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Riverside Fourplex 640 SW 16th Ave 4 Unit Apartment Building $1,450,000 ($362,500/Unit) 5.46% Cap Rate Fort Lauderdale, FL 33312
Investment Highlights
- Prime Location: 5 minutes to highways & Downtown Fort Lauderdale; 10 minutes to FLL Airport and the beach
- Attractive Income Stream: Current GOI of $103,320 with a pro forma GOI of $156,000
- High Rental Demand: Excellent long-term tenant appeal and cash flow potential
- Strong Unit Mix: Two 3-bed/2-bath units and two 4-bed/2-bath units with spacious, modern layouts
- Value-Add Upside: One unit owner-occupied, allowing buyer occupancy or lease-up at market rent
Executive Summary
Rare opportunity to acquire a beautifully renovated 4,855 SF fourplex on a 7,000 SF lot with strong rental demand and excellent income potential, featuring two 3-bed/2-bath units and two 4-bed/2-bath units with spacious layouts and modern finishes, making it a true turn-key investment. The property currently generates a GOI of $103,320 with a pro forma GOI of $156,000, offering clear upside; one unit is owner-occupied, allowing flexibility for buyer occupancy or lease-up at market rent to boost cash flow. Ideally located approximately 5 minutes from major highways and Downtown Fort Lauderdale, 10 minutes from Fort Lauderdale–Hollywood International Airport, and 10 minutes from the beach, ensuring excellent accessibility and long-term tenant appeal.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$156,000
|
$23.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$156,000
|
$23.67
|
| Taxes |
$27,000
|
$4.10
|
| Operating Expenses |
$11,424
|
$1.73
|
| Total Expenses |
$38,424
|
$5.83
|
| Net Operating Income |
$117,576
|
$17.84
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $156,000 |
| Annual Per SF | $23.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $156,000 |
| Annual Per SF | $23.67 |
| Taxes | |
|---|---|
| Annual | $27,000 |
| Annual Per SF | $4.10 |
| Operating Expenses | |
|---|---|
| Annual | $11,424 |
| Annual Per SF | $1.73 |
| Total Expenses | |
|---|---|
| Annual | $38,424 |
| Annual Per SF | $5.83 |
| Net Operating Income | |
|---|---|
| Annual | $117,576 |
| Annual Per SF | $17.84 |
Property Facts
| Price | $1,450,000 | Property Subtype | Apartment |
| Price Per Unit | $362,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.46% | Building Size | 6,592 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Zoning | RM-15 | ||
| Price | $1,450,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,592 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Zoning | RM-15 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $2,700 | - |
| 4+2 | 2 | $2,955 | - |
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Property Taxes
| Parcel Number | 50-42-09-03-0061 | Total Assessment | $759,910 |
| Land Assessment | $0 | Annual Taxes | $27,000 ($4.10/SF) |
| Improvements Assessment | $0 | Tax Year | 2026 |
Property Taxes
Parcel Number
50-42-09-03-0061
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$759,910
Annual Taxes
$27,000 ($4.10/SF)
Tax Year
2026
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Riverside Fourplex | 640 SW 16th Ave
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