Updated 4-Plex Income
For Sale
$700,000
Pending
5821 NE 18TH Avenue Unit 1-4, Fort Lauderdale, FL 33334
Four-unit residential income property with separate electric meters and a new roof installed in 2020.
Property Size2,664 SF
Days on Market59
Property Features for 5821 NE 18TH Avenue Unit 1-4
General Information
Standard status
Pending
Size
2,664 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Building Details
Year Built
1961
Listing Agency:
RE/MAX Consultants Realty 1
(954) 767-4667
Listed By:
Julie T Streeter · License #3035668
(954) 439-0007
Source:
Lehmannflorida
Added: Jul 9
Changed: Aug 8
Last Checked: Jul 23 at 5:29AM
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 RE/MAX Consultants Realty 1
Investment Insights
Based on property information with market context.
This 4-plex residential income property includes four units with separate electric meters. Public remarks indicate that two units have substantial updates, while three units currently have annual leases in place. Improvements noted include a new roof in 2020 and recent plumbing updates.
The property is located in the east Fort Lauderdale area. According to the provided information, the asset is positioned as an owner- and tenant-friendly structure with an easy-to-care-for setup.
As presented, the building’s configuration supports a straightforward multi-unit rental arrangement, combining recent exterior and plumbing work with a mix of updated unit interiors.
The property is located in the east Fort Lauderdale area. According to the provided information, the asset is positioned as an owner- and tenant-friendly structure with an easy-to-care-for setup.
As presented, the building’s configuration supports a straightforward multi-unit rental arrangement, combining recent exterior and plumbing work with a mix of updated unit interiors.
Key Highlights
- Four‑unit residential income property built in 1961
- New roof installed in 2020
- Separate electric meters for the 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
$44,408
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
6.34%
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%
$888,160
$888.2K
Cap Rate 7%
$634,400
$634.4K
Cap Rate 9%
$493,422
$493.4K
Market Conditions
NOI Build-Up for 2,664 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
$67.1K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.4K $23.81/SF
− OpEx
−$19.0K −$7.14/SF
NOI
$44.4K $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%
$888,160
Cap Rate 7%
$634,400
Cap Rate 9%
$493,422
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.1K
NOI $44,408 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$571.5K
$500.0K – $666.7K
NOI $40,003 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,315 @ 7.0% cap · market cap 17.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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-unit residential income property with separate electric meters and a new roof installed in 2020.
Where is this quadplex located?
The property is located at 5821 NE 18TH Avenue Unit 1-4 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four‑unit residential income property built in 1961; New roof installed in 2020; Separate electric meters for the units
