Furnished Fort Lauderdale Multifamily
For Sale
Contact for pricing
505 SE 20th St, Fort Lauderdale, FL 33316
Six fully furnished units near beaches and airport.
Property Size3,035 SF
Price / SF$490.94
Days on Market779
Property Features for 505 SE 20th St
General Information
Standard status
Active
Size
3,035 SF
Property subtype
Multifamily
Zoning
RO
Building Details
Year Built
1958
Listing Agency:
Coldwell Banker Realty
(786) 333-3727
Listed By:
Attila Yildiz · License #3276282
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:04AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This multifamily complex is located in Fort Lauderdale and features six fully furnished units. The unit mix includes two 2-bedroom/1-bath units, two 1-bedroom/1-bath units, and two studios. All units are equipped with kitchens and closet space. The property includes 10 parking spots and on-site laundry facilities. The units feature wood and tile floors. The location provides access to Port Everglades, Fort Lauderdale-Hollywood International Airport, major roadways, shopping, dining, public parks, and public transportation. The property has been used for Airbnb management and has a yearly revenue of $160,000 with 86% occupancy. The property size is 3,035 square feet.
Key Highlights
- High income potential: Proven Airbnb revenue of $160k per year with 86% occupancy.
- Includes 6 fully furnished units, ready for immediate rental or occupancy.
- Multi‑unit complex features a mix of unit types (2Bed/1Bath, 1Bed/1Bath, and Studios).
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
$45,575
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
3.06%
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%
$911,500
$911.5K
Cap Rate 7%
$651,071
$651.1K
Cap Rate 9%
$506,389
$506.4K
Market Conditions
NOI Build-Up for 3,035 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
$87.4K $28.80/SF
− Vacancy
−$4.5K −$1.50/SF
EGI
$82.9K $27.30/SF
− OpEx
−$37.3K −$12.29/SF
NOI
$45.6K $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%
$911,500
Cap Rate 7%
$651,071
Cap Rate 9%
$506,389
Alternative Uses
Best Use
Apartment 5plus
$651.1K
$569.7K – $759.6K
NOI $45,575 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,766 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six fully furnished units near beaches and airport.
Where is this apartment building located?
The property is located at 505 SE 20th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: High income potential: Proven Airbnb revenue of $160k per year with 86% occupancy.; Includes 6 fully furnished units, ready for immediate rental or occupancy.; Multi‑unit complex features a mix of unit types (2Bed/1Bath, 1Bed/1Bath, and Studios).
