Log In/Sign Up
Your email has been sent.
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 196,000 in 2024 to $211,000 in 2026. During May, revenue grew from approximately $5,000 to more than $22,000 year over year. According to Hostaway, gross revenue through July 31, 2026 reached approximately $180,000, compared to $125,000 during the same period in 2025—an increase of nearly 50%. 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
1 of 49
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
The Island Resort | 1944 NE 5th St