Renovated Quadplex with Two
53 NE 16TH Place, Fort Lauderdale, FL 33305
For Sale
$1,035,000
Separate front and rear structures offer flexible arrangements for living, guest use, or rental income.
Property Size2,503 SF
Price / SF$413.50
Days on Market8
Property Features for 53 NE 16TH Place
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Gross Income
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Charles Rutenberg Realty FTL
(954) 396-3001
Listed By:
Rachamim Yosef · License #3235300
(954) 812-9293
Source:
Lehmannflorida
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 6:02AM
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 Charles Rutenberg Realty FTL
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Investment Insights
Based on property information with market context.
This renovated quadplex comprises two separate buildings, positioned at the front and rear of the property. Improvements include impact windows, a new roof, tile flooring, updated plumbing and electrical completed with permits, and new fencing. The interior features a contemporary kitchen with new appliances, updated bathrooms, and a washer and dryer.
The property is in Fort Lauderdale, Florida, approximately 10 minutes from the beach. Built in 1951, the buildings contain a combined 2,503 square feet. The property generates $95,400 in yearly gross income.
The property is in Fort Lauderdale, Florida, approximately 10 minutes from the beach. Built in 1951, the buildings contain a combined 2,503 square feet. The property generates $95,400 in yearly gross income.
Key Highlights
- Two separate buildings at the front and rear of the property
- 2,503 square feet of building area
- Impact windows and a new roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,725
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,500
$834.5K
Cap Rate 7%
$596,071
$596.1K
Cap Rate 9%
$463,611
$463.6K
Market Conditions
NOI Build-Up for 2,503 SF
Gross rent
$63.1K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$59.6K $23.81/SF
− OpEx
−$17.9K −$7.14/SF
NOI
$41.7K $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 Rate 5%
$834,500
Cap Rate 7%
$596,071
Cap Rate 9%
$463,611
Alternative Uses
Best Use
Multifamily LT 5
$596.1K
$521.6K – $695.4K
NOI $41,725 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$536.9K
$469.8K – $626.4K
NOI $37,586 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,741 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
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Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Fort Lauderdale, FL
Properties on Market for Quadplexes in Fort Lauderdale
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Separate front and rear structures offer flexible arrangements for living, guest use, or rental income.
Where is this quadplex located?
The property is located at 53 NE 16TH Place Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,035,000.
What are key features of this property?
This property features: Two separate buildings at the front and rear of the property; 2,503 square feet of building area; Impact windows and a new roof
