Turnkey Duplex Income
650 Northeast 15th Street Fort Lauderdale, FL 33304
650 Northeast 15th Street, Fort Lauderdale, FL, 33304
$919,000
For Sale
$919,000
Turnkey duplex with two bedrooms and two full bathrooms per side, plus four off-street parking spaces.
Property Size1,625 SF
Price / SF$565.54
Days on Market120
Property Features for 650 Northeast 15th Street
General Information
- Standard status
- Active
- Size
- 1,625 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1990
Listing agency
My Realty Group, LLC.
(786) 847-7421
Listed by
Mileivys Ramirez · License #3395052
(786) 847-7421
Source
Compass
Added: Mar 26 Updated: Jul 22 at 11:57PM Checked: Jul 22 at 11:57PM
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 income-producing duplex is built for immediate occupancy with a renovation package completed between 2022 and 2023. Exterior improvements include a new roof, gutters, impact windows and doors, artificial turf and landscaping, and new fencing. Additional 2022 work included termite tenting. Interior updates include new countertops and fresh paint. Each side features two bedrooms and two full bathrooms, and the property includes four off-street parking spaces.
The duplex is located in Fort Lauderdale, just south of Wilton Manors, near Fort Lauderdale High School, and approximately 3 miles from the beach. The property is currently operating with a vacation rental license.
With two symmetrical residential units, the layout supports straightforward duplex ownership while maintaining a consistent unit configuration across both sides.
The duplex is located in Fort Lauderdale, just south of Wilton Manors, near Fort Lauderdale High School, and approximately 3 miles from the beach. The property is currently operating with a vacation rental license.
With two symmetrical residential units, the layout supports straightforward duplex ownership while maintaining a consistent unit configuration across both sides.
Key Highlights
- Turnkey income‑producing duplex built in 1990 with 2 bedrooms and 2 full bathrooms on each side
- Vacation rental license in place
- Upgrades completed: 2022 new roof and gutters, impact windows/doors, artificial turf and landscaping, plus hot tub
Local 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
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FAQs
What type of property is this?
Duplex - Turnkey duplex with two bedrooms and two full bathrooms per side, plus four off-street parking spaces.
Where is this duplex located?
The property is located at 650 Northeast 15th Street 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 income‑producing duplex built in 1990 with 2 bedrooms and 2 full bathrooms on each side; Vacation rental license in place; Upgrades completed: 2022 new roof and gutters, impact windows/doors, artificial turf and landscaping, plus hot tub
