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1481 NW 22nd St 4 Unit Apartment Building $900,000 ($225,000/Unit) 7% Cap Rate Fort Lauderdale, FL 33311
Executive Summary
Opportunity Zone Property! Turnkey fourplex investment opportunity in the heart of Fort Lauderdale, offering immediate cash flow with a currently 7% cap rate. This updated multifamily property consists of four income-producing units with strong tenant occupancy and upside potential for increased returns. The unit mix includes: Unit A – 2 bedrooms/1 bathroom, rented at $2,350 through Section 8; Unit B – 2 bedrooms/1 bathroom, rented at $1,850 on a month-to-month basis; Unit C – 1 bedroom/1 bathroom, rented at $1,600 on a month-to-month basis; and Unit D – 1 bedroom/1 bathroom, rented at $1,500 on a month-to-month basis. With three month-to-month tenants in place, a savvy investor has the flexibility to adjust rents to market value and further maximize NOI. Ideal for investors seeking stable income and value-add potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$87,600
|
$29.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$87,600
|
$29.23
|
| Taxes |
$13,157
|
$4.39
|
| Operating Expenses |
$2,700
|
$0.90
|
| Total Expenses |
$15,857
|
$5.29
|
| Net Operating Income |
$71,743
|
$23.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $29.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $29.23 |
| Taxes | |
|---|---|
| Annual | $13,157 |
| Annual Per SF | $4.39 |
| Operating Expenses | |
|---|---|
| Annual | $2,700 |
| Annual Per SF | $0.90 |
| Total Expenses | |
|---|---|
| Annual | $15,857 |
| Annual Per SF | $5.29 |
| Net Operating Income | |
|---|---|
| Annual | $71,743 |
| Annual Per SF | $23.94 |
Property Facts
| Price | $900,000 | Building Class | B |
| Price Per Unit | $225,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 2,997 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $900,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 2,997 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1976 |
| Parking Ratio | 1.5/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Range
- Dining Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,100 | - |
| 1+1 | 2 | $1,550 | - |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-42-28-19-0150 | Total Assessment | $623,410 (2026) |
| Land Assessment | $45,000 (2026) | Annual Taxes | $13,157 ($4.39/SF) |
| Improvements Assessment | $578,410 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-28-19-0150
Land Assessment
$45,000 (2026)
Improvements Assessment
$578,410 (2026)
Total Assessment
$623,410 (2026)
Annual Taxes
$13,157 ($4.39/SF)
Tax Year
2025
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Contact the Sale Advisor
1481 NW 22nd St