5-Unit Apartment
For Sale
Contact for pricing
4020 NW 31st Ter # 5 #1-5, Lauderdale Lakes, FL 33309
Single-story multifamily property with varied unit layouts, central air conditioning, resident parking, and a shared fenced outdoor area.
Property Size3,534 SF
Lot Size0.20 Acres
Price / SF$263.16
Days on Market17
Property Features for 4020 NW 31st Ter # 5 #1-5
General Information
Standard status
Active
Size
3,534 SF
Total Parking Spaces
5
Lot size
0.20 Acres
Property subtype
Multifamily
Zoning
RM-16
Occupancy
80%
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Highway Access
Yes
Amenities
central A/C
fenced shared courtyard/yard
Building Details
Year Built
1971
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Residential RE
Listed By:
Benson Paul · License #3370893
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Sep 2 at 5:27PM
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 Coldwell Banker Residential RE
Investment Insights
Based on property information with market context.
This single-story apartment property contains five units within approximately 3,534 SF of building area. The configuration includes three 2-bedroom/1-bath apartments, one 1-bedroom/1-bath apartment, and one studio. Central A/C serves the building, while eight parking spaces include assigned resident spaces and two guest spaces. A fenced common courtyard and yard provide shared outdoor space. The property was built in 1971 and is zoned RM-16.
Four of the five units are occupied. Residents pay their own electricity, while ownership covers water and trash. The property is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. There is no HOA, and the offering is available for sale AS-IS.
Four of the five units are occupied. Residents pay their own electricity, while ownership covers water and trash. The property is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. There is no HOA, and the offering is available for sale AS-IS.
Key Highlights
- Five‑unit layout: three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio
- Approximately 3,534 SF building on an approximately 8,850 SF lot
- Four of five units occupied at present
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
$54,351
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
5.84%
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%
$1,087,020
$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
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
$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 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%
$1,087,020
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 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,506 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
80%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
990
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-story multifamily property with varied unit layouts, central air conditioning, resident parking, and a shared fenced outdoor area.
Where is this apartment building located?
The property is located at 4020 NW 31st Ter # 5 #1-5 Lauderdale Lakes, FL.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Five‑unit layout: three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio; Approximately 3,534 SF building on an approximately 8,850 SF lot; Four of five units occupied at present
