Five-Unit Multifamily
848 NW 2nd Ave Fort Lauderdale, FL 33311
848 NW 2nd Ave, Fort Lauderdale, FL, 33311
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For Sale
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Fully occupied five-unit building with separate electric meters, featuring three 1-bed/1-bath units and two studios.
Property Size1,936 SF
Price / SF$503.62
Days on Market354
Property Features for 848 NW 2nd Ave
General Information
- Standard status
- Active
- Size
- 1,936 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agency
Fausto Commercial
(954) 743-7594
Listed by
Elior Levi · License #3574869
Source
Crexi
Added: Aug 4, 2025 Updated: Jul 20 at 10:37PM Checked: Jul 23 at 5:11AM
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 Fausto Commercial
Investment Insights
Based on property information with market context.
This five-unit multifamily property is fully occupied and currently cash flowing, with most long-term tenants in place for more than five years. The mix includes three 1-bedroom/1-bath units and two studio units. Interiors have been lightly updated, and the building is supported by separate electric meters for each unit, helping keep day-to-day operations low maintenance.
Located in Progresso Village in Fort Lauderdale, the property is described as minutes from Flagler Village, the Brightline station, and the beach. The property is zoned RMM-25, with redevelopment potential noted for one of Fort Lauderdale’s faster-growing corridors.
Current monthly income is stated at $8,200, with room identified for additional upside through future rent increases or improvements. The listing also highlights an attractive 8.13% cap rate and offers seller financing at 5.5% interest-only for 3 years with 35% down.
Located in Progresso Village in Fort Lauderdale, the property is described as minutes from Flagler Village, the Brightline station, and the beach. The property is zoned RMM-25, with redevelopment potential noted for one of Fort Lauderdale’s faster-growing corridors.
Current monthly income is stated at $8,200, with room identified for additional upside through future rent increases or improvements. The listing also highlights an attractive 8.13% cap rate and offers seller financing at 5.5% interest-only for 3 years with 35% down.
Key Highlights
- Fully occupied 5‑unit multifamily built in 1972, with three 1 bed/1 bath units and two studios
- All units rented to long‑term tenants, with most leases over 5 years
- Separate electric meters and low‑maintenance operations
Local Financial Insights For Apartment 5plus
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 | $55.8k | $28.80 |
| − Vacancy | −$2.9k | −$1.50 |
| EGI | $52.9k | $27.30 |
| − OpEx | −$23.8k | −$12.29 |
| NOI | $29.1k | $15.02 |
1,936 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$415.3K
$363.4K – $484.5K
NOI $29,072 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,069 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully occupied five-unit building with separate electric meters, featuring three 1-bed/1-bath units and two studios.
Where is this apartment building located?
The property is located at 848 NW 2nd Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Fully occupied 5‑unit multifamily built in 1972, with three 1 bed/1 bath units and two studios; All units rented to long‑term tenants, with most leases over 5 years; Separate electric meters and low‑maintenance operations
