Renovated Quadplex with Impact
For Sale
$929,000
2620 NW 18th TER, Oakland Park, FL 33311
MULTI_FAMILY - Other - Oakland Park, FL
Property Size2,976 SF
Price / SF$312.16
Days on Market53
Property Features for 2620 NW 18th TER
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-1
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 3, Bedroom 2
Parking
8
Subdivision
28-49-42
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
494228000360
Size
2,976 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
28-49-42 S 85 OF N 405 OF E1/2 OF E1/2 OF SE1/4 OF SW1/4 OF NW1/4 LESS W 25 FOR RD
Tax Annual Amount
20035
Legal Description
28-49-42 S 85 OF N 405 OF E1/2 OF E1/2 OF SE1/4 OF SW1/4 OF NW1/4 LESS W 25 FOR RD
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Amenities
in-unit washer & dryer
impact windows
Building Details
Year built
1964
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Elite Sales Group
(305) 554-1544
Listed By:
Daniel Echague · License #3280149
(305) 283-9594
Added: Jul 1
Changed: Aug 1
Last Checked: Aug 22 at 9:06PM
MLS# A12018901
Copyright © 2026 Miami REALTORS®. 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.
Renovated quadplex investment with four units, built with block construction and a shingle roof. The property features spacious two-bedroom, one-bath layouts and includes in-unit washer and dryer, assigned parking, vinyl flooring, and modern finishes. Interior updates described include updated kitchens and bathrooms, flooring, appliances, and impact windows.
The property includes separate electric and water meters. Cooling is provided by central air and wall/window unit(s), and the home is connected to public sewer.
Located at 2620 NW 18th TER in Oakland Park, FL 33311, the quadplex is positioned near Downtown Fort Lauderdale, Wilton Manors, I-95, Las Olas, beaches, shopping, dining, and major employment hubs.
The property includes separate electric and water meters. Cooling is provided by central air and wall/window unit(s), and the home is connected to public sewer.
Located at 2620 NW 18th TER in Oakland Park, FL 33311, the quadplex is positioned near Downtown Fort Lauderdale, Wilton Manors, I-95, Las Olas, beaches, shopping, dining, and major employment hubs.
Key Highlights
- Renovated four‑unit quadplex with two‑bedroom, one‑bath layouts
- In‑unit washer and dryer plus assigned parking
- Impact windows and updated kitchens and bathrooms
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
$49,609
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
5.34%
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%
$992,180
$992.2K
Cap Rate 7%
$708,700
$708.7K
Cap Rate 9%
$551,211
$551.2K
Market Conditions
NOI Build-Up for 2,976 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
$75.0K $25.20/SF
− Vacancy
−$4.1K −$1.39/SF
EGI
$70.9K $23.81/SF
− OpEx
−$21.3K −$7.14/SF
NOI
$49.6K $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%
$992,180
Cap Rate 7%
$708,700
Cap Rate 9%
$551,211
Alternative Uses
Best Use
Multifamily LT 5
$708.7K
$620.1K – $826.8K
NOI $49,609 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$653.8K
$572.1K – $762.8K
NOI $45,769 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,690 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Renovated 4-unit quadplex with in-unit washer and dryer and separate electric and water meters, plus assigned parking.
Where is this quadplex located?
The property is located at 2620 NW 18th TER Oakland Park, FL.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Renovated four‑unit quadplex with two‑bedroom, one‑bath layouts; In‑unit washer and dryer plus assigned parking; Impact windows and updated kitchens and bathrooms
