Renovated Duplex
646 NE 38th Street, Oakland Park, FL 33334
For Sale
$560,000
Tenant-occupied duplex on a sizable Oakland Park lot with a 2023 reroof.
Property Size1,711 SF
Lot Size0.30 Acres
Price / SF$327.29
Days on Market102
Property Features for 646 NE 38th Street
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Year Built
Tenancy
Listing Agency:
Evron & McCarthy Realty LLC
(754) 243-5838
Listed By:
Shou J Saito · License #3260191
(954) 850-9478
Source:
Lehmannflorida
Added: Jul 29
Changed: Nov 6
Last Checked: Nov 6 at 10:07AM
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 Evron & McCarthy Realty LLC
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Investment Insights
Based on property information with market context.
This tenant-occupied duplex in Oakland Park contains 1,711 square feet and was built in 1958. The property includes a 2/1.5 configuration, a studio, and a 2/1 configuration as described in the current setup. The roof was replaced in 2023.
Situated at 646 NE 38th Street, the property occupies a lot described as approximately 13,000 square feet. Existing occupancy and the current configuration provide a clear basis for evaluating the asset in its present condition. Showings require advance coordination because the property is tenant occupied.
Situated at 646 NE 38th Street, the property occupies a lot described as approximately 13,000 square feet. Existing occupancy and the current configuration provide a clear basis for evaluating the asset in its present condition. Showings require advance coordination because the property is tenant occupied.
Key Highlights
- 1,711‑square‑foot duplex in Oakland Park
- Approximately 13,000‑square‑foot lot
- Roof replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,522
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,440
$570.4K
Cap Rate 7%
$407,457
$407.5K
Cap Rate 9%
$316,911
$316.9K
Market Conditions
NOI Build-Up for 1,711 SF
Gross rent
$43.1K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.7K $23.81/SF
− OpEx
−$12.2K −$7.14/SF
NOI
$28.5K $16.67/SF
Area
Broward County, 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%
$570,440
Cap Rate 7%
$407,457
Cap Rate 9%
$316,911
Alternative Uses
Best Use
Multifamily LT 5
$407.5K
$356.5K – $475.4K
NOI $28,522 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$375.9K
$328.9K – $438.6K
NOI $26,314 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$868.1K
$759.6K – $1.01M
NOI $60,764 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,006
Businesses Nearby
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Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Oakland Park, FL
Properties on Market for Duplexes in Oakland Park
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex on a sizable Oakland Park lot with a 2023 reroof.
Where is this duplex located?
The property is located at 646 NE 38th Street Oakland Park, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 1,711‑square‑foot duplex in Oakland Park; Approximately 13,000‑square‑foot lot; Roof replaced in 2023
