Four-Unit Multifamily
For Sale
$520,000
635 NW 22ND Road, Fort Lauderdale, FL 33311
The mix pairs a two-bedroom apartment with three efficiency units.
Property Size1,810 SF
Price / SF$287.29
Days on Market11
Property Features for 635 NW 22ND Road
General Information
Standard status
Active
Size
1,810 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
CB
Units
Unit Mix
1 x 2BR/1BA, 3 x studio/efficiency
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,416
Building Details
Building Size
1,810 SF
Year Built
1967
Stories
1
Listing Agency:
Fidelity Realty Advisors Inc
Listed By:
Jack R Watlington · License #3139881
(561) 222-6331
Source:
Laerrealty
Added: Oct 9
Changed: Oct 14
Last Checked: Oct 19 at 3:55AM
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 Fidelity Realty Advisors Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1967, this four-unit property contains one apartment with two bedrooms and one bathroom, plus three studio-style units. The larger unit has a separate living room, kitchen, and central A/C; each efficiency includes an open living and sleeping area, kitchen, bathroom, and window A/C. Each unit also has its own water heater. All four units are vacant, and the property is in average rental-grade condition.
Recorded improvements include a roof permitted in 2022, paved parking completed in 2019, and selected impact windows and doors installed in 2016. The property is at 635 NW 22ND Rd in Fort Lauderdale, near Sunrise Boulevard and I-95. Walk Score is 73, Bike Score is 70, and Transit Score is 38.
Recorded improvements include a roof permitted in 2022, paved parking completed in 2019, and selected impact windows and doors installed in 2016. The property is at 635 NW 22ND Rd in Fort Lauderdale, near Sunrise Boulevard and I-95. Walk Score is 73, Bike Score is 70, and Transit Score is 38.
Key Highlights
- Four units: one 2‑bedroom/1‑bath apartment and three studio/efficiency‑style units
- All four units are vacant
- Separate living room and central A/C in the two‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,172
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,440
$603.4K
Cap Rate 7%
$431,029
$431.0K
Cap Rate 9%
$335,244
$335.2K
Market Conditions
NOI Build-Up for 1,810 SF
Gross rent
$45.6K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.1K $23.81/SF
− OpEx
−$12.9K −$7.14/SF
NOI
$30.2K $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 Rate 5%
$603,440
Cap Rate 7%
$431,029
Cap Rate 9%
$335,244
Alternative Uses
Best Use
Multifamily LT 5
$431.0K
$377.2K – $502.9K
NOI $30,172 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$388.3K
$339.8K – $453.0K
NOI $27,180 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,142 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
894
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The mix pairs a two-bedroom apartment with three efficiency units.
Where is this quadplex located?
The property is located at 635 NW 22ND Road Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Four units: one 2‑bedroom/1‑bath apartment and three studio/efficiency‑style units; All four units are vacant; Separate living room and central A/C in the two‑bedroom unit
