5-Unit Single-Story Apartment
For Sale
$800,000
4020 NW 31st Terrace #1-5, Lauderdale Lakes, FL 33309
Five rental units with central air conditioning, resident parking, and a fenced shared courtyard.
Property Size3,534 SF
Price / SF$226.37
Days on Market64
Property Features for 4020 NW 31st Terrace #1-5
General Information
Standard status
Active
Size
3,534 SF
Property subtype
Multi Family
Building Details
Year Built
1971
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Benson Paul · License #3370893
(954) 303-2673
Source:
Lehmannflorida
Added: Aug 19
Changed: Oct 21
Last Checked: Oct 20 at 8:59PM
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 EXP Realty LLC
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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 a fenced shared courtyard and yard provide common outdoor space. The approximately 8,850 SF lot includes eight parking spaces, with assigned resident parking and two guest spaces.
Four of the five units are occupied. Tenants pay their own electricity, and the owner covers water and trash. The property is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. Walk Score is 53, Bike Score is 58, and Transit Score is 35. The sale is offered AS-IS.
Four of the five units are occupied. Tenants pay their own electricity, and the owner covers water and trash. The property is approximately 5 minutes from I-95 and 15 minutes from downtown Ft Lauderdale. Walk Score is 53, Bike Score is 58, and Transit Score is 35. The sale is offered AS-IS.
Key Highlights
- Five‑unit mix: 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
- 4 out of 5 units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,351
Cap Rate
6.79%
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 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,506 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five rental units with central air conditioning, resident parking, and a fenced shared courtyard.
Where is this apartment building located?
The property is located at 4020 NW 31st Terrace #1-5 Lauderdale Lakes, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Five‑unit mix: 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; 4 out of 5 units currently occupied
