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Casa Sul Mare 2625 NE 13th Ct 9 Unit Apartment Building $2,300,000 ($255,556/Unit) 3.22% Cap Rate Fort Lauderdale, FL 33304
Investment Highlights
- Hurricane Impact Windows And Doors Throughout
- Minutes From Fort Lauderdale Beach, Las Olas, And Major Tourism Drivers
- Diverse Unit Mix Including Studios, 1/1’s, 2/1’s, And 2/2’s
- New Barrel Tile Roof To Be Installed Prior To Closing
- Multiple Potential Exit Strategies Including Hold, STR Conversion, Or Redevelopment
Executive Summary
Marcus & Millichap is pleased to present Casa Sul Mare, a nine-unit multifamily property located at 2625 NE 13th Court in Fort Lauderdale, Florida. Built in 1958, the property totals 3,806 gross square feet and is situated on a 0.31-acre lot in one of Fort Lauderdale’s most desirable coastal neighborhoods.
The unit mix consists of 5 studio units, 1 one-bedroom/one-bathroom unit, 1 two-bedroom/one-bathroom unit, and 2 two-bedroom/two-bathroom units, offering a diverse layout appealing to both seasonal and long-term renters. The property features hurricane impact windows and doors throughout, and a new barrel tile roof is scheduled for completion prior to closing, significantly reducing near-term capital expenditure requirements for a future owner.
Casa Sul Mare is currently operated as annual rentals; however, given its location near Fort Lauderdale Beach and surrounding hospitality demand, a future owner may determine that short-term rentals represent a higher and better use of the asset. Additionally, the oversized 0.31-acre parcel in an infill coastal location presents potential long-term value as a redevelopment or covered land play, subject to zoning and entitlement considerations.
The property is located just minutes from Fort Lauderdale Beach, Birch State Park, Galleria Mall, and Las Olas Boulevard, placing residents near some of Broward County’s strongest tourism, dining, and employment drivers. The surrounding area continues to benefit from luxury residential development, hospitality investment, and sustained demand for coastal housing.
Casa Sul Mare presents a rare opportunity to acquire a well-located boutique asset with multiple exit strategies, including continued multifamily operations, short-term rental repositioning, or future redevelopment potential in a high-barrier-to-entry submarket.
The unit mix consists of 5 studio units, 1 one-bedroom/one-bathroom unit, 1 two-bedroom/one-bathroom unit, and 2 two-bedroom/two-bathroom units, offering a diverse layout appealing to both seasonal and long-term renters. The property features hurricane impact windows and doors throughout, and a new barrel tile roof is scheduled for completion prior to closing, significantly reducing near-term capital expenditure requirements for a future owner.
Casa Sul Mare is currently operated as annual rentals; however, given its location near Fort Lauderdale Beach and surrounding hospitality demand, a future owner may determine that short-term rentals represent a higher and better use of the asset. Additionally, the oversized 0.31-acre parcel in an infill coastal location presents potential long-term value as a redevelopment or covered land play, subject to zoning and entitlement considerations.
The property is located just minutes from Fort Lauderdale Beach, Birch State Park, Galleria Mall, and Las Olas Boulevard, placing residents near some of Broward County’s strongest tourism, dining, and employment drivers. The surrounding area continues to benefit from luxury residential development, hospitality investment, and sustained demand for coastal housing.
Casa Sul Mare presents a rare opportunity to acquire a well-located boutique asset with multiple exit strategies, including continued multifamily operations, short-term rental repositioning, or future redevelopment potential in a high-barrier-to-entry submarket.
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- Offering Memorandum
Property Facts
| Price | $2,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $255,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 3.22% | Building Size | 3,806 SF |
| Gross Rent Multiplier | 14.2 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 2.89/1,000 SF |
| Zoning | RMM25 - RMM-25 - RESIDENTIAL MULTIFAMILY MID RISE/MEDIUM HIGH DENSITY | ||
| Price | $2,300,000 |
| Price Per Unit | $255,556 |
| Sale Type | Investment |
| Cap Rate | 3.22% |
| Gross Rent Multiplier | 14.2 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 3,806 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 2.89/1,000 SF |
| Zoning | RMM25 - RMM-25 - RESIDENTIAL MULTIFAMILY MID RISE/MEDIUM HIGH DENSITY |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Washer/Dryer
- Ceiling Fans
- High Speed Internet Access
- Sprinkler System
- Wi-Fi
- Garden
- Office
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 275 |
| 1+1 | 1 | - | 431 |
| 2+1 | 1 | - | 600 |
| 2+2 | 2 | - | 700 |
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Moderately walkable
60/100
Moderately drivable
70/100
Minimal public transit
10/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 49-42-36-07-0400 | Improvements Assessment | $1,159,770 |
| Land Assessment | $341,250 | Total Assessment | $1,561,700 |
Property Taxes
Parcel Number
49-42-36-07-0400
Land Assessment
$341,250
Improvements Assessment
$1,159,770
Total Assessment
$1,561,700
Contacts
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Daniel Cunningham -
Dillon Majeski -
Evan Richardson -
River Rhoads -
Cory Sanchez -
Jason Nowik -
Marcus & Millichap
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