Four-Unit Multifamily
For Sale
$1,375,000
608 SW 16th Ave, Fort Lauderdale, FL 33312
Residential Income, Fort Lauderdale, FL
Property Size4,855 SF
Price / SF$283.21
Days on Market43
Property Features for 608 SW 16th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-15
Bedrooms
12
Full bathrooms
8
Rooms
Bathroom 1, Bedroom 11, Bedroom 8, Bathroom 4, Bathroom 6, Bedroom 4, Bedroom 3, Bedroom 12, Bathroom 3, Bathroom 7, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 8, Bedroom 7, Bathroom 5, Bedroom 9, Bathroom 2, Bedroom 6, Bedroom 10
Parking
5
Security features
Security
Exterior features
Security/High Impact Doors
Subdivision
RIVERSIDE NO 2
Lot features
< 1/4 Acre
Standard status
Active
APN
504209030018
Size
4,855 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
RIVERSIDE NO 2 1-104 D LOT 4 W 140 BLK A
Tax Annual Amount
22023
Legal Description
RIVERSIDE NO 2 1-104 D LOT 4 W 140 BLK A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
IRG
(305) 507-5546
Listed By:
Cuindney Mantilla · License #3325552
(203) 508-2407
Added: Jul 18
Changed: Aug 27
Last Checked: Aug 29 at 8:06AM
MLS# A12010891
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 four-unit multifamily property contains 4,855 square feet and was built in 1970. The building uses block construction with tile flooring, central heating, central air conditioning, security/high-impact doors, and a shingle roof reported as 16 years old.
Public water and public sewer serve the property. The asset is located at 608 SW 16th Ave in Fort Lauderdale, within Broward County, and carries the 33312 postal code.
Public water and public sewer serve the property. The asset is located at 608 SW 16th Ave in Fort Lauderdale, within Broward County, and carries the 33312 postal code.
Key Highlights
- Four‑unit multifamily property with 4,855 square feet
- Built in 1970 with block construction
- Tile flooring throughout the listed property features
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
$80,932
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
5.89%
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%
$1,618,640
$1.6M
Cap Rate 7%
$1,156,171
$1.2M
Cap Rate 9%
$899,244
$899.2K
Market Conditions
NOI Build-Up for 4,855 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
$122.3K $25.20/SF
− Vacancy
−$6.7K −$1.39/SF
EGI
$115.6K $23.81/SF
− OpEx
−$34.7K −$7.14/SF
NOI
$80.9K $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%
$1,618,640
Cap Rate 7%
$1,156,171
Cap Rate 9%
$899,244
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,932 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$1.04M
$911.3K – $1.22M
NOI $72,904 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$3.26M
$2.85M – $3.81M
NOI $228,379 @ 7.0% cap · market cap 16.61%
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
928
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 - Established 1970 block construction with tile flooring, central heating and air conditioning, and public utilities.
Where is this quadplex located?
The property is located at 608 SW 16th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 4,855 square feet; Built in 1970 with block construction; Tile flooring throughout the listed property features
