3-Unit Triplex with Private
For Sale
$649,000
805 NE 40TH Street 1-3, Oakland Park, FL 33334
Two one-bedroom residences have individual laundry and backyard areas, with two parking spaces assigned to each.
Property Size1,590 SF
Price / SF$408.18
Days on Market39
Property Features for 805 NE 40TH Street 1-3
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Triplex
Units
Unit Mix
2 x 1BR/1BA, 1 x studio
Multifamily Units
3
Additional Details
Gross Income
$56,000
Taxes and HOA fees
Annual Taxes
$11,287
Building Details
Building Size
1,590 SF
Year Built
1959
Listing Agency:
Grandiose Real Estate LLC
Listed By:
Brian J McCarthy · License #3213610
(954) 258-1435
Source:
Dietzelber
Added: Sep 23
Changed: Oct 27
Last Checked: Oct 27 at 3:24AM
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 Grandiose Real Estate LLC
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Investment Insights
Based on property information with market context.
This 1,590-square-foot triplex contains three separate residences: two one-bedroom, one-bathroom units and a studio. The one-bedroom units each have laundry facilities, a backyard area, and two parking spaces. Hurricane windows and shutters are installed, and the property has newer air-conditioning equipment and plumbing. Built in 1959, the building has a non-conforming triplex configuration.
The property is in Oakland Park, within walking distance of downtown and near Fort Lauderdale Beach.
The property is in Oakland Park, within walking distance of downtown and near Fort Lauderdale Beach.
Key Highlights
- Three residences: two 1/1 units and one studio
- 1,590 square feet of finished living area
- Each 1/1 includes laundry, a backyard, and 2 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,505
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,100
$530.1K
Cap Rate 7%
$378,643
$378.6K
Cap Rate 9%
$294,500
$294.5K
Market Conditions
NOI Build-Up for 1,590 SF
Gross rent
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.5K $16.67/SF
Area
Broward County, 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%
$530,100
Cap Rate 7%
$378,643
Cap Rate 9%
$294,500
Alternative Uses
Best Use
Multifamily LT 5
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
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Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Two one-bedroom residences have individual laundry and backyard areas, with two parking spaces assigned to each.
Where is this triplex located?
The property is located at 805 NE 40TH Street 1-3 Oakland Park, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three residences: two 1/1 units and one studio; 1,590 square feet of finished living area; Each 1/1 includes laundry, a backyard, and 2 parking spaces
