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637 NE 4th Ave - Turnkey 9-Unit Apt Downtown Ft. Lauderdale 9 Unit Apartment Building Offered at $3,990,000 at a 6.02% Cap Rate Fort Lauderdale, FL 33304
INVESTMENT HIGHLIGHTS
- Best location in Fort Lauderdale
- Low maintenance and collect rent in Day 1
- Modern and stylish design by designer
EXECUTIVE SUMMARY
Discover an exceptional investment opportunity in the heart of Downtown Fort Lauderdale. This new-construction 9-unit multifamily property (built in 2022) offers strong performance, modern finishes, and unmatched flexibility for both short-term and long-term rental strategies.
Currently operated as a high-performing Airbnb with 81% occupancy, the property boasts 1,000+ five-star reviews and an impressive 4.8 host rating. The entire Airbnb business profile can be transferred to the buyer, allowing you to step into a fully automated, hassle-free operation and start collecting rental income from Day 1.
Investors seeking long-term stability also have the option to convert the property to traditional rentals, achieving a 5%+ cap rate with minimal effort.
Additional highlights:
- 6% cap rate based on current short-term rental operations
- Built in 2022 — modern, low-maintenance construction
- Turnkey, all furniture, fixtures, and improvements included
Whether you're looking for reliable cash flow, ease of ownership, or prime real estate in an A+ location, this property delivers exceptional value.
Currently operated as a high-performing Airbnb with 81% occupancy, the property boasts 1,000+ five-star reviews and an impressive 4.8 host rating. The entire Airbnb business profile can be transferred to the buyer, allowing you to step into a fully automated, hassle-free operation and start collecting rental income from Day 1.
Investors seeking long-term stability also have the option to convert the property to traditional rentals, achieving a 5%+ cap rate with minimal effort.
Additional highlights:
- 6% cap rate based on current short-term rental operations
- Built in 2022 — modern, low-maintenance construction
- Turnkey, all furniture, fixtures, and improvements included
Whether you're looking for reliable cash flow, ease of ownership, or prime real estate in an A+ location, this property delivers exceptional value.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$472,610
|
$46.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$472,610
|
$46.99
|
| Taxes |
$60,000
|
$5.97
|
| Operating Expenses |
$172,427
|
$17.14
|
| Total Expenses |
$232,427
|
$23.11
|
| Net Operating Income |
$240,183
|
$23.88
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $472,610 |
| Annual Per SF | $46.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $472,610 |
| Annual Per SF | $46.99 |
| Taxes | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $5.97 |
| Operating Expenses | |
|---|---|
| Annual | $172,427 |
| Annual Per SF | $17.14 |
| Total Expenses | |
|---|---|
| Annual | $232,427 |
| Annual Per SF | $23.11 |
| Net Operating Income | |
|---|---|
| Annual | $240,183 |
| Annual Per SF | $23.88 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $6,000 | 600 |
| Studios | 7 | $19,600 | 500 |
1 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 49-42-34-07-5390 | Total Assessment | $2,723,070 |
| Land Assessment | $607,500 | Annual Taxes | $60,000 ($5.97/SF) |
| Improvements Assessment | $2,115,570 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
49-42-34-07-5390
Land Assessment
$607,500
Improvements Assessment
$2,115,570
Total Assessment
$2,723,070
Annual Taxes
$60,000 ($5.97/SF)
Tax Year
2025
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637 NE 4th Ave - Turnkey 9-Unit Apt Downtown Ft. Lauderdale
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