Updated Four-Unit
New
For Sale
$1,500,000
7701 NW 56TH Avenue, Fort Lauderdale, FL 33073
Residential Income, Fort Lauderdale, FL
Property Size3,220 SF
Lot Size0.20 Acres
Price / SF$465.84
Days on Market6
Property Features for 7701 NW 56TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-10
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 3
Pets allowed
No, Yes
Fencing
Privacy, Fenced
Subdivision
HILLSBORO PINES SEC
Elementary school
Tradewinds
Middle school
Lyons Creek
High school
Monarch
Directions
From S: Hillsboro to 441 N R on 76th Pl 76th place turns into 56 Way and into 77th Ct. Make 1st R on 56th Ave. Bldg 3rd on the R. From N: Palmetto or 18th St to 441 S,R on 76th Pl into 56 Way & into 77th Ct. Make 1st R on 56th Ave. Bldg 3rd on the R
Standard status
Active
APN
474231020140
Size
3,220 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLSBORO PINES SEC A 42-22 B LOT 15 BLK 3
Tax Annual Amount
13296
Legal Description
HILLSBORO PINES SEC A 42-22 B LOT 15 BLK 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1977
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic, Vinyl
Building materials
CBS
Roof type
Composition, Shingle
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Charles Leslie Waites · License #3087729
(954) 687-5160
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 1:06AM
MLS# B26068790
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit quadplex contains 3,220 square feet on a 0.2-acre site and was built in 1977. The units include a mix of updated kitchens, bathrooms, paint, millwork, ceramic flooring, waterproof luxury vinyl, newer water heaters, and 2020 A/C systems. The building is constructed with CBS materials and includes central heating and cooling.
Property-wide improvements include a new composition shingle roof, impact windows and doors, updated electrical panels, PVC piping, fencing, pavers, and landscaping. The property is tenant occupied, with 24–48 hours' notice required for access. RM-10 zoning, public water, and public sewer are in place. The landlord pays water and electricity for Units 2 and 4, with electric submetering used for tenant billing.
Property-wide improvements include a new composition shingle roof, impact windows and doors, updated electrical panels, PVC piping, fencing, pavers, and landscaping. The property is tenant occupied, with 24–48 hours' notice required for access. RM-10 zoning, public water, and public sewer are in place. The landlord pays water and electricity for Units 2 and 4, with electric submetering used for tenant billing.
Key Highlights
- Four‑unit quadplex with 3,220 square feet on a 0.2‑acre site
- RM‑10 zoning with public water and public sewer
- New roof, impact windows and doors, updated electrical panels, and PVC piping
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,677
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,073,540
$1.1M
Cap Rate 7%
$766,814
$766.8K
Cap Rate 9%
$596,411
$596.4K
Market Conditions
NOI Build-Up for 3,220 SF
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.
Gross rent
$81.1K $25.20/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$76.7K $23.81/SF
− OpEx
−$23.0K −$7.14/SF
NOI
$53.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,073,540
Cap Rate 7%
$766,814
Cap Rate 9%
$596,411
Alternative Uses
Best Use
Multifamily LT 5
$766.8K
$671.0K – $894.6K
NOI $53,677 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$690.8K
$604.4K – $805.9K
NOI $48,353 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,469 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 33073, FL
32,853
Population
12,708
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
4,056
Density / Sq Mi
$99,269
Median Household Income
$50,754
Median Earnings
$2,193
Median Rent
$453,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-occupied residential income property with refreshed interiors, major building improvements, and public water and sewer.
Where is this quadplex located?
The property is located at 7701 NW 56TH Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,220 square feet on a 0.2‑acre site; RM‑10 zoning with public water and public sewer; New roof, impact windows and doors, updated electrical panels, and PVC piping
