Packaged Duplex Investment
923 W Las Olas Boulevard Unit 1-2 Fort Lauderdale, FL 33312
New
For Sale
$1,485,000
Two duplex multifamily properties are offered together with fully entitled redevelopment plans for future renovation or expansion.
Property Size3,212 SF
Price / SF$462.33
Days on Market7
Property Features for 923 W Las Olas Boulevard Unit 1-2
General Information
Standard status
Active
Size
3,212 SF
Property subtype
Duplex
Building Details
Year Built
1972
Listing Agency:
Compass Florida LLC
(610) 295-9127
Listed By:
Dominic Posocco · License #3176578
(610) 295-9127
Source:
Lehmannflorida
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 28 at 4:30AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This offering presents two duplexes packaged together as one investment, located at 923 and 925 W Las Olas Boulevard. The properties provide in-place rental income and are positioned for redevelopment, with the parcels described as fully entitled and approved, including a full set of development plans.
Situated directly on Las Olas Boulevard in Fort Lauderdale’s downtown area, the location is noted in the remarks as within Sailboat Bend, an area described as poised for growth. The listing highlights the combination of current cash flow and redevelopment optionality associated with the approved plans.
For buyers seeking a long-term hold, the opportunity also supports a value-add approach through renovation, or pursuing the redevelopment path reflected in the submitted and approved plan set.
Situated directly on Las Olas Boulevard in Fort Lauderdale’s downtown area, the location is noted in the remarks as within Sailboat Bend, an area described as poised for growth. The listing highlights the combination of current cash flow and redevelopment optionality associated with the approved plans.
For buyers seeking a long-term hold, the opportunity also supports a value-add approach through renovation, or pursuing the redevelopment path reflected in the submitted and approved plan set.
Key Highlights
- Two duplex multifamily properties offered together: 923 and 925 W Las Olas Blvd
- Year built: 1972
- Fully entitled and approved redevelopment plans included for renovation or expansion
Financial Insights For Multifamily LT 5
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 | $80.9k | $25.20 |
| − Vacancy | −$4.5k | −$1.39 |
| EGI | $76.5k | $23.81 |
| − OpEx | −$22.9k | −$7.14 |
| NOI | $53.5k | $16.67 |
3,212 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$764.9K
$669.3K – $892.4K
NOI $53,543 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$689.0K
$602.9K – $803.9K
NOI $48,232 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,092 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two duplex multifamily properties are offered together with fully entitled redevelopment plans for future renovation or expansion.
Where is this duplex located?
The property is located at 923 W Las Olas Boulevard Unit 1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Two duplex multifamily properties offered together: 923 and 925 W Las Olas Blvd; Year built: 1972; Fully entitled and approved redevelopment plans included for renovation or expansion
