Renovated Triplex with
For Sale
$799,997
353 SW 19th Avenue, Fort Lauderdale, FL 33312
Renovated three-unit CBS triplex with an on-site laundry room and tenant-paid water and electricity.
Property Size2,525 SF
Days on Market61
Property Features for 353 SW 19th Avenue
General Information
Standard status
Active
Size
2,525 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,658
Building Details
Building Size
2,525 SF
Year Built
1967
Listing Agency:
BAWONS Properties, Inc
(305) 509-8336
Listed By:
Wendy Pierre · License #3272185
(305) 509-8336
Source:
Tylertuchow
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 30 at 9:58PM
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 BAWONS Properties, Inc
Investment Insights
Based on property information with market context.
This renovated triplex offers three spacious units housed in durable CBS construction, originally built in 1967. The property has been renovated multiple times over the years and includes a dedicated laundry room for residents. Lease terms include two tenants on month-to-month arrangements, providing flexibility for an owner while maintaining ongoing rental income from all three units.
Located in the Riverside Park neighborhood of Fort Lauderdale, the property is positioned for residents who prefer non-vehicle mobility, with BikeScore of 67 and walkScore of 58. TransitScore is listed at 47, indicating some access to transit options based on the provided data.
The unit mix and month-to-month flexibility can fit a range of owners, whether you’re adding to a small portfolio or seeking to live in the building while renting additional units. With tenants paying for their water and electricity, the property’s operating setup is straightforward from a practical standpoint. As a three-unit income property, it can also support scenarios where an owner-occupant wants to offset living expenses by renting the remaining units.
Located in the Riverside Park neighborhood of Fort Lauderdale, the property is positioned for residents who prefer non-vehicle mobility, with BikeScore of 67 and walkScore of 58. TransitScore is listed at 47, indicating some access to transit options based on the provided data.
The unit mix and month-to-month flexibility can fit a range of owners, whether you’re adding to a small portfolio or seeking to live in the building while renting additional units. With tenants paying for their water and electricity, the property’s operating setup is straightforward from a practical standpoint. As a three-unit income property, it can also support scenarios where an owner-occupant wants to offset living expenses by renting the remaining units.
Key Highlights
- 1967‑built CBS construction triplex in the Riverside Park neighborhood
- Renovated three‑unit property with on‑site laundry room
- Two tenants on month‑to‑month leases; all tenants pay for their water and electricity
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
$42,091
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
5.26%
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%
$841,820
$841.8K
Cap Rate 7%
$601,300
$601.3K
Cap Rate 9%
$467,678
$467.7K
Market Conditions
NOI Build-Up for 2,525 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
$63.6K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$60.1K $23.81/SF
− OpEx
−$18.0K −$7.14/SF
NOI
$42.1K $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%
$841,820
Cap Rate 7%
$601,300
Cap Rate 9%
$467,678
Alternative Uses
Best Use
Multifamily LT 5
$601.3K
$526.1K – $701.5K
NOI $42,091 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$541.7K
$474.0K – $631.9K
NOI $37,916 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,776 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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?
Triplex - Renovated three-unit CBS triplex with an on-site laundry room and tenant-paid water and electricity.
Where is this triplex located?
The property is located at 353 SW 19th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,997.
What are key features of this property?
This property features: 1967‑built CBS construction triplex in the Riverside Park neighborhood; Renovated three‑unit property with on‑site laundry room; Two tenants on month‑to‑month leases; all tenants pay for their water and electricity
