Updated Four-Unit
For Sale
$875,000
513 NW 22nd Avenue, Fort Lauderdale, FL 33311
Four residences feature two-bedroom layouts, updated kitchens and baths, and central A/C in three units.
Property Size3,282 SF
Days on Market19
Property Features for 513 NW 22nd Avenue
General Information
Standard status
Active
Size
3,282 SF
Total Parking Spaces
6
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,318
Building Details
Building Size
3,282 SF
Year Built
1972
Listing Agency:
Coldwell Banker Realty
Listed By:
Amanda Labrador · License #3353610
(954) 908-9500
Source:
Tylertuchow
Added: Aug 17
Changed: Sep 2
Last Checked: Sep 4 at 11:36AM
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 Realty
Investment Insights
Based on property information with market context.
Built in 1972, this Fort Lauderdale quadplex contains four two-bedroom, one-bath residences with updated kitchens and bathrooms. Three units have central A/C, and the property includes six parking spaces. A new roof was installed in 2024, adding a recent major improvement to the asset. The property is pet-friendly and does not currently have a laundry room; the rear utility room could be converted for that use.
Located at 513 NW 22nd Ave, the property offers access to I-95, the Brightline station, shopping, and dining. Walk Score is 73, BikeScore is 70, and Transit Score is 38. The four-unit configuration, updated interiors, parking, and newer roof provide a clearly defined multifamily layout for ownership or rental operations.
Located at 513 NW 22nd Ave, the property offers access to I-95, the Brightline station, shopping, and dining. Walk Score is 73, BikeScore is 70, and Transit Score is 38. The four-unit configuration, updated interiors, parking, and newer roof provide a clearly defined multifamily layout for ownership or rental operations.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1‑bath residences
- New roof installed in 2024
- Central A/C in 3 of the 4 units
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
$54,710
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
6.25%
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%
$1,094,200
$1.1M
Cap Rate 7%
$781,571
$781.6K
Cap Rate 9%
$607,889
$607.9K
Market Conditions
NOI Build-Up for 3,282 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
$82.7K $25.20/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$78.2K $23.81/SF
− OpEx
−$23.4K −$7.14/SF
NOI
$54.7K $16.67/SF
Area
Fort Lauderdale, 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%
$1,094,200
Cap Rate 7%
$781,571
Cap Rate 9%
$607,889
Alternative Uses
Best Use
Multifamily LT 5
$781.6K
$683.9K – $911.8K
NOI $54,710 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$704.1K
$616.1K – $821.4K
NOI $49,284 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,385 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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?
Quadplex - Four residences feature two-bedroom layouts, updated kitchens and baths, and central A/C in three units.
Where is this quadplex located?
The property is located at 513 NW 22nd Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1‑bath residences; New roof installed in 2024; Central A/C in 3 of the 4 units
