1501 NE 7th Avenue, Fort Lauderdale, FL 33304

$1,647,000

Virtual Tour

https://www.propertypanorama.com/1501-NE-7th-Ave-Fort-Lauderdale-FL-33304/unbranded

Property Type: Residential Income Square Footage: 794 Status: Active

Current Price: $1,647,000 List Date: 2/23/2026 Last Modified: 4/14/2026

Overview

Description

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.

Supplements: 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, floori ... (Read more)

Listing Details MLS# F10554588

General Property Information

Number Of Units Total: 4
Property Sub Type: Quadruplex
Living Area Main: 794
Year Built: 1973
Gated Community YN: No
Outdoor Living Spaces YN: Yes
Stories Total: 2
Pool Private YN: Yes
Spa YN: Yes
LP/Assessed Value: 7.42

Property Features

Documents Available: Deposit - Last Months Rent Exterior Features: Outdoor Shower Fencing: Fenced Flooring: Ceramic Tile Property Condition: Resale Construction Materials: Block Cooling: Ceiling Fan(s); Central Air Association Type: Other Type of Association Heating: Central; Separate Meters Listing Terms: Cash; Conventional Pool Features: In Ground Possession: Other Roof: Barrel Sewer: Public Sewer Special Information: Sold As-Is Storm Protection Details: High Impact Door Tax Information: City/County Utilities: Cable Available Water Source: Public Window Features: Blinds Showing Requirements: 24 Hour Notice; Appointment Only Outdoor Living Spaces: Balcony Unit 1 Other Equipment: Air Conditioning Unit Unit 1 Parking Features: Parking Space Unit 2 Other Equipment: Air Conditioning Unit Unit 2 Parking Features: Parking Space Unit 3 Appliances: Dishwasher Unit 3 Parking Features: Parking Space Unit 4 Parking Features: Other Acreage Description: Less Than 1/4 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 1647000

Location and Legal

Country: United States
County Or Parish: Broward
County Parish Name: Broward
Street Number: 1501
Street Direction Prefix: NE
Street Name: 7th
Street Suffix: Avenue
City Name: Fort Lauderdale
State Or Province: FL
Postal Code: 33304
Postal Code +4: 4846
Postal Zip: 33304
Subdivision Name: The Terrace Condos Inc
Area: 3380
Geographic Area: FTNE - Ft Lauderdale NE (3240-3270;3350-3380;3440-3450;3700)
Elementary School: North Side
Middle Or Junior School: Sunrise
High School: Fort Lauderdale
Parcel Number: 494235AF0050
Zoning: RS-8
Directions: GPS

Financial Information

Association YN: Yes
Tax Annual Amount: 4319
Tax Year: 2024
Tax Assessed/SOH Value: 222070
Tax Legal Description: THE TERRACE CONDOS INC UNIT 5 PER CDO BK/PG: 39000/1108
Assessor Market Value: 222070

Status Change Information

Major Change Timestamp: 2026-02-23T05:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-02-24

More Information

Co-Ownership

Property Management YN: No

Short Sale Details

Short Sale Addendum: No

Ceiling Fan Details

Number Of Ceiling Fans: 10

Storm Protection

Impact Glass: Yes

Showing Details

Pet(s) on Premises: Yes

Unit 1 Details

Actual Rent: 2500
Baths Full: 2
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 794

Unit 1 Lease Description

Currently Leased YN: Yes

Unit 2 Details

Actual Rent: 1900
Baths Full: Yes
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658

Unit 2 Lease Description

Currently Leased YN: Yes

Unit 3 Details

Actual Rent: 1850
Baths Full: Yes
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658

Unit 3 Lease Description

Currently Leased YN: Yes

Unit 4 Details

Actual Rent: 1875
Baths Full: Yes
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 658

Unit 4 Lease Description

Currently Leased YN: Yes

Price Calculations

Current Price To SqFt: 2074.31

Section Details

Parcel Number MLX: 0050

Originating Details

Originating System Key: 610651448
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: FLL

Exterior Features

Outdoor Shower: Yes

Flooring

Ceramic Tile: Yes

Property Condition

Resale: Yes

Special Information

Sold As-Is: Yes

Documents Available

Deposit - Last Months Rent: Yes

Fencing

Fenced: Yes

Possession

Other: Yes

Sewer

Public Sewer: Yes

Utilities

Cable Available: Yes

Heating

Central: Yes
Separate Meters: Yes

Window Features

Blinds: Yes

Construction Materials

Block: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Pool Features

In Ground: Yes

Roof

Barrel: Yes

Water Source

Public: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes

Association Type

Other Type of Association: Yes

Showing Requirements

24 Hour Notice: Yes
Appointment Only: Yes

Storm Protection Details

High Impact Door: Yes

Tax Information

City/County: Yes

Outdoor Living Spaces

Balcony: Yes

Unit 1 Other Equipment

Air Conditioning Unit: Yes

Unit 1 Parking Features

Parking Space: Yes

Unit 2 Other Equipment

Air Conditioning Unit: Yes

Unit 2 Parking Features

Parking Space: Yes

Unit 2 Patio/Porch

Patio/Porch: Yes

Unit 3 Appliances

Dishwasher: Yes

Unit 3 Parking Features

Parking Space: Yes

Unit 3 Patio/Porch

Patio/Porch: Yes

Unit 4 Parking Features

Other: Yes

Unit 4 Patio/Porch

Patio/Porch: Yes

Acreage Description

Less Than 1/4 Acre Lot: Yes

Listing Office: Douglas Elliman

Last Updated: April - 14 - 2026

Broker Attribution: Cheri-Lynn.Diamond@Elliman.com

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1501 NE 7th Avenue, Fort Lauderdale, FL 33304 (MLS# F10554588)