems, fencing, and coin laundry support the property’s multifamily use.
Where is this multifamily property located?
The property is located at 24 SW 13th Street # 5 Unit 1-5 Dania Beach, FL.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 5‑unit multifamily property with units 1 through 5; Renovated kitchens and bathrooms; New windows, doors, and roof
