$1,585,000
Fort Lauderdale, FL 33304
MLS# B26093017
658 sqft
1 / 40
Property Description
RARE 5-PLEX MULTIFAMILY INVESTMENT OPPORTUNITY IN FORT LAUDERDALE! Ideal for investors and 1031 exchange buyers seeking a renovated income-producing property in Middle River Terrace. UNIQUE FEATURE: Each of the 5 units has its own separate tax parcel ID, individual water and electric meters. Four 1BR/1BA units and one 2BR/2BA, each with in-unit washer/dryer. Upgrades include impact windows, remodeled kitchens and bathrooms, updated flooring, new perimeter fence and second-floor exterior railings. Swimming pool, private outdoor areas, ample off-street parking and NO HOA! Convenient to Las Olas Boulevard, Wilton Manors, Downtown Fort Lauderdale, dining, shopping, and beaches. Strong rental income and long-term investment potential.
Details
Maps
Contract Information
Comp Sale YN: No
Owner Phone: 4016399223
Negotiable Seller Concessions YN: No
Seller Represented YN: Yes
Listing Date: 2026-10-26
Status: Active
Original List Price: 1585000
List Price: $1,585,000
Current Price: $1,585,000
Listing Service: Full Service
Location and Legal
County Or Parish: Broward
Municipality Type: Incorporated
Geographic Area: FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Special Assessment YN: No
Flood Zone: AE
Country: United States
Street Number: 1501
Street Direction Prefix: NE
Street Name: 7TH
Street Suffix: Avenue
Unit Number: 1
State Or Province: FL
Postal Code: 33304
Postal Code +4: 4846
Subdivision Name: TERRACE CONDOS INC
Area: 3370
Elementary School: North Side
Middle Or Junior School: Sunrise
High School: Fort Lauderdale
Parcel Number: 494235af0010
Zoning: RS-8
General Property Information
Number Of Units Total: 4
Adjusted Area Main: 658
Living Area Main: 658
Living Area Source: Public Records
Lot Size Dimensions: 4819
Accessibility Features YN: No
Gated Community YN: No
Parking Total: 10
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Land Lease YN: No
Recreation Lease YN: No
Stories Total: 2
Pool Private YN: No
Spa YN: Yes
LP/Assessed Value: 8.11
Property Sub Type: Quadruplex
Building Area Main: 658
Building Area Source: Public Records
Year Built: 1973
Financial Information
Application Required YN: No
Master Association YN: No
Estimated Monthly Assoc Recurring Fee: 0
Tax Assessed/SOH Value: 195330
Assessor Market Value: 195330
Tax Annual Amount: 4157.94
Tax Year: 2025
Tax Legal Description: THE TERRACE CONDOS INC UNIT 1 PER CDO BK/PG: 39000/1108
Office/Member Information
DXORIGMLSID: RML
Exterior Features
Outdoor Shower: 1
Storage: 1
Flooring
Ceramic Tile: 1
Foundation Details
Block: 1
Leasing Permitted Details
Leasing Permitted YN: Yes
Okay To Lease: 1
Okay To Lease During First Year: 1
Short Term Rentals Allowed: 1
Property Condition
Resale: 1
Spa Features
In Ground: 1
Special Listing Conditions
Standard: 1
Co-Ownership
Property Management YN: No
Documents Available
Copy Of Lease(s): 1
Fencing
Back Yard: 1
Fenced: 1
Gate: 1
Wood: 1
Meter Information
Separate Electric Meters YN: Yes
Separate Gas Meters YN: No
Separate Water Meters YN: Yes
Number Of Meters Total: 12
Number Of Separate Electric Meters: 6
Number Of Separate Water Meters: 6
Structure Type
Multi Family: 1
Tenant Pays
Electricity: 1
Water: 1
Possession
Close Of Escrow: 1
Sewer
Public Sewer: 1
Utilities
Electricity Available: 1
Sewer Connected: 1
Water Connected: 1
Heating
Central: 1
Window Features
Storm Window(s): 1
Construction Materials
CBS: 1
Stucco: 1
Levels
Two: 1
Listing Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Lot Features
Corner Lot: 1
Roof
Spanish Tile: 1
Tile: 1
Water Source
Public: 1
Income and Expenses
Annual Total Expense: 36377
Gross Income: 127500
Net Operating Income: 91123
Operating Expense: 36377
Source Of Expenses
Owner Provided: 1
Cooling
Central Air: 1
Showing Requirements
Call Listing Agent: 1
No Sign: 1
Main Living Area
Entry Level: 1
Pets Allowed YN
Yes: 1
Pets Allowed
Cats OK: 1
Dogs OK: 1
No Restrictions: 1
Pet Details
Pet Fee YN: Yes
Pet Fee: 350
Restrictions
Limited # Vehicles: 1
Storm Protection
Impact Glass: Complete
Tax Information
City/County: 1
Outdoor Living Spaces
Balcony: 1
Patio: 1
Balcony Details
Balcony - Open: 1
Patio Details
Patio - Open: 1
Unit 1 Appliances
Dishwasher: 1
Disposal: 1
Dryer: 1
