Multifamily Property with Renovated
For Sale
$695,000
Pending
633 NW 15th Avenue, Fort Lauderdale, FL 33311
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 Market179
Property Features for 633 NW 15th Avenue
General Information
Standard status
Pending
Size
2,622 SF
Property subtype
Commercial
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$21,257
Amenities
Central air
Common
Flat Roof
Tile Flooring
Wall Window Units Cooling
Building Details
Year Built
1958
Listing Agency:
LPT REALTY, LLC
Listed By:
ELAINA TORRES-SALINAS · License #B26020398
(954) 681-1331
Source:
Corcoran
Added: Apr 26
Changed: Oct 10
Last Checked: Oct 20 at 8:28PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$39,373
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,460
$787.5K
Cap Rate 7%
$562,471
$562.5K
Cap Rate 9%
$437,478
$437.5K
Market Conditions
NOI Build-Up for 2,622 SF
Gross rent
$75.5K $28.80/SF
− Vacancy
−$3.9K −$1.50/SF
EGI
$71.6K $27.30/SF
− OpEx
−$32.2K −$12.29/SF
NOI
$39.4K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,460
Cap Rate 7%
$562,471
Cap Rate 9%
$437,478
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 authorities.
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Location Intelligence
Trade Area within ½ mile
1,496
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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
