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Oakland Villas 355 NW 32nd St 6 Unit Apartment Building $1,300,000 ($216,667/Unit) 7.18% Cap Rate Oakland Park, FL 33309
Investment Highlights
- Strong Cash Flow – Nearly $10,000/month in rental income with $73,709 NOI.
- Value-Add Opportunity – Month-to-month leases allow for immediate rent adjustments to market rates.
- Excellent Accessibility – Minutes from Fort Lauderdale Beach, I-95, and Fort Lauderdale–Hollywood International Airport.
- 6-Unit Multifamily Asset – Unit mix of 4×1BD/1BA, 1×2BD/1BA, and 1 studio appealing to a broad tenant base.
- Prime East of US-1 Location – Situated in a high-demand Oakland Park rental corridor.
- High Rental Demand Area – Strong tenant demand driven by proximity to employment, beaches, and major transportation routes.
Executive Summary
Excellent opportunity to acquire a 6-unit multifamily property in Oakland Park, ideally located east of U.S. Route 1. The property features a desirable unit mix consisting of four 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, and one studio, appealing to a broad tenant base. The property currently generates nearly $10,000 per month in rental income with a Net Operating Income (NOI) of $73,709.21. All tenants are on month-to-month leases, offering immediate upside through potential rent increases to market rates. Strategically located just minutes from Fort Lauderdale Beach, I-95, and Fort Lauderdale–Hollywood International Airport, the property benefits from strong rental demand in a highly desirable east-of-US-1 location. This is an excellent opportunity for investors seeking stable cash flow with significant value-add potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$117,900
|
$24.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$117,900
|
$24.88
|
| Taxes |
$17,175
|
$3.62
|
| Operating Expenses |
$27,016
|
$5.70
|
| Total Expenses |
$44,191
|
$9.32
|
| Net Operating Income |
$73,709
|
$15.55
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $117,900 |
| Annual Per SF | $24.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $117,900 |
| Annual Per SF | $24.88 |
| Taxes | |
|---|---|
| Annual | $17,175 |
| Annual Per SF | $3.62 |
| Operating Expenses | |
|---|---|
| Annual | $27,016 |
| Annual Per SF | $5.70 |
| Total Expenses | |
|---|---|
| Annual | $44,191 |
| Annual Per SF | $9.32 |
| Net Operating Income | |
|---|---|
| Annual | $73,709 |
| Annual Per SF | $15.55 |
Property Facts
| Price | $1,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $216,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 7.18% | Building Size | 3,287 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2002 |
| Property Subtype | Apartment | Parking Ratio | 1.83/1,000 SF |
| Zoning | R-2 | ||
| Price | $1,300,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 7.18% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 3,287 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2002 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | R-2 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Security System
- Kitchen
- Refrigerator
- Oven
- Smoke Free
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,300 | - |
| 1+1 | 4 | $1,900 | - |
| Studios | 1 | $1,400 | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 49-42-22-23-0060 | Total Assessment | $834,720 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | $17,175 ($5.23/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-22-23-0060
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$834,720 (2026)
Annual Taxes
$17,175 ($5.23/SF)
Tax Year
2025
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Oakland Villas | 355 NW 32nd St
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