Multifamily Property with Renovated
633 NW 15th Avenue Fort Lauderdale, FL 33311
For Sale
$695,000
Pending
Four units across three separate buildings with recently renovated interiors, sold as-is with ample parking and outdoor space.
Property Size2,622 SF
Days on Market89
Property Features for 633 NW 15th Avenue
General Information
- Standard status
- Pending
- Size
- 2,622 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1958
Listing Agency:
LPT REALTY, LLC
(954) 681-1331
Listed By:
ELAINA TORRES-SALINAS · License #B26020398
Source:
Corcoran
Added: Apr 26
Changed: Jul 22
Last Checked: Jul 23 at 9:46AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This multifamily property consists of four units spread across three separate buildings. The interiors were renovated a few years ago, and the property is being sold as-is. While the current configuration totals four units, it was recently being operated as eleven units and is built out as such.
The property is located just north of Sistrunk Blvd, with walking distance to several local parks. Access is described as easy to Sunrise and Broward Blvd, and it is approximately five minutes from downtown Fort Lauderdale and Flagler Village. The property is located in an opportunity zone.
The exterior setup includes plenty of parking and outdoor space, offering flexibility for tenant-facing common areas and site use within the existing layout.
The property is located just north of Sistrunk Blvd, with walking distance to several local parks. Access is described as easy to Sunrise and Broward Blvd, and it is approximately five minutes from downtown Fort Lauderdale and Flagler Village. The property is located in an opportunity zone.
The exterior setup includes plenty of parking and outdoor space, offering flexibility for tenant-facing common areas and site use within the existing layout.
Key Highlights
- Four‑unit multifamily property across three separate buildings
- Interiors were renovated a few years ago
- Previously operated as eleven units, built out as such
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.5k | $28.80 |
| − Vacancy | −$3.9k | −$1.50 |
| EGI | $71.6k | $27.30 |
| − OpEx | −$32.2k | −$12.29 |
| NOI | $39.4k | $15.02 |
2,622 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$562.5K
$492.2K – $656.2K
NOI $39,373 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,339 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Four units across three separate buildings with recently renovated interiors, sold as-is with ample parking and outdoor space.
Where is this apartment building located?
The property is located at 633 NW 15th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four‑unit multifamily property across three separate buildings; Interiors were renovated a few years ago; Previously operated as eleven units, built out as such
