Updated Four-Unit
For Sale
$825,000
535 NW 13th Ave, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size2,334 SF
Price / SF$353.47
Days on Market12
Property Features for 535 NW 13th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RS-8
Bedrooms
8
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 8
Parking
6
Subdivision
FIRST ADD TO TUSKEGEE PAR
Lot features
< 1/4 Acre
Standard status
Active
APN
504204060640
Size
2,334 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FIRST ADD TO TUSKEGEE PARK 9-65 B LOT 9 BLK 4
Tax Annual Amount
7241
Legal Description
FIRST ADD TO TUSKEGEE PARK 9-65 B LOT 9 BLK 4
Utilities
Cooling system
Central Air
Building Details
Year built
1978
Floors in Building
1
Architectural style
Other
Listing Agency:
Trustpoint Realty, LLC.
(305) 200-0348
Listed By:
Joseph Suarez · License #3366522
(305) 200-0348
Added: Aug 18
Changed: Aug 26
Last Checked: Aug 29 at 5:06AM
MLS# A12073375
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Fort Lauderdale multifamily property contains two side-by-side duplex buildings on separate folios, with four 2BR/1BA apartments totaling 2,334 square feet. The units feature updated kitchens and bathrooms, central A/C, and six parking spaces. Built in 1978, the property currently has three occupied apartments and one vacancy.
Located at 535 NW 13th Ave in the 33311 submarket, the property offers access to major roadways, shopping, dining, and employment centers. The four-unit configuration and existing vacancy provide a straightforward basis for evaluating current operations and future leasing activity.
Located at 535 NW 13th Ave in the 33311 submarket, the property offers access to major roadways, shopping, dining, and employment centers. The four-unit configuration and existing vacancy provide a straightforward basis for evaluating current operations and future leasing activity.
Key Highlights
- Four 2BR/1BA apartment units across two side‑by‑side duplex buildings
- 2,334 square feet on two separate folios
- Updated kitchens and bathrooms with central A/C
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
$38,907
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
4.72%
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%
$778,140
$778.1K
Cap Rate 7%
$555,814
$555.8K
Cap Rate 9%
$432,300
$432.3K
Market Conditions
NOI Build-Up for 2,334 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
$58.8K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.6K $23.81/SF
− OpEx
−$16.7K −$7.14/SF
NOI
$38.9K $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%
$778,140
Cap Rate 7%
$555,814
Cap Rate 9%
$432,300
Alternative Uses
Best Use
Multifamily LT 5
$555.8K
$486.3K – $648.5K
NOI $38,907 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$500.7K
$438.1K – $584.1K
NOI $35,048 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,791 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,653
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 - Two side-by-side duplex buildings provide updated apartments with central air and on-site parking in Fort Lauderdale.
Where is this quadplex located?
The property is located at 535 NW 13th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four 2BR/1BA apartment units across two side‑by‑side duplex buildings; 2,334 square feet on two separate folios; Updated kitchens and bathrooms with central A/C
