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The Island Resort 1944 NE 5th St 5 Unit Apartment Building $2,299,000 ($459,800/Unit) 8% Cap Rate Deerfield Beach, FL 33441
Investment Highlights
- Just two blocks from the beach, The Island Resort is a top-rated property with hundreds of 5-star reviews.
- The property is a fourplex that rents as one home and four villas, each with full kitchens and bathrooms.
- It has operated as a short-term rental for three years and already has bookings for next season.
- Located in Ocean Vue, Broward County, it offers strong income, 8 parking spots, and future development potential.
Executive Summary
The Island Resort at Deerfield Beach is a highly rated, resort-style short-term rental property located just two blocks from the beach. Now in its third year of operation, the business continues to show strong growth, with revenue increasing from $82,571 (Jan–May 2025) to $120,772 (Jan–May 2026). Even during May, traditionally one of the slowest vacation rental months, revenue grew from approximately $5,000 to more than $22,000 year over year. According to Hostaway, gross revenue through June 12, 2026 reached approximately $143,000, compared to $85,000 during the same period in 2025—an increase of nearly 70%. With existing bookings already in place for the upcoming season and a flexible configuration that can operate as a single property or multiple rental units, The Island Resort offers investors a proven income-producing asset with continued upside in one of South Florida’s most desirable beach markets.
Property Facts
| Price | $2,299,000 | Apartment Style | Low-Rise |
| Price Per Unit | $459,800 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8% | Building Size | 2,509 SF |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 2.8/1,000 SF |
| Zoning | RM-10 - Residential Multifamily | ||
| Price | $2,299,000 |
| Price Per Unit | $459,800 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 2,509 SF |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 2.8/1,000 SF |
| Zoning | RM-10 - Residential Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 48-43-05-02-1480 | Improvements Assessment | $1,071,240 |
| Land Assessment | $152,610 | Total Assessment | $1,223,850 |
Property Taxes
Parcel Number
48-43-05-02-1480
Land Assessment
$152,610
Improvements Assessment
$1,071,240
Total Assessment
$1,223,850
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The Island Resort | 1944 NE 5th St
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