New Construction 4-Plex with Impact
661 NW 21st Terrace Fort Lauderdale, FL 33311
For Sale
Contact for pricing
Brand-new 2025 fourplex with central A/C, impact glass, dedicated parking for up to seven vehicles, and a large backyard.
Property Size2,286 SF
Price / SF$349.52
Days on Market258
Property Features for 661 NW 21st Terrace
General Information
Standard status
Active
Size
2,286 SF
Property subtype
Multifamily
Building Details
Year Built
2025
Listing Agency:
Flagler Duval
(954) 801-0123
Listed By:
Dylan Varner · License #3507778
Source:
Crexi
Added: Nov 11, 2025
Changed: Jul 10
Last Checked: Jul 22 at 4:00AM
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 Flagler Duval
Investment Insights
Based on property information with market context.
This brand-new 2025 construction fourplex was built with prefabricated concrete construction and impact glass windows, with design intended to align with FEMA’s latest elevation guidelines. The property is hurricane-resistant and includes central A/C in each unit, along with new appliances and a new roof. The layout provides four separate residential units, plus outdoor space in the form of a large backyard.
The asset is offered for sale at 661 NW 21st Terrace in Fort Lauderdale, Florida. A spacious parking area accommodates up to seven vehicles, supporting straightforward tenant and guest parking for a small multifamily building.
For buyers seeking a turnkey residential income property, the current improvements include central cooling, new interior appliance packages, and a roof completed as part of the 2025 build. The outdoor areas can support tenant-oriented use, including shared recreation or separate outdoor living space tied to the property. The seller notes that one of the 1-bedroom units could be converted into a 2-bedroom, offering a possible way to reconfigure unit mix if desired by an operator or investor.
The asset is offered for sale at 661 NW 21st Terrace in Fort Lauderdale, Florida. A spacious parking area accommodates up to seven vehicles, supporting straightforward tenant and guest parking for a small multifamily building.
For buyers seeking a turnkey residential income property, the current improvements include central cooling, new interior appliance packages, and a roof completed as part of the 2025 build. The outdoor areas can support tenant-oriented use, including shared recreation or separate outdoor living space tied to the property. The seller notes that one of the 1-bedroom units could be converted into a 2-bedroom, offering a possible way to reconfigure unit mix if desired by an operator or investor.
Key Highlights
- Brand‑new 2025 fourplex construction in Fort Lauderdale
- Impact glass windows and hurricane‑resistant design with prefabricated concrete construction
- Built above FEMA’s latest elevation guidelines
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 | $57.6k | $25.20 |
| − Vacancy | −$3.2k | −$1.39 |
| EGI | $54.4k | $23.81 |
| − OpEx | −$16.3k | −$7.14 |
| NOI | $38.1k | $16.67 |
2,286 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$544.4K
$476.3K – $635.1K
NOI $38,107 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$490.4K
$429.1K – $572.1K
NOI $34,327 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,533 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Brand-new 2025 fourplex with central A/C, impact glass, dedicated parking for up to seven vehicles, and a large backyard.
Where is this quadplex located?
The property is located at 661 NW 21st Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Brand‑new 2025 fourplex construction in Fort Lauderdale; Impact glass windows and hurricane‑resistant design with prefabricated concrete construction; Built above FEMA’s latest elevation guidelines
