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Lauderdale Manors Fourplex 1480 NW 20th Ct 4 Unit Apartment Building $899,000 ($224,750/Unit) 5.92% Cap Rate Fort Lauderdale, FL 33311
Investment Highlights
- Stable Income Stream – Fully occupied fourplex generating $6,000 per month with upside potential by aligning rents to current market levels.
- Major Upgrades – New roof, impact windows, central A/Cs, and updated electrical panels for low maintenance.
- High Demand Market – Situated in a fast-growing area with strong tenant demand and rising rental values.
- Strong Unit Mix – Two 1-bed/1-bath units, one 1-bed + den, and one studio, appealing to varied renters.
- Prime Location – Minutes to Downtown, Las Olas, I-95, and Sunrise Blvd, close to jobs, dining, and retail.
Executive Summary
Rare opportunity to acquire a fully occupied fourplex at 1480 NW 20th Ct, Fort Lauderdale. The property features two 1-bed/1-bath units, one 1-bed/1-bath + den, and one studio, generating $6,000 per month with potential to increase to market rents for even higher returns. Recently upgraded with a new roof, impact windows, central A/C units, and updated electrical panels, it offers low-maintenance and reliable cash flow. Ideally located just 10 minutes to Downtown & Las Olas, with easy access to I-95, Sunrise Blvd, and major retail and dining corridors, this investment provides strong current income and long-term growth potential.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$82,800
|
$37.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,800
|
$37.86
|
| Taxes |
$16,182
|
$7.40
|
| Operating Expenses |
$8,760
|
$4.01
|
| Total Expenses |
$24,942
|
$11.40
|
| Net Operating Income |
$57,858
|
$26.46
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $82,800 |
| Annual Per SF | $37.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $82,800 |
| Annual Per SF | $37.86 |
| Taxes | |
|---|---|
| Annual | $16,182 |
| Annual Per SF | $7.40 |
| Operating Expenses | |
|---|---|
| Annual | $8,760 |
| Annual Per SF | $4.01 |
| Total Expenses | |
|---|---|
| Annual | $24,942 |
| Annual Per SF | $11.40 |
| Net Operating Income | |
|---|---|
| Annual | $57,858 |
| Annual Per SF | $26.46 |
Property Facts
| Price | $899,000 | Building Class | C |
| Price Per Unit | $224,750 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 2,187 SF |
| Cap Rate | 5.92% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM-15 - primarily allows for single-family and duplex residential structures within the Central City CRA (Community Redevelopment Agency) area. | ||
| Price | $899,000 |
| Price Per Unit | $224,750 |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 2,187 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1973 |
| Parking Ratio | 1.5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-15 - primarily allows for single-family and duplex residential structures within the Central City CRA (Community Redevelopment Agency) area. |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $1,675 | - |
| Studios | 1 | $1,100 | - |
1 1
Property Taxes
| Parcel Number | 49-42-28-18-0410 | Total Assessment | $557,310 (2026) |
| Land Assessment | $37,500 (2026) | Annual Taxes | $16,182 ($7.40/SF) |
| Improvements Assessment | $519,810 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-28-18-0410
Land Assessment
$37,500 (2026)
Improvements Assessment
$519,810 (2026)
Total Assessment
$557,310 (2026)
Annual Taxes
$16,182 ($7.40/SF)
Tax Year
2025
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Lauderdale Manors Fourplex | 1480 NW 20th Ct
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