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806 NE 16th Pl 8 Unit Apartment Building $3,391,364 CAD ($423,920 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$222,584
|
$33.69
|
| Other Income |
$3,149
|
$0.48
|
| Vacancy Loss |
$2,319
|
$0.35
|
| Effective Gross Income |
$223,415
|
$33.82
|
| Taxes |
$35,018
|
$5.30
|
| Operating Expenses |
$29,351
|
$4.44
|
| Total Expenses |
$64,369
|
$9.74
|
| Net Operating Income |
$159,045
|
$24.08
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $222,584 |
| Annual Per SF | $33.69 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,149 |
| Annual Per SF | $0.48 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,319 |
| Annual Per SF | $0.35 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $223,415 |
| Annual Per SF | $33.82 |
| Taxes (CAD) | |
|---|---|
| Annual | $35,018 |
| Annual Per SF | $5.30 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $29,351 |
| Annual Per SF | $4.44 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,369 |
| Annual Per SF | $9.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $159,045 |
| Annual Per SF | $24.08 |
Property Facts
| Price | $3,391,364 CAD | Building Class | C |
| Price Per Unit | $423,920 CAD | 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 | $3,391,364 CAD |
| Price Per Unit | $423,920 CAD |
| 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 | $1,724,582 CAD (2026) |
| Land Assessment | $75,922 CAD (2026) | Annual Taxes | $35,018 CAD ($5.30 CAD/SF) |
| Improvements Assessment | $1,491,886 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
49-42-35-04-0770
Land Assessment
$75,922 CAD (2026)
Improvements Assessment
$1,491,886 CAD (2026)
Total Assessment
$1,724,582 CAD (2026)
Annual Taxes
$35,018 CAD ($5.30 CAD/SF)
Tax Year
2025
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806 NE 16th Pl
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