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Riverside Fourplex 700-704 SW 16th Ave 4 Unit Apartment Building $950,000 ($237,500/Unit) 6.11% Cap Rate Fort Lauderdale, FL 33312
Investment Highlights
- Fully Occupied: All four 2-bedroom, 1-bath units are currently rented, producing $6,700 in consistent monthly income.
- Individually Metered: Each unit comes with central A/C and its own electric meter, allowing tenants to cover utilities and keeping owner expenses low.
- Solid Property: The 3,047 SF building sits on a large 10,000 SF lot, providing long-term stability and room for potential improvements.
- Rental Upside: With market rents on the rise, the property has the potential to increase gross income to approximately $8,800 per month.
- Great Location: Minutes from I-95, Fort Lauderdale-Hollywood International Airport, Downtown, Las Olas, and the beach, offering tenants excellent.
- Growing Market: Located in one of South Florida’s fastest-growing rental corridors, supported by strong demand, job growth, and appreciation trends.
Executive Summary
Rare investment opportunity in Fort Lauderdale — a 4-unit apartment complex at 700 SW 16th Ave. This 3,047 SF building on a spacious 10,000 SF lot includes four large and spacious 2-bedroom, 1-bath units. Each unit features central AC and individual electric meters. The property currently generates $6,700 in monthly rental income, with strong upside potential to increase rents to approximately $8,800 per month when adjusted to market rates. Ideally located minutes from I-95, Fort Lauderdale-Hollywood International Airport, downtown, and the beach, this property offers excellent access and sits in one of South Florida’s fastest-growing markets.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$80,100
|
$27.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$80,100
|
$27.24
|
| Taxes |
$14,125
|
$4.80
|
| Operating Expenses |
$7,860
|
$2.67
|
| Total Expenses |
$21,985
|
$7.48
|
| Net Operating Income |
$58,115
|
$19.77
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $80,100 |
| Annual Per SF | $27.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $80,100 |
| Annual Per SF | $27.24 |
| Taxes | |
|---|---|
| Annual | $14,125 |
| Annual Per SF | $4.80 |
| Operating Expenses | |
|---|---|
| Annual | $7,860 |
| Annual Per SF | $2.67 |
| Total Expenses | |
|---|---|
| Annual | $21,985 |
| Annual Per SF | $7.48 |
| Net Operating Income | |
|---|---|
| Annual | $58,115 |
| Annual Per SF | $19.77 |
Property Facts
| Price | $950,000 | Building Class | C |
| Price Per Unit | $237,500 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,940 SF |
| Cap Rate | 6.11% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 3/1,000 SF |
| Zoning | RM-15 - Multifamily Dwelling District | ||
| Price | $950,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,940 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 3/1,000 SF |
| Zoning | RM-15 - Multifamily Dwelling District |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,675 | - |
1 1
Property Taxes
| Parcel Number | 50-42-09-03-0110 | Total Assessment | $639,070 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $14,125 ($4.80/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
50-42-09-03-0110
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$639,070 (2025)
Annual Taxes
$14,125 ($4.80/SF)
Tax Year
2024
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Riverside Fourplex | 700-704 SW 16th Ave
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