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Lauderdale Manors Fourplex 1471 NW 22nd St 4 Unit Apartment Building $865,000 ($216,250/Unit) 7.60% Cap Rate Fort Lauderdale, FL 33311
Investment Highlights
- Priced to Sell | Strong Cash Flow: Well-maintained fourplex offered at a 7.6% cap rate at asking price.
- Major Capital Updates: PVC plumbing, updated electrical panels, central A/C, and newer shingle roof (2021).
- Prime Fort Lauderdale Location: Minutes to I-95, Downtown Fort Lauderdale, FLL Airport, and Fort Lauderdale Beach.
- Desirable Unit Mix: Two 2BD/1BA units and two 1BD/1BA units totaling approximately 3,000 SF.
- Operational Efficiency: Separate electric meters plus house meter, onsite coin laundry, and six parking spaces.
Executive Summary
Priced to sell! Rare opportunity to acquire a well-maintained, high cash-flowing fourplex with large units in Fort Lauderdale. Located at 1471 NW 22nd St, this approximately 3,000 SF property features a desirable unit mix of two 2BD/1BA units and two 1BD/1BA units. Built in 1975, the asset offers PVC plumbing throughout, updated electrical panels, separate electric meters for each unit plus a house meter, and central A/C in all units. Most kitchens and bathrooms have been updated. Additional highlights include onsite coin laundry, a newer shingle roof (2021), accordion storm shutters (2020), and six on-site parking spaces. Offered at a 7.6% cap rate at asking price. Conveniently located minutes from I-95, Downtown Fort Lauderdale, the airport, and Fort Lauderdale Beach.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$98,400
|
$23.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$98,400
|
$23.24
|
| Taxes |
$15,570
|
$3.68
|
| Operating Expenses |
$7,460
|
$1.76
|
| Total Expenses |
$23,030
|
$5.44
|
| Net Operating Income |
$75,370
|
$17.80
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $98,400 |
| Annual Per SF | $23.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $98,400 |
| Annual Per SF | $23.24 |
| Taxes | |
|---|---|
| Annual | $15,570 |
| Annual Per SF | $3.68 |
| Operating Expenses | |
|---|---|
| Annual | $7,460 |
| Annual Per SF | $1.76 |
| Total Expenses | |
|---|---|
| Annual | $23,030 |
| Annual Per SF | $5.44 |
| Net Operating Income | |
|---|---|
| Annual | $75,370 |
| Annual Per SF | $17.80 |
Property Facts
| Price | $865,000 | Building Class | C |
| Price Per Unit | $216,250 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,235 SF |
| Cap Rate | 7.60% | No. Stories | 1 |
| No. Units | 4 | Year Built | 1975 |
| Property Type | Multifamily | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RML-25 | ||
| Price | $865,000 |
| Price Per Unit | $216,250 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,235 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Parking Ratio | 1.25/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RML-25 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,200 | - |
| 1+1 | 2 | $1,900 | - |
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Property Taxes
| Parcel Number | 49-42-28-19-0140 | Total Assessment | $585,350 (2025) |
| Land Assessment | $45,000 (2025) | Annual Taxes | $15,570 ($3.68/SF) |
| Improvements Assessment | $540,350 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
49-42-28-19-0140
Land Assessment
$45,000 (2025)
Improvements Assessment
$540,350 (2025)
Total Assessment
$585,350 (2025)
Annual Taxes
$15,570 ($3.68/SF)
Tax Year
2026
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Lauderdale Manors Fourplex | 1471 NW 22nd St
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