3970 NW 31ST Terrace, Lauderdale Lakes, FL 33309

$990,000
Property Type: Residential Income Square Footage: 3,534 Status: Active
Current Price: $990,000 List Date: 10/12/2026 Last Modified: 10/12/2026

Overview

Description

Excellent Investment Opportunity! Legal 5-Unit Multifamily Property Featuring Four Spacious 2-Bedroom, 1-Bath Apartments Plus One Studio. Currently Generating $6,700 Monthly With One Vacant Unit Offering Immediate Upside! Projected Income Of $8,400 Monthly Or $100,800 Annually! Annual Expenses: Taxes $18,000, Insurance Estimated $7,500, Water $3,756, Lawn $660. Total Approx. $29,916 Annually. Projected NOI $70,884 With A Potential 7.16 Cap! New Roof In 2023, Mostly Renovated Units With Updated Kitchens, Flooring And PVC Plumbing. Tenants Pay Their Own Electric! No HOA! Excellent Income-Producing Property With Strong Upside Potential!

Listing Details MLS# B26087278

General Property Information

Number Of Units Total
4
Property Sub Type
Quadruplex
Building Area Main
3534
Building Area Source
Other
Living Area Main
3534
Living Area Source
Other
Adjusted Area Main
3534
Accessibility Features YN
No
Year Built
1972
Parking Total
8
Gated Community YN
No
Lot Size Area
8850
Lot Size Acres
0.2
Lot Size Dimensions
8850
Senior Community YN
No
Stories Total
Yes
Pool Private YN
No
LP/Assessed Value
1.4

Property Features

Documents Available: Financial Statement; Other Available Information; Rent Rolls Exterior Features: Other Flooring: Tile Leasing Permitted Details: Okay To Lease Property Condition: Resale Special Listing Conditions: Standard Structure Type: Multi Family; Quadruplex Tenant Pays: Electricity Source Of Expenses: Owner Provided; Pro Forma Construction Materials: Block Cooling: Electric Heating: Central; Separate Meters Listing Terms: 1031 Exchange; Cash; Conventional Main Living Area: Entry Level Pets Allowed YN: Yes Pets Allowed: No Restrictions Possession: Negotiable Restrictions: No Restrictions Roof: Shingle Sewer: Public Sewer Special Information: Sold As-Is Tax Information: Tax Reflects No Exemptions Utilities: Cable Available; Electricity Available; Water Available Water Source: Public Showing Requirements: Appointment Only; Showing Service Unit 1 Appliances: Range; Refrigerator Unit 1 Other Equipment: Air Conditioning Unit Unit 1 Parking Features: Open Parking Unit 1 Rooms: Family Room Unit 2 Appliances: Range; Refrigerator Unit 2 Other Equipment: Air Conditioning Unit Unit 2 Parking Features: Open Parking Unit 2 Rooms: Kitchen Unit 3 Appliances: Range; Refrigerator Unit 3 Other Equipment: Air Conditioning Unit Unit 3 Parking Features: Open Parking Unit 4 Appliances: Range; Refrigerator Unit 4 Other Equipment: Air Conditioning Unit Unit 4 Parking Features: Open Parking Acreage Description: Less Than 1/4 Acre Lot; Less Than 1 Acre Lot

Contract Information

Comp Sale YN
No
Original List Price
990000
Negotiable Seller Concessions YN
Yes
Listing Service
Full Service
Seller Represented YN
Yes

Location and Legal

Country
United States
County Or Parish
Broward
County Parish Name
Broward
Street Number
3970
Street Direction Prefix
NW
Street Name
31ST
Street Suffix
Terrace
City Name
Lauderdale Lakes
Municipality Type
Incorporated
State Or Province
FL
Postal Code
33309
Postal Code +4
4974
Postal Zip
33309
Subdivision Name
ORIOLE ESTATES SEC 8
Development Name
5 Units For Sale! Money Maker!
Area
3550
Geographic Area
FTNW - Ft Ldale NW(3390-3400;3460;3540-3560;3720;3810)
Elementary School
Oriole
Middle Or Junior School
Lauderdale Lakes
High School
Boyd H. Anderson
Special Assessment YN
No
Parcel Number
494219152161
Subdivision Number
15
Zoning
RM-16
Flood Zone
X
Multiple Offers Accepted
Yes

Financial Information

Master Association YN
No
Tax Annual Amount
18353.07
Tax Year
2025
Tax Assessed/SOH Value
705740
Tax Legal Description
ORIOLE ESTATES SEC 8 65-9 B PT OF TR A DESC AS S 75 OF N 255.71 OF W 118
Assessor Market Value
751890

Status Change Information

Major Change Timestamp
2026-10-12T17:21:12Z
Major Change Type
New Listing
Status Change Date
2026-10-12

More Information

Leasing Permitted Details

Leasing Permitted YN
Yes

Meter Information

Separate Electric Meters YN
Yes
Number Of Separate Electric Meters
5
Separate Gas Meters YN
No
Separate Water Meters YN
No
Number Of Meters Total
Yes

Income and Expenses

Annual Total Expense
29916
Gross Income
100800
Net Operating Income
70884

Pet Details

Pet Fee YN
No

Leasing Restrictions

Leasing - Max Times Per Year
365
Leasing - Minimum Number of Days
5

Unit 1 Details

Actual Rent
1700
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
Hotel Room YN
No
SqFt
700

Unit 1 Lease Description

Currently Leased YN
Yes
Lease Term
12 Months
Lease Expiration
2027-03-01
Occupant Type
Tenant

Unit 1 Parking Details

Carport YN
No
Garage YN
No

Unit 2 Details

Actual Rent
1700
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
Hotel Room YN
No
SqFt
7000

Unit 2 Lease Description

Currently Leased YN
Yes
Lease Term
12 Months
Lease Expiration
2027-08-01
Occupant Type
Vacant

Unit 2 Parking Details

Carport YN
No
Garage YN
No

Unit 3 Details

Actual Rent
2000
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
SqFt
7000

Unit 3 Lease Description

Currently Leased YN
Yes
Lease Term
12 Months
Lease Expiration
2027-10-01
Occupant Type
Tenant

Unit 4 Details

Actual Rent
1300
Baths Full
Yes
Efficiency YN
No
SqFt
400

Unit 4 Lease Description

Currently Leased YN
Yes
Lease Term
Other
Lease Expiration
2026-10-01
Occupant Type
Vacant

Price Calculations

Current Price To SqFt
280.13

Originating Details

Originating System Key
20261006165658626458000000
Originating System ID
M00000170
IDX
Listing Office: Fidelity Real Estate Group LLC
Source MLS Verified
Last Updated: October - 12 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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