Renovated Four-Unit Beach
New
For Sale
$2,399,999
2904 N Ocean Blvd 1-4, Fort Lauderdale, FL 33308
Furnished residences support daily, corporate, or long-term leasing near the Atlantic Ocean.
Property Size5,384 SF
Price / SF$445.77
Days on Market3
Property Features for 2904 N Ocean Blvd 1-4
General Information
Standard status
Active
Size
5,384 SF
Total Parking Spaces
5
Units
Unit Mix
2 x 1BR, 2 x 1BR+den
Multifamily Units
4
Additional Details
Furnished
Yes
Amenities
Jacuzzi
lounge deck
sitting areas
fenced yard
tropical landscaping
Building Details
Year Built
1951
Year Renovated
2026
Buildings
1
Listing Agency:
Compass Florida, LLC
Listed By:
Michael Porat · License #3520305
(305) 587-6179
Source:
Chenoregroup
Added: Sep 11
Last Checked: Sep 12 at 2:21PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
Renovated in 2026, this 5,384-square-foot quadplex contains four furnished one-bedroom residences, with two units adding a den or office. The interiors retain original terrazzo flooring and mid-century details while incorporating quartz kitchen counters, custom cabinetry, upgraded appliances, impact windows and doors, Mitsubishi mini-splits, updated plumbing fixtures, recessed lighting, and designer bathroom finishes. Samsung Smart TVs and complete furnishings are included.
The enclosed property is located at 2904 N Ocean Blvd in Fort Lauderdale Beach, two blocks from the Atlantic Ocean. Each residence has outdoor space, including a private enclosed patio and a second-floor private balcony. Tropical landscaping, a lounge deck, sitting areas, a new 12-person Jacuzzi, and five parking spaces complete the exterior improvements. The beach, restaurants, shopping, and entertainment are within walking distance. The four residences are positioned for daily rentals, corporate rentals, or long-term leasing, with the layout also allowing an owner to occupy one residence while using the others for rental activity.
The enclosed property is located at 2904 N Ocean Blvd in Fort Lauderdale Beach, two blocks from the Atlantic Ocean. Each residence has outdoor space, including a private enclosed patio and a second-floor private balcony. Tropical landscaping, a lounge deck, sitting areas, a new 12-person Jacuzzi, and five parking spaces complete the exterior improvements. The beach, restaurants, shopping, and entertainment are within walking distance. The four residences are positioned for daily rentals, corporate rentals, or long-term leasing, with the layout also allowing an owner to occupy one residence while using the others for rental activity.
Key Highlights
- Four furnished one‑bedroom residences; two include an additional den or office
- 5,384‑square‑foot property renovated in 2026
- Two blocks from the Atlantic Ocean in Fort Lauderdale Beach
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
$89,750
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
3.74%
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%
$1,795,000
$1.8M
Cap Rate 7%
$1,282,143
$1.3M
Cap Rate 9%
$997,222
$997.2K
Market Conditions
NOI Build-Up for 5,384 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
$135.7K $25.20/SF
− Vacancy
−$7.5K −$1.39/SF
EGI
$128.2K $23.81/SF
− OpEx
−$38.5K −$7.14/SF
NOI
$89.8K $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%
$1,795,000
Cap Rate 7%
$1,282,143
Cap Rate 9%
$997,222
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,750 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,848 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,263 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
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 - Furnished residences support daily, corporate, or long-term leasing near the Atlantic Ocean.
Where is this quadplex located?
The property is located at 2904 N Ocean Blvd 1-4 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,399,999.
What are key features of this property?
This property features: Four furnished one‑bedroom residences; two include an additional den or office; 5,384‑square‑foot property renovated in 2026; Two blocks from the Atlantic Ocean in Fort Lauderdale Beach