Microwave: 1
Refrigerator: 1
Washer: 1
Unit 1 Details
Actual Rent: 200
Baths Full: 1
Beds Total: 1
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658
Unit 1 Lease Description
Currently Leased YN: No
Occupant Type: Tenant
Unit 1 Other Equipment
Air Conditioning Unit: 1
Unit 1 Parking Details
Carport YN: No
Garage YN: No
Unit 1 Parking Features
Parking Space: 1
Unit 1 Patio/Porch
Patio/Porch: 1
Unit 1 Rooms
Kitchen: 1
Laundry Room: 1
Unit 2 Appliances
Dishwasher: 1
Dryer: 1
Microwave: 1
Range: 1
Refrigerator: 1
Washer: 1
Unit 2 Details
Actual Rent: 1900
Baths Full: 1
Beds Total: 1
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658
Unit 2 Lease Description
Currently Leased YN: Yes
Lease Term: 12 Months
Lease Expiration: 2027-05-31
Occupant Type: Tenant
Unit 2 Other Equipment
Air Conditioning Unit: 1
Unit 2 Parking Details
Carport YN: No
Garage YN: No
Unit 2 Parking Features
Parking Space: 1
Unit 2 Patio/Porch
Patio/Porch: 1
Unit 2 Rooms
Kitchen: 1
Unit 3 Appliances
Dishwasher: 1
Dryer: 1
Microwave: 1
Range: 1
Refrigerator: 1
Washer: 1
Unit 3 Details
Actual Rent: 1850
Baths Full: 1
Beds Total: 1
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658
Unit 3 Lease Description
Currently Leased YN: Yes
Lease Term: 12 Months
Lease Expiration: 2027-08-31
Occupant Type: Tenant
Unit 3 Other Equipment
Air Conditioning Unit: 1
Unit 3 Parking Details
Carport YN: No
Garage YN: No
Unit 3 Parking Features
Parking Space: 1
Unit 3 Rooms
Kitchen: 1
Unit 4 Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Washer: 1
Unit 4 Details
Actual Rent: 1875
Baths Full: 1
Beds Total: 1
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658
Unit 4 Lease Description
Currently Leased YN: Yes
Lease Term: 12 Months
Lease Expiration: 2026-10-31
Occupant Type: Tenant
Unit 4 Other Equipment
Air Conditioning Unit: 1
Unit 4 Parking Details
Carport YN: No
Garage YN: No
Unit 4 Parking Features
Parking Space: 1
Unit 4 Rooms
Kitchen: 1
Price Calculations
Current Price To SqFt: 2408.81
Acreage Description
10 Or More Acre Lot: 1
Status Change Information
Major Change Timestamp: 2026-10-27T13:37:58Z
Major Change Type: New Listing
Status Change Date: 2026-10-26
Originating Details
Originating System Key: 20261026233346442242000000
Originating System ID: M00000170
Property Features
Documents Available: Copy Of Lease(s)
Exterior Features: Outdoor Shower; Storage
Fencing: Back Yard; Fenced; Gate; Wood
Flooring: Ceramic Tile
Foundation Details: Block
Leasing Permitted Details: Okay To Lease; Okay To Lease During First Year; Short Term Rentals Allowed
Property Condition: Resale
Spa Features: In Ground
Special Listing Conditions: Standard
Structure Type: Multi Family
Tenant Pays: Electricity; Water
Source Of Expenses: Owner Provided
Construction Materials: CBS; Stucco
Cooling: Central Air
Heating: Central
Levels: Two
Listing Terms: 1031 Exchange; Cash; Conventional
Lot Features: Corner Lot
Main Living Area: Entry Level
Pets Allowed YN: Yes
Pets Allowed: Cats OK; Dogs OK; No Restrictions
Possession: Close Of Escrow
Restrictions: Limited # Vehicles
Roof: Spanish Tile; Tile
Sewer: Public Sewer
Tax Information: City/County
Utilities: Electricity Available; Sewer Connected; Water Connected
Water Source: Public
Window Features: Storm Window(s)
Showing Requirements: Call Listing Agent; No Sign
Outdoor Living Spaces: Balcony; Patio
Balcony Details: Balcony - Open
Patio Details: Patio - Open
Unit 1 Appliances: Dishwasher; Disposal; Dryer; Microwave; Refrigerator; Washer
Unit 1 Other Equipment: Air Conditioning Unit
Unit 1 Parking Features: Parking Space
Unit 1 Rooms: Kitchen; Laundry Room
Unit 2 Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer
Unit 2 Other Equipment: Air Conditioning Unit
Unit 2 Parking Features: Parking Space
Unit 2 Rooms: Kitchen
Unit 3 Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer
Unit 3 Other Equipment: Air Conditioning Unit
Unit 3 Parking Features: Parking Space
Unit 3 Rooms: Kitchen
Unit 4 Appliances: Dishwasher; Microwave; Range; Refrigerator; Washer
Unit 4 Other Equipment: Air Conditioning Unit
Unit 4 Parking Features: Parking Space
Unit 4 Rooms: Kitchen
Acreage Description: 10 Or More Acre Lot
Listing Office: Douglas Elliman
Last Updated: October - 27 - 2026
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