Renovated Triplex in Oakland
For Sale
$745,000
3641 NE 1st Ter, Oakland Park, FL 33334
Completely renovated triplex in Oakland Park with modern amenities.
Property Size2,424 SF
Days on Market265
Property Features for 3641 NE 1st Ter
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,096
Building Details
Building Size
2,424 SF
Year Built
1972
Stories
1
Units
3
Listing Agency:
Bluesage Realty
(954) 849-5054
Listed By:
Beatriz Penate
(954) 849-5054
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:42AM
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 Bluesage Realty
Investment Insights
Based on property information with market context.
This renovated triplex is located in Oakland Park. Each unit features a new bathroom, new kitchen, stainless steel appliances, laundry facilities, impact windows, and an open layout. The property is fenced and currently has tenants in place. The roof was replaced in 2021. This property is intended for use as a residential income property.
Key Highlights
- Completely renovated triplex, offering immediate income potential.
- Each unit features a new bathroom and new kitchen with stainless steel appliances, and in‑unit laundry.
- Impact windows throughout 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
$40,408
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
5.42%
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%
$808,160
$808.2K
Cap Rate 7%
$577,257
$577.3K
Cap Rate 9%
$448,978
$449.0K
Market Conditions
NOI Build-Up for 2,424 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
$61.1K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$57.7K $23.81/SF
− OpEx
−$17.3K −$7.14/SF
NOI
$40.4K $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%
$808,160
Cap Rate 7%
$577,257
Cap Rate 9%
$448,978
Alternative Uses
Best Use
Multifamily LT 5
$577.3K
$505.1K – $673.5K
NOI $40,408 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$532.6K
$466.0K – $621.3K
NOI $37,279 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,086 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Completely renovated triplex in Oakland Park with modern amenities.
Where is this triplex located?
The property is located at 3641 NE 1st Ter Oakland Park, FL.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Completely renovated triplex, offering immediate income potential.; Each unit features a new bathroom and new kitchen with stainless steel appliances, and in‑unit laundry.; Impact windows throughout the property.
