Triplex With Matching Unit
For Sale
$550,000
633 NW 15TH Terrace, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size1,632 SF
Lot Size0.10 Acres
Price / SF$337.01
Days on Market49
Property Features for 633 NW 15TH Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RC-15
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Patio and Porch features
Patio
Subdivision
DORSEY PARK
Elementary school
Sunland Park Academy
Middle school
Parkway
High school
Stranahan
Standard status
Active
APN
504204230230
Size
1,632 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DORSEY PARK 19-5 B LOT 24 BLK 2
Tax Annual Amount
9125
Legal Description
DORSEY PARK 19-5 B LOT 24 BLK 2
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Number of units
3
Flooring type
Tile, Laminate
Building materials
Block, CBS, Stucco
Roof type
Built-Up, Rolled Hot Mop
Listing Agency:
Brookfield Executive Real Esta
(954) 951-9344
Listed By:
Devin M Ruiz · License #3318029
(954) 429-5649
Added: Jul 22
Changed: Sep 8
Last Checked: Sep 8 at 7:06PM
MLS# B26055393
Copyright © 2026 BeachesMLS. 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 triplex contains 1,632 square feet across three residences with matching layouts. Each unit includes one bedroom, one bathroom, and an additional den. The property was built in 1959 and uses block, CBS, and stucco construction, with tile and laminate flooring throughout the units. Individual features include patios, electric heating, window or wall/window cooling units, and ceiling fans.
The property occupies 0.1 acres in Fort Lauderdale and is situated near a hospital and city transportation. It carries RC-15 zoning and is served by public water and public sewer. Water is available, and the roof is described as rolled hot mop and built-up.
The property occupies 0.1 acres in Fort Lauderdale and is situated near a hospital and city transportation. It carries RC-15 zoning and is served by public water and public sewer. Water is available, and the roof is described as rolled hot mop and built-up.
Key Highlights
- Three units with identical layouts
- Each residence has 1 bedroom, 1 bathroom, and an additional den
- 1,632 square feet on a 0.1‑acre lot
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
$27,205
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
4.95%
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%
$544,100
$544.1K
Cap Rate 7%
$388,643
$388.6K
Cap Rate 9%
$302,278
$302.3K
Market Conditions
NOI Build-Up for 1,632 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
$41.1K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$38.9K $23.81/SF
− OpEx
−$11.7K −$7.14/SF
NOI
$27.2K $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%
$544,100
Cap Rate 7%
$388,643
Cap Rate 9%
$302,278
Alternative Uses
Best Use
Multifamily LT 5
$388.6K
$340.1K – $453.4K
NOI $27,205 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$350.1K
$306.3K – $408.5K
NOI $24,507 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,769 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,173
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?
Triplex - Three matching residences each include a den alongside the bedroom and bathroom.
Where is this triplex located?
The property is located at 633 NW 15TH Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three units with identical layouts; Each residence has 1 bedroom, 1 bathroom, and an additional den; 1,632 square feet on a 0.1‑acre lot
