7-Unit Multifamily
For Sale
$1,950,000
302 SW 15th Street, Dania Beach, FL 33004
Residential Income, Dania Beach, FL
Property Size4,860 SF
Price / SF$401.23
Days on Market305
Property Features for 302 SW 15th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RD-8000
Bedrooms
7
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 7, Bathroom 2, Bathroom 6, Bathroom 5, Bathroom 3, Bedroom 2, Bedroom 3
Exterior features
Barbecue
Subdivision
North Hollywood 4-1 B
Standard status
Active
APN
514203101730
Size
4,860 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
NORTH HOLLYWOOD 4-1 B LOTS 8 TO 10 BLK 18
Tax Annual Amount
31190
Legal Description
NORTH HOLLYWOOD 4-1 B LOTS 8 TO 10 BLK 18
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Electric, Central Air, Ceiling Fan(s), Wall/Window Unit(s)
Building Details
Year built
1953
Floors in Building
1
Number of units
4
Flooring type
Concrete, Tile
Building materials
CBS, Concrete Block - No Stucco, Frame, Stucco
Roof type
Barrel, Bahama
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Nov 20, 2025
Changed: Sep 20
Last Checked: Sep 21 at 7:06AM
MLS# F10537314
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 multifamily property contains 7 units across a main building and two detached single-family homes. The primary structure includes five units: four one-bedroom, one-bath apartments and one studio. Each additional home offers 3 bedrooms and 2 bathrooms, creating a varied residential income configuration across the property’s 4,860 square feet.
One of the detached homes has undergone a comprehensive renovation that includes new flooring, updated bathrooms, a new roof, a modernized kitchen, countertops, and new appliances. Both homes include private yards and separate laundry facilities. The property occupies just over 1/2 acre and is zoned RD-8000, with public sewer service. Built in 1953, the improvements include concrete block and frame construction, central heating, and multiple cooling configurations.
One of the detached homes has undergone a comprehensive renovation that includes new flooring, updated bathrooms, a new roof, a modernized kitchen, countertops, and new appliances. Both homes include private yards and separate laundry facilities. The property occupies just over 1/2 acre and is zoned RD-8000, with public sewer service. Built in 1953, the improvements include concrete block and frame construction, central heating, and multiple cooling configurations.
Key Highlights
- 7 total units: five apartments plus two 3‑bedroom, 2‑bath homes
- Main building includes four 1‑bed/1‑bath units and one studio
- 4,860 square feet on just over 1/2 acre
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
$74,743
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
3.83%
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%
$1,494,860
$1.5M
Cap Rate 7%
$1,067,757
$1.1M
Cap Rate 9%
$830,478
$830.5K
Market Conditions
NOI Build-Up for 4,860 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
$142.3K $29.28/SF
− Vacancy
−$6.4K −$1.32/SF
EGI
$135.9K $27.96/SF
− OpEx
−$61.2K −$12.58/SF
NOI
$74.7K $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%
$1,494,860
Cap Rate 7%
$1,067,757
Cap Rate 9%
$830,478
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$934.3K – $1.25M
NOI $74,743 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,598 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,193
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Mixed residential configuration includes apartments and two detached homes with private yards and separate laundry.
Where is this multifamily property located?
The property is located at 302 SW 15th Street Dania Beach, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 7 total units: five apartments plus two 3‑bedroom, 2‑bath homes; Main building includes four 1‑bed/1‑bath units and one studio; 4,860 square feet on just over 1/2 acre
