1501 NE 7th Avenue Fort Lauderdale, FL 33304
794 Sqft, Quadruplex
AGENT'S REMARKS ABOUT 1501 NE 7TH AVENUE
5-PLEX fully rented (MLS classified as 4-plex) in Fort Lauderdale. Unit mix: four 1BD/1BA and one 2BD/2BA. Gross income $121, 000 annually with approx. $89K NOI (5.1% cap at current pricing). Stable income with rental upside. Fully renovated with new kitchens, baths, A/C systems, flooring, fencing, railings, and new high-impact windows no major deferred maintenance. Each unit includes a washer/dryer, 2 parking spaces, and separate parcel numbers. Features a pool and a 2BD/2BA unit with a private jacuzzi. Strong 1031 exchange opportunity. roperty is legally structured as five separate condo parcels under one ownership (MLS classified as 4-plex). All units are fully rented. Unit mix includes four 1BD/1BA units and one 2BD/2BA unit. Current gross income is $121, 800 annually with approximately $89K NOI. Extensive renovations completed, including kitchens, bathrooms, A/C systems, flooring, fencing, railings, and high-impact windows. No major deferred maintenance.Each unit includes washer/dryer and two dedicated parking spaces. Property features a private pool, and the 2BD/2BA unit includes its own jacuzzi. Strong tenant demand in Middle River Terrace location. Ideal for 1031 exchange buyer or investor seeking stabilized cash flow with long-term flexibility due to separate parcel structure.$1,647,000
| Living Area | 794 SqFt |
| Year Built | 1973 |
| Private Pool | Yes |
| Subdivision | The Terrace Condos Inc |
| MLS# | F10554588 |
| Listing Status | Active |
| Days on Market | 2026-02-23 |
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PROPERTY DETAILS
- Property Type: Quadruplex
- Approx Living Area: 794 SqFt
- Year Built: 1973
- Stories: 2
- Flooring: Ceramic Tile
- Pool Description: In Ground
- Roof: Barrel
- Total Floors in Building: 2
- Construction: Block
- Exterior Description: Outdoor Shower, Balcony
- Cooling System: Central Air, Ceiling Fan(s)
- Heating: Central, Separate Meters
- Utility Information: Cable Available
- County: Broward
- Area: 3380
- Subdivision: The Terrace Condos Inc
- Annual Property Taxes: $4,319
- Elementary School: North Side
- Junior High School: Sunrise
- High School: Fort Lauderdale
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SIMILAR LISTINGS NEAR 1501 NE 7TH AVENUE
Listing courtesy of Douglas Elliman 04.14.2026
If you are interested in this property at 1501 NE 7th Avenue or any other properties in Fort Lauderdale please contact The Rucco Group at (561) 737-0366.