Updated Quadplex with Impact
For Sale
$1,500,000
7701 NW 56TH Avenue, Fort Lauderdale, FL 33073
Four-unit income property with renovated interiors, major building updates, and tenant occupancy in Broward County.
Property Size3,220 SF
Price / SF$465.84
Days on Market67
Property Features for 7701 NW 56TH Avenue
General Information
Standard status
Active
Size
3,220 SF
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1977
Listing Agency:
The Keyes Company
(954) 467-0105
Listed By:
Charles Leslie Waites · License #3087729
(954) 687-5160
Source:
Lehmannflorida
Added: Aug 26
Changed: Oct 31
Last Checked: Oct 30 at 5:02PM
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 The Keyes Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,220-square-foot quadplex, built in 1977, contains four tenant-occupied units with varied interior improvements. Unit 1 includes an updated kitchen and bath, new paint and millwork, a 2020 A/C system, and waterproof luxury vinyl flooring. Unit 2 has an updated kitchen, paint and millwork, a newer water heater, and ceramic flooring. Unit 3 features an updated kitchen and bath, 2020 A/C, newer water heater, paint and millwork, and ceramic flooring. Unit 4 includes an updated kitchen and bath, newer water heater, paint and millwork, and waterproof luxury vinyl flooring.
Property-wide improvements include a new roof, impact windows and doors, updated electrical panels, PVC pipes, fencing, pavers, and landscaping. The landlord pays water and electricity for Units 2 and 4, with electric usage billed to tenants through submetering. The property is located at 7701 NW 56TH Avenue, Fort Lauderdale, FL 33073, near shopping, dining, the Florida Turnpike, and Sawgrass Expressway. Showings require 24–48 hours’ notice.
Property-wide improvements include a new roof, impact windows and doors, updated electrical panels, PVC pipes, fencing, pavers, and landscaping. The landlord pays water and electricity for Units 2 and 4, with electric usage billed to tenants through submetering. The property is located at 7701 NW 56TH Avenue, Fort Lauderdale, FL 33073, near shopping, dining, the Florida Turnpike, and Sawgrass Expressway. Showings require 24–48 hours’ notice.
Key Highlights
- Four‑unit property totaling 3,220 SF
- New roof, impact windows and doors, updated electrical panels, and PVC pipes
- Unit 1 includes 2020 A/C and waterproof luxury vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,677
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,229
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit income property with renovated interiors, major building updates, and tenant occupancy in Broward County.
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 property totaling 3,220 SF; New roof, impact windows and doors, updated electrical panels, and PVC pipes; Unit 1 includes 2020 A/C and waterproof luxury vinyl flooring
