Four-Unit Corner Apartment
4731 NE 21ST Terrace, Lighthouse Point, FL 33064
For Sale
New
$1,100,000
Four two-bedroom apartments offer open layouts, breakfast bars, and on-site laundry.
Property Size3,877 SF
Price / SF$283.72
Days on Market4
Property Features for 4731 NE 21ST Terrace
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
coin-operated laundry
storage rooms
shed
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Berkshire Hathaway Florida Rea
Listed By:
Ram Almog · License #3207875
(561) 208-6483
Source:
Pamandtoni
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 7:56AM
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 Berkshire Hathaway Florida Rea
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Investment Insights
Based on property information with market context.
This 3,877-square-foot multifamily property contains four apartments, each with two bedrooms, one full bathroom, and a half bathroom. The units have open layouts and breakfast bars. Building features include impact-resistant windows, central air conditioning, water heaters, coin-operated laundry, two storage rooms, and an additional shed. The roof dates to 2013, and the property was built in 1967. A 40/10-year recertification has been completed.
The corner property is east of US-1 and directly across from Dan Witt Park. Shopping and restaurants are nearby. On-site parking accommodates up to 15 vehicles. There is no homeowners association or rental restriction, and the property currently generates rental income.
The corner property is east of US-1 and directly across from Dan Witt Park. Shopping and restaurants are nearby. On-site parking accommodates up to 15 vehicles. There is no homeowners association or rental restriction, and the property currently generates rental income.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 3,877 square feet; built in 1967
- Corner property east of US‑1, across from Dan Witt Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,243
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,860
$1.2M
Cap Rate 7%
$846,329
$846.3K
Cap Rate 9%
$658,256
$658.3K
Market Conditions
NOI Build-Up for 3,877 SF
Gross rent
$114.0K $29.40/SF
− Vacancy
−$6.3K −$1.62/SF
EGI
$107.7K $27.78/SF
− OpEx
−$48.5K −$12.50/SF
NOI
$59.2K $15.28/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,860
Cap Rate 7%
$846,329
Cap Rate 9%
$658,256
Alternative Uses
Best Use
Apartment 5plus
$846.3K
$740.5K – $987.4K
NOI $59,243 @ 7.0% cap · market cap 5.39%
Second Best
Multifamily LT 5
$650.2K
$569.0K – $758.6K
NOI $45,517 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,688 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,715
Businesses Nearby
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Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Broward County, FL
Properties on Market for Quadplexes in Broward County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments offer open layouts, breakfast bars, and on-site laundry.
Where is this quadplex located?
The property is located at 4731 NE 21ST Terrace Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1.5 bathrooms; 3,877 square feet; built in 1967; Corner property east of US‑1, across from Dan Witt Park
