5-Unit Apartment
New
For Sale
$990,000
3970 NW 31ST Terrace, Lauderdale Lakes, FL 33309
Residential Income, Lauderdale Lakes, FL
Property Size3,534 SF
Lot Size0.20 Acres
Price / SF$280.14
Days on Market3
Property Features for 3970 NW 31ST Terrace
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-16
Bedrooms
7
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 3
Pets allowed
No, Yes
Subdivision
ORIOLE ESTATES SEC 8
Elementary school
Oriole
Middle school
Lauderdale Lakes
High school
Boyd H. Anderson
Standard status
Active
APN
494219152161
Size
3,534 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORIOLE ESTATES SEC 8 65-9 B PT OF TR A DESC AS S 75 OF N 255.71 OF W 118
Tax Annual Amount
18353
Legal Description
ORIOLE ESTATES SEC 8 65-9 B PT OF TR A DESC AS S 75 OF N 255.71 OF W 118
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Oct 12
Last Checked: Oct 14 at 12:06PM
MLS# B26087278
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 3,534-square-foot apartment property contains five units: four two-bedroom, one-bath apartments and one studio. The building dates to 1972 and sits on a 0.2-acre parcel. Most units have updated kitchens and flooring, and the property has PVC plumbing and a roof installed in 2023. Construction is block, with tile flooring, central heating, and electric cooling.
The property is zoned RM-16. Public water and public sewer serve the site, and cable is available. Tenants pay their own electricity.
The property is zoned RM-16. Public water and public sewer serve the site, and cable is available. Tenants pay their own electricity.
Key Highlights
- Five units: four 2‑bedroom, 1‑bath apartments and one studio
- 3,534 square feet on a 0.2‑acre parcel
- RM‑16 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,351
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,087,020
$1.1M
Cap Rate 7%
$776,443
$776.4K
Cap Rate 9%
$603,900
$603.9K
Market Conditions
NOI Build-Up for 3,534 SF
Gross rent
$103.5K $29.28/SF
− Vacancy
−$4.7K −$1.32/SF
EGI
$98.8K $27.96/SF
− OpEx
−$44.5K −$12.58/SF
NOI
$54.4K $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 Rate 5%
$1,087,020
Cap Rate 7%
$776,443
Cap Rate 9%
$603,900
Alternative Uses
Best Use
Apartment 5plus
$776.4K
$679.4K – $905.9K
NOI $54,351 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,506 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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?
Apartment building - Four two-bedroom apartments and a studio establish a clear five-unit residential configuration.
Where is this apartment building located?
The property is located at 3970 NW 31ST Terrace Lauderdale Lakes, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Five units: four 2‑bedroom, 1‑bath apartments and one studio; 3,534 square feet on a 0.2‑acre parcel; RM‑16 zoning
