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1132 NW 2nd St 10 Unit Apartment Building $880,000 ($88,000/Unit) 8.91% Cap Rate Fort Lauderdale, FL 33311
INVESTMENT HIGHLIGHTS
- Well maintained 4plex with all 2 Bedroom/1 Bath Units!
- Minutes from Downtown Fort Lauderdale and the beach!
- Can be close to a 9% cap rate opportunity after simply raising rents to market value!
- Individual water and electric meters for all units, therefore reducing owner expenses!
EXECUTIVE SUMMARY
Investor's dream in Fort Lauderdale! This well-maintained 4-unit multifamily property features four spacious 2-bedroom, 1-bath apartments, each with separate electric and water meters, so tenants pay all utilities and the landlord enjoys low operating expenses. Units offer bright living areas and functional layouts. Ideally located minutes from Downtown Fort Lauderdale, Las Olas, Brightline, major highways, and just a short drive to Fort Lauderdale Beach, this property sits in a rapidly improving area with strong rental demand. Perfect for buy-and-hold and cash-flow investors. Don't miss this opportunity!
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$93,600
|
$30.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$93,600
|
$30.14
|
| Taxes |
$11,170
|
$3.60
|
| Operating Expenses |
$4,000
|
$1.29
|
| Total Expenses |
$15,170
|
$4.88
|
| Net Operating Income |
$78,430
|
$25.25
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $93,600 |
| Annual Per SF | $30.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $93,600 |
| Annual Per SF | $30.14 |
| Taxes | |
|---|---|
| Annual | $11,170 |
| Annual Per SF | $3.60 |
| Operating Expenses | |
|---|---|
| Annual | $4,000 |
| Annual Per SF | $1.29 |
| Total Expenses | |
|---|---|
| Annual | $15,170 |
| Annual Per SF | $4.88 |
| Net Operating Income | |
|---|---|
| Annual | $78,430 |
| Annual Per SF | $25.25 |
PROPERTY FACTS
| Price | $880,000 | Building Class | C |
| Price Per Unit | $88,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,106 SF |
| Cap Rate | 8.91% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RMM-25 - RMM-25 - RESIDENTIAL MULTIFAMILY MID RISE/MEDIUM HIGH DENSITY | ||
| Price | $880,000 |
| Price Per Unit | $88,000 |
| Sale Type | Investment |
| Cap Rate | 8.91% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,106 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1961 |
| Opportunity Zone |
Yes |
| Zoning | RMM-25 - RMM-25 - RESIDENTIAL MULTIFAMILY MID RISE/MEDIUM HIGH DENSITY |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | $1,950 | - |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 50-42-04-01-0301 | Total Assessment | $411,580 |
| Land Assessment | $0 | Annual Taxes | $11,170 ($3.60/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
50-42-04-01-0301
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$411,580
Annual Taxes
$11,170 ($3.60/SF)
Tax Year
2025
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1132 NW 2nd St
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