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806 NE 16th Pl 8 Unit Apartment Building $2,450,000 ($306,250/Unit) 4.75% Cap Rate Fort Lauderdale, FL 33305
Investment Highlights
- Located steps from Wilton Drive
- Impact windows all around and laundry on site.
- Excellent opportunity to have long term rentals as well as Short term rentals. Current leases do not include utilities.
Executive Summary
Exceptional prime investment opportunity in a highly desirable Fort Lauderdale location just steps from Wilton Manors and vibrant Wilton Drive. This well-maintained 8-unit multifamily property features spacious 2-bedroom, 1-bath units with large bedrooms, terrazzo floors, impact windows, and more. The property enjoys strong year-round occupancy and includes a common laundry area that generates additional income. Current leases do not include water, offering a new owner the opportunity to further increase revenue potential. Ideal for investors seeking flexibility, this property presents the opportunity to operate as a combination of short-term furnished rentals and long-term annual leases. Conveniently located just a few miles from the beach, shopping, dining, and major highways.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$149,973
|
$22.70
|
| Other Income |
$2,275
|
$0.34
|
| Vacancy Loss |
$1,675
|
$0.25
|
| Effective Gross Income |
$150,573
|
$22.79
|
| Taxes |
$25,298
|
$3.83
|
| Operating Expenses |
$21,204
|
$3.21
|
| Total Expenses |
$46,502
|
$7.04
|
| Net Operating Income |
$104,071
|
$15.75
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $149,973 |
| Annual Per SF | $22.70 |
| Other Income | |
|---|---|
| Annual | $2,275 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | $1,675 |
| Annual Per SF | $0.25 |
| Effective Gross Income | |
|---|---|
| Annual | $150,573 |
| Annual Per SF | $22.79 |
| Taxes | |
|---|---|
| Annual | $25,298 |
| Annual Per SF | $3.83 |
| Operating Expenses | |
|---|---|
| Annual | $21,204 |
| Annual Per SF | $3.21 |
| Total Expenses | |
|---|---|
| Annual | $46,502 |
| Annual Per SF | $7.04 |
| Net Operating Income | |
|---|---|
| Annual | $104,071 |
| Annual Per SF | $15.75 |
Property Facts
| Price | $2,450,000 | Building Class | C |
| Price Per Unit | $306,250 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 6,606 SF |
| Cap Rate | 4.75% | Average Occupancy | 88% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.21/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RDS-15 | ||
| Price | $2,450,000 |
| Price Per Unit | $306,250 |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 6,606 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | RDS-15 |
Amenities
Unit Amenities
- Ceiling Fans
- Tile Floors
- Refrigerator
- Range
- Double Pane Windows
- Quartz Countertops
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-42-35-04-0770 | Total Assessment | $1,249,100 (2026) |
| Land Assessment | $54,990 (2026) | Annual Taxes | $25,298 ($3.83/SF) |
| Improvements Assessment | $1,080,560 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-35-04-0770
Land Assessment
$54,990 (2026)
Improvements Assessment
$1,080,560 (2026)
Total Assessment
$1,249,100 (2026)
Annual Taxes
$25,298 ($3.83/SF)
Tax Year
2025
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806 NE 16th Pl
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