4204 Ocean Dr - Apartments FOR SALE


Lauderdale By The Sea, FL 33308
$1,500,000 USD
954-487-1100
4204 Ocean Dr, Lauderdale By The Sea, FL for Sale
$1,500,000 USD
Apartments - FOR SALE
1/19
null | 4.9% Cap Rate

4204 Ocean Dr
Lauderdale By The Sea, FL 33308


OVERVIEW

Well-maintained multifamily asset operated as short-term rentals in the highly desirable Lauderdale-by-the-Sea beach market. Proven in-place income with average daily rates of approximately $150 per night for one-bedroom units and $200 per night for the two-bedroom unit. Clear revenue upside with the ability to increase average daily rates by approximately 17% for one-bedroom units and 12.5% for the two-bedroom unit through optimized pricing and management. Property sits on a 0.13-acre lot with favorable RMM-25 zoning, offering long-term flexibility and potential future redevelopment upside. Updated interiors featuring modern appliances and contemporary finishes, catering to today’s short-term rental guests. Units 3 and 4 have been fully renovated; the property has been recently repainted and benefits from a new roof installed in 2024, minimizing near-term capital expenditures. Irreplaceable coastal location just steps from the beach and within walking distance to Anglin’s Fishing Pier, popular restaurants, cafes, and boutique retail. Prime Lauderdale-by-the-Sea setting with strong, year-round short-term rental demand and a limited supply of multifamily properties. Convenient access to Fort Lauderdale Beach, Las Olas Boulevard, Downtown Fort Lauderdale, US-1, I-95, and Fort Lauderdale–Hollywood International Airport. Rare opportunity to acquire a turnkey coastal multifamily asset in one of Broward County’s most sought-after beach communities.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$591 USD /SF

# OF UNITS

4

PRICE/UNIT

$375,000

CAP RATE

4.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

RM-25

APN/PARCEL ID

49-43-18-01-1490

ASK ABOUT THIS PROPERTY

Alex GerdakFranklin StreetMore Info
954-487-1100

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Alex GerdakFranklin StreetMore Info
954-487-1100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.