4204 N Ocean Dr
Closed4204 N Ocean Dr, Lauderdale-By-The-Sea, FL 33308
Property type
Multifamily
Unit / Space count
4
Price
$1,375,000
Building size
2,538 sf
Rentable area
2,538 SF
Year built
1966
Year renovated
Occupancy
Zoning code
Lot size
0.13 Acres
Sold/status
Sold · Date unknown
Sale price
$1375000
Unit mix
1x
2br
Bedroom count
Property description
This well-maintained multifamily offering at 4204 N Ocean Dr presents a rare opportunity to acquire a turnkey, low-rise asset in a highly desirable coastal market. The 2,538 square foot building consists of four units and was originally constructed in 1966, with significant renovations completed in 2024. Zoned RM-25 and situated on a 0.25-acre lot, the property offers both immediate income generation and long-term flexibility, appealing to investors seeking stability with potential future upside. The property is currently operated as short-term rentals and demonstrates strong in-place performance, with average daily rates of approximately $150 for one-bedroom units and $200 for the two-bedroom unit. Clear revenue growth potential exists through optimized pricing and professional management, with estimated upside of approximately 17% for one-bedroom units and 12.5% for the two-bedroom unit. Updated interiors feature modern appliances and contemporary finishes designed to meet current short-term rental guest expectations and support premium positioning. Capital improvements have been thoughtfully addressed, minimizing near-term expenditures for a new owner. Units 3 and 4 have been fully renovated, the exterior has been recently repainted, and a new roof was installed in 2024. Combined with its efficient unit mix, proven operating history, and favorable zoning, the property represents a compelling opportunity to acquire a high-performing coastal multifamily asset with both immediate cash flow and long-term investment appeal.
Property highlights
- 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.