Four-Unit Short-Term Rental with Privacy
For Sale
$875,000
305 SW 16th Street, Fort Lauderdale, FL 33315
MULTI_FAMILY - Fort Lauderdale, FL
Property Size2,530 SF
Lot Size0.15 Acres
Price / SF$345.85
Days on Market94
Property Features for 305 SW 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-15
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6
Exterior features
Courtyard, Barbecue, Garden
Fencing
Gate, Privacy
Subdivision
Croissant Park
Lot features
Oversized Lot
Elementary school
Croissant Park
Middle school
New River
High school
Stranahan
Directions
From Davie Blvd go south on SW 4th Ave. Go east on SW 16th St to the property.
Standard status
Active
APN
504215013490
Size
2,530 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAUDERDALE 2-9 D LOT 34 BLK 58
Tax Annual Amount
13551
Legal Description
LAUDERDALE 2-9 D LOT 34 BLK 58
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
David R Carlton · License #3245910
(954) 903-8114
Added: May 23
Changed: Aug 5
Last Checked: Aug 24 at 10:06PM
MLS# B26032225
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.
Four-Unit short-term rental portfolio sold in tandem, including 301 and 305 SW 16th St on two lots. The property totals four units, each built with a spacious 3/2 split floor plan that features an open living and dining area, a full kitchen, and an in-unit laundry setup. Central air and ceiling fans are included, with tile flooring throughout and a shingle roof. Constructed with block materials and built in 2004, the layout supports privacy with separate bedroom areas and a master bedroom with an ensuite bath.
The two buildings combine for 12 total bedrooms across the portfolio. The exterior includes a courtyard, barbecue area, and garden space, all enclosed by gate and privacy fencing designed to create a secured environment for residents.
Utilities include public water and public sewer, with cable available, supporting day-to-day operation for short-term housing. Exterior access is configured around the enclosed, secured perimeter and on-site enclosed/enhanced privacy features.
The two buildings combine for 12 total bedrooms across the portfolio. The exterior includes a courtyard, barbecue area, and garden space, all enclosed by gate and privacy fencing designed to create a secured environment for residents.
Utilities include public water and public sewer, with cable available, supporting day-to-day operation for short-term housing. Exterior access is configured around the enclosed, secured perimeter and on-site enclosed/enhanced privacy features.
Key Highlights
- Portfolio includes 301 and 305 SW 16th St sold in tandem on 2 lots, totaling 4 units
- Each unit offers a 3/2 split floor plan with open living/dining, full kitchen, and laundry
- RM‑15 zoning with gated privacy fencing enclosing the property
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
$37,991
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
4.34%
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%
$759,820
$759.8K
Cap Rate 7%
$542,729
$542.7K
Cap Rate 9%
$422,122
$422.1K
Market Conditions
NOI Build-Up for 2,530 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
$72.9K $28.80/SF
− Vacancy
−$3.8K −$1.50/SF
EGI
$69.1K $27.30/SF
− OpEx
−$31.1K −$12.29/SF
NOI
$38.0K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /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%
$759,820
Cap Rate 7%
$542,729
Cap Rate 9%
$422,122
Alternative Uses
Best Use
Apartment 5plus
$542.7K
$474.9K – $633.2K
NOI $37,991 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $119,011 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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?
Short term rental property - Four units on RM-15 zoning with gated privacy fencing, central air, and each unit with a full kitchen and laundry.
Where is this short term rental property located?
The property is located at 305 SW 16th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Portfolio includes 301 and 305 SW 16th St sold in tandem on 2 lots, totaling 4 units; Each unit offers a 3/2 split floor plan with open living/dining, full kitchen, and laundry; RM‑15 zoning with gated privacy fencing enclosing the property
