Fully Occupied Fourplex with 1-Bed
For Sale
$990,000
916 SW 8th Ave 1-4, Fort Lauderdale, FL 33315
Four 1-bedroom, 1-bath units currently producing rent, with feasibility study for potential townhome conversion.
Property Size2,662 SF
Lot Size0.22 Acres
Price / SF$371.62
Days on Market54
Property Features for 916 SW 8th Ave 1-4
General Information
Standard status
Active
Size
2,662 SF
Lot size
0.22 Acres
Property subtype
Investment
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,616
Building Details
Building Size
2,662 SF
Year Built
1958
Stories
1
Units
4
Listing Agency:
EXP REALTY LLC
(954) 667-8487
Listed By:
Edward Gurovich · License #3367861
(954) 667-8487
Source:
Elliman
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 4:23AM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This fully occupied fourplex contains four 1-bedroom, 1-bath units within a 2,664 sq ft building, set on a large 9,687 sq ft lot. The property is being marketed as a current-income residential income asset, with each unit operating under its existing rental setup. The seller acquired the property as a 1031 exchange, and preliminary architectural due diligence includes a construction survey dated 3/2026 and a feasibility review that indicates potential for two townhomes, subject to design and City permits and approval.
Located in Fort Lauderdale’s Tarpon River area, the property is positioned minutes from Downtown Fort Lauderdale, Las Olas, beaches, and the Airport. Transit, walkability, and biking context are also available through provided scores, including a BikeScore of 67 and WalkScore of 58, with a TransitScore of 47.
For investors or buyers seeking stabilized, rent-producing housing, the four 1-bedroom units offer straightforward income generation and tenant appeal. For redevelopment-minded buyers, the preliminary feasibility work outlines a possible path toward converting the site to two townhomes, but the seller notes that buyers should independently verify with the City planning and zoning departments.
Located in Fort Lauderdale’s Tarpon River area, the property is positioned minutes from Downtown Fort Lauderdale, Las Olas, beaches, and the Airport. Transit, walkability, and biking context are also available through provided scores, including a BikeScore of 67 and WalkScore of 58, with a TransitScore of 47.
For investors or buyers seeking stabilized, rent-producing housing, the four 1-bedroom units offer straightforward income generation and tenant appeal. For redevelopment-minded buyers, the preliminary feasibility work outlines a possible path toward converting the site to two townhomes, but the seller notes that buyers should independently verify with the City planning and zoning departments.
Key Highlights
- Fully occupied fourplex with four 1‑bedroom, 1‑bath units currently producing rent.
- 2,664 sq ft building area on a 9,687 sq ft lot (Year built: 1958).
- Rent potential of $1,800–$2,000 per month per unit; gross rents of $7,200–$8,000 monthly.
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
$44,408
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
4.49%
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%
$888,160
$888.2K
Cap Rate 7%
$634,400
$634.4K
Cap Rate 9%
$493,422
$493.4K
Market Conditions
NOI Build-Up for 2,664 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
$67.1K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.4K $23.81/SF
− OpEx
−$19.0K −$7.14/SF
NOI
$44.4K $16.67/SF
Area
Fort Lauderdale, 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 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%
$888,160
Cap Rate 7%
$634,400
Cap Rate 9%
$493,422
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.1K
NOI $44,408 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$571.5K
$500.0K – $666.7K
NOI $40,003 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,315 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,945
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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?
Quadplex - Four 1-bedroom, 1-bath units currently producing rent, with feasibility study for potential townhome conversion.
Where is this quadplex located?
The property is located at 916 SW 8th Ave 1-4 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Fully occupied fourplex with four 1‑bedroom, 1‑bath units currently producing rent.; 2,664 sq ft building area on a 9,687 sq ft lot (Year built: 1958).; Rent potential of $1,800–$2,000 per month per unit; gross rents of $7,200–$8,000 monthly.
