5-Unit Multifamily with Impact
For Sale
$999,900
812 NE 15 Avenue, Fort Lauderdale, FL 33304
MULTI_FAMILY - Fort Lauderdale, FL
Property Size2,547 SF
Lot Size0.15 Acres
Price / SF$392.58
Days on Market179
Property Features for 812 NE 15 Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 1
Patio and Porch features
Patio
Fencing
Fenced
Subdivision
Victoria Park
Directions
Sunrise Blvd west to NE 15 Ave south to property on east side.
Standard status
Active
APN
494234060710
Size
2,547 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Progresso 2-18 D Lot 15 Blk 42
Tax Annual Amount
19289
Legal Description
Progresso 2-18 D Lot 15 Blk 42
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
patios
washer & dryer
impact windows
Building Details
Year built
1971
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
CBS
Roof type
Shingle, Composition
Additional Structures
Outbuilding
Listing Agency:
Campbell&Rosemurgy Real Estate
(954) 427-8686
Listed By:
Patricia A Karlin · License #0497372
(954) 675-2003
Added: Feb 9
Changed: Aug 5
Last Checked: Aug 7 at 2:06AM
MLS# F10550284
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 5-unit multifamily property in Victoria Park consists of two buildings on a 50x135 lot (6,750 SF). The west building contains a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. The east building contains two large efficiencies and a studio (currently vacant) with a kitchenette and a bathroom with a shower. Several patios are provided, and there is a washer and dryer on the premises. All units have impact windows.
The units are separately metered with 5 electric meters. Leases end 12/31/26. Construction materials are CBS, with tile flooring. Cooling includes wall/window unit(s) and window unit(s). The roof is described as composition and shingle. The property is fenced, and utilities include cable available. Water source is public, and sewer is public sewer. Year built is 1971.
A survey is attached, supporting the 50x135 lot configuration.
The units are separately metered with 5 electric meters. Leases end 12/31/26. Construction materials are CBS, with tile flooring. Cooling includes wall/window unit(s) and window unit(s). The roof is described as composition and shingle. The property is fenced, and utilities include cable available. Water source is public, and sewer is public sewer. Year built is 1971.
A survey is attached, supporting the 50x135 lot configuration.
Key Highlights
- Two‑building 5‑unit layout on a 50x135 lot (6,750 SF)
- West building: two‑bedroom/one‑bath and one‑bedroom/one‑bath
- East building: two large efficiencies plus a vacant studio with kitchenette and shower bath
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
$38,247
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
3.83%
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%
$764,940
$764.9K
Cap Rate 7%
$546,386
$546.4K
Cap Rate 9%
$424,967
$425.0K
Market Conditions
NOI Build-Up for 2,547 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
$73.4K $28.80/SF
− Vacancy
−$3.8K −$1.50/SF
EGI
$69.5K $27.30/SF
− OpEx
−$31.3K −$12.29/SF
NOI
$38.2K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$764,940
Cap Rate 7%
$546,386
Cap Rate 9%
$424,967
Alternative Uses
Best Use
Apartment 5plus
$546.4K
$478.1K – $637.5K
NOI $38,247 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,811 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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?
Apartment building - Two-building 5-unit property with patios, shared washer and dryer, and impact windows on a fenced lot.
Where is this apartment building located?
The property is located at 812 NE 15 Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two‑building 5‑unit layout on a 50x135 lot (6,750 SF); West building: two‑bedroom/one‑bath and one‑bedroom/one‑bath; East building: two large efficiencies plus a vacant studio with kitchenette and shower bath
