18-Unit Apartment Building with
901 NE 16TH Avenue, Fort Lauderdale, FL 33304
For Sale
New
$3,950,000
A landscaped courtyard and varied apartment mix complement the two-story residential property.
Property Size7,772 SF
Price / SF$508.23
Days on Market4
Property Features for 901 NE 16TH Avenue
General Information
Standard status
Size
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
landscaped courtyard
pool
0.31 acres, 1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre
Comp Shingle Roof, Shingle
At Site, Public Sewer, Public Sanitation, Sewer
Parcel Number: 494234058000, Annual Amount: $63,998, Legal Description: PROGRESSO 2-18 D LOT 11,12 BLK 227, Year: 2026, Zoning: RMM-25
Tile
Gross ScheduledIncome: $181,000
Wall/Window Unit(s)
Window/Wall
Listing ID: B26099709, Standard Status: Active, MLS Status: Active, Property Subtype: Multi Family, On market as of 2026-11-12, Special Conditions: Sale
18 total parking spaces, Assigned, On Street
Built in 1968, Living area: 7772, Living area units: Square Feet, 1 building, 2 stories, Construction Materials: CBS Construction, Plaster
County/Parish: Broward County
Leasable area units: Square Feet
18 units in community
Cable Connected, Electricity Connected, Sewer Connected, Water Connected, Cable Available, Electricity Available, Sewer Available, Water Available, Water Source: Public, 110 Volts Power, 220 Volts, 220 Volt
Other Fire Protection
Building Details
Year Built
Stories
Listing Agency:
RISE Realty
Listed By:
Keith Alan Darby · License FL #3085829
(305) 720-7925
Source:
Riserealty
Added: Nov 12
Changed: Nov 14
Last Checked: Nov 14 at 2:15PM
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 RISE Realty
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Investment Insights
Based on property information with market context.
This two-story apartment property contains 18 units across a 7,772-square-foot building. The mix includes 7 studios, 10 one-bedroom apartments and 1 two-bedroom apartment. A swimming pool and landscaped courtyard provide shared outdoor amenities. The building dates to 1968.
Located at 901 NE 16th Avenue in Fort Lauderdale, the property is minutes from Las Olas Boulevard, Downtown, Holiday Park and the beaches. The reported rent roll is $29,095 per month, with annual rent of $349,140. Seller-reported NOI is approximately $217,494, and the stated cap rate is 5.5%.
Located at 901 NE 16th Avenue in Fort Lauderdale, the property is minutes from Las Olas Boulevard, Downtown, Holiday Park and the beaches. The reported rent roll is $29,095 per month, with annual rent of $349,140. Seller-reported NOI is approximately $217,494, and the stated cap rate is 5.5%.
Key Highlights
- 18 apartments: 7 studios, 10 one‑bedroom units and 1 two‑bedroom unit
- 7,772‑square‑foot, two‑story building constructed in 1968
- Swimming pool and landscaped courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,707
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,334,140
$2.3M
Cap Rate 7%
$1,667,243
$1.7M
Cap Rate 9%
$1,296,744
$1.3M
Market Conditions
NOI Build-Up for 7,772 SF
Gross rent
$223.8K $28.80/SF
− Vacancy
−$11.6K −$1.50/SF
EGI
$212.2K $27.30/SF
− OpEx
−$95.5K −$12.29/SF
NOI
$116.7K $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 Rate 5%
$2,334,140
Cap Rate 7%
$1,667,243
Cap Rate 9%
$1,296,744
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $116,707 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,595 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
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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
$556,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Fort Lauderdale, FL
Properties on Market for Apartment buildings in Fort Lauderdale
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A landscaped courtyard and varied apartment mix complement the two-story residential property.
Where is this apartment building located?
The property is located at 901 NE 16TH Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 18 apartments: 7 studios, 10 one‑bedroom units and 1 two‑bedroom unit; 7,772‑square‑foot, two‑story building constructed in 1968; Swimming pool and landscaped courtyard
