Turnkey Income-Producing
650 NE 15TH ST Fort Lauderdale, FL 33304
For Sale
Contact for pricing
Turnkey duplex with two bedrooms and two full baths per side and four off-street parking spaces.
Property Size1,625 SF
Price / SF$565.54
Days on Market121
Property Features for 650 NE 15TH ST
General Information
- Standard status
- Active
- Size
- 1,625 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1990
Listing Agency:
My Realty Group, LLC.
(786) 847-7421
Listed By:
Mileivys Ramirez · License #3395052
Source:
Crexi
Added: Mar 26
Changed: Jul 23
Last Checked: Jul 23 at 1:37PM
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 My Realty Group, LLC.
Investment Insights
Based on property information with market context.
This turnkey duplex is designed for income production and has recent exterior and interior updates. The property features impact windows and doors, along with a new roof and gutters completed in 2022. Landscaping and artificial turf were added in 2022, and new fencing followed in 2023. Interior improvements include new countertops and fresh paint in 2023, and the property was tented for termites in 2022. Each side offers two bedrooms and two full bathrooms, and there are four off-street parking spaces.
The duplex is located in Fort Lauderdale, just south of Wilton Manors, near Fort Lauderdale High School, and about 3 miles from the beach. The property is currently operating with a vacation rental license.
With two self-contained units configured as two-bedroom, two-bath layouts on each side, this duplex provides a straightforward arrangement for an owner-operator or an investor looking for a turnkey residential income property.
The duplex is located in Fort Lauderdale, just south of Wilton Manors, near Fort Lauderdale High School, and about 3 miles from the beach. The property is currently operating with a vacation rental license.
With two self-contained units configured as two-bedroom, two-bath layouts on each side, this duplex provides a straightforward arrangement for an owner-operator or an investor looking for a turnkey residential income property.
Key Highlights
- Turnkey duplex (built 1990) with 2 bedrooms and 2 full bathrooms on each side
- Vacation rental license currently operating
- New roof, gutters, impact windows and doors completed in 2022
Financial Insights For Multifamily LT 5
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 | $41.0k | $25.20 |
| − Vacancy | −$2.3k | −$1.39 |
| EGI | $38.7k | $23.81 |
| − OpEx | −$11.6k | −$7.14 |
| NOI | $27.1k | $16.67 |
1,625 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$387.0K
$338.6K – $451.5K
NOI $27,088 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$348.6K
$305.0K – $406.7K
NOI $24,402 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.09M
$955.5K – $1.27M
NOI $76,440 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Acosta Accounting & Tax ...
Accounting Firm
FAQs
What type of property is this?
Duplex - Turnkey duplex with two bedrooms and two full baths per side and four off-street parking spaces.
Where is this duplex located?
The property is located at 650 NE 15TH ST Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: Turnkey duplex (built 1990) with 2 bedrooms and 2 full bathrooms on each side; Vacation rental license currently operating; New roof, gutters, impact windows and doors completed in 2022
