Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5951 18Th Ave Fort Lauderdale, FL 33334

    • Apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 5951 18Th Ave

    Year built
    1963
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional three-unit apartment building, situated in the desirable Coral Ridge Isles neighborhood of Fort Lauderdale, Florida, presents a compelling investment opportunity. Built in 1963, this single-story triplex boasts three individual units, each featuring its own private backyard, in-unit washer and dryer, and a separate main entrance. Two units are currently occupied by long-term tenants, providing immediate and stable rental income, while a third unit has recently been leased. Each unit also benefits from individual circuit panels, ensuring efficient utility management. Ample parking is available with six spaces provided for tenant convenience. The property's roof was replaced in 2020, demonstrating proactive maintenance and reducing potential future expenses. Its prime location offers easy access to pristine beaches, a vibrant array of shopping and dining options, and major highways, making it highly attractive to renters. This well-maintained property, with its strong rental history and desirable location, represents a solid addition to any investment portfolio seeking consistent cash flow in a thriving rental market. The asking price for this turnkey investment is $850,000. The property is located at 5951 NE 18th Ave, Fort Lauderdale, FL 33334, in Broward County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1233
    Latitude
    26.2028

    Comparable in this City

    • Value Estimation by Request

      1099 35Th St

      Multifamily properties
      1099 35Th St, Oakland Park, FL 33334
      View Details
    • Value Estimation by Request

      901 40Th St

      Multifamily properties
      901 40Th St, Oakland Park, FL 33334
      View Details
    • Value Estimation by Request

      1761 55Th St

      Multifamily properties
      1761 55Th St, Fort Lauderdale, FL 33334
      View Details
    • Value Estimation by Request

      5130-5132 17Th Ter

      Multifamily properties
      5130-5132 17Th Ter, Fort Lauderdale, FL 33334
      View Details
    • Value Estimation by Request

      901 40Th St

      Multifamily properties
      901 40Th St, Oakland Park, FL 33334
      View Details
    • Value Estimation by Request

      5910-5912 17Th Rd

      Multifamily properties
      5910-5912 17Th Rd, Fort Lauderdale, FL 33334
      View Details

    Similar Nearby for Sale

    • $9,900,000
      1.30 Acres

      Oakland Park Mixed-Use Investment

      Prime Broward County location, high traffic, flexible zoning.
      1299 Oakland Park Blvd, Oakland Park, FL 33334
      View Details
    • $1,700,000

      Oakland Park Multifamily Investment Property

      Seven-unit building in Oakland Park, generating $17,600 monthly.
      86 NE 36Th Ct, Fort Lauderdale, FL 33334
      View Details
    • $1,185,000
      Pending

      Waterfront Multifamily Investment Opportunity

      Oakland Park 5-unit multifamily property with $120K gross annual income.
      1310 NE 30Th St, Oakland Park, FL 33334
      View Details
    • $749,999

      Updated Duplex in Oakland Park

      Turnkey duplex with modern updates, ideal for investors or owners.
      260 NE 41St St, Fort Lauderdale, FL 33334
      View Details
    • $1,750,000
      2,215 SF

      Waterfront Duplex in Wilton Manors

      Luxury duplex with redevelopment potential in prime location.
      50 NE 30 Ct, Fort Lauderdale, FL 33334
      View Details
    • $949,900

      Oakland Park Duplex with Pool

      Turnkey duplex in Oakland Park's Culinary & Arts District.
      1680 NE 34Th Ln, Oakland Park, FL 33334
      View Details

    Similar Nearby for Lease

    • $2,050 /Mo

      Spacious Two Bedroom Apartment

      Comfortable 2-bed, 1-bath apartment with modern amenities.
      3640 NE 1St Ave, Oakland Park, FL 33334
      View Details
    • $1,500 /Mo

      Apartment with Private Backyard

      One-bedroom apartment with large deck and private backyard.
      1425 NE 56Th St, Fort Lauderdale, FL 33334
      View Details
    • $1,850 /Mo

      Oakland Park Apartment For Rent

      Apartment for rent in Oakland Park with parking and W/D.
      3661 NE 11Th Ave, Oakland Park, FL 33334
      View Details
    • $1,500 /Mo

      Oakland Park Condo For Rent

      Cozy 1 bed, 1 bath condo near the beach.
      5174 NE 6Th Ave, Oakland Park, FL 33334
      View Details
    • $2,200 /Mo

      Remodeled Unit Near Wilton Drive

      Remodeled 2/1 unit with patio near Wilton Drive.
      820 NE 28Th St, Fort Lauderdale, FL 33334
      View Details
    • $2,300 /Mo

      Spacious Duplex Near Downtown

      Well-maintained duplex with modern amenities and convenient location.
      1658 NE 34Th St, Fort Lauderdale, FL 33334
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5951 18Th Ave
    Fort Lauderdale, FL 33334
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.