4204 N Ocean Dr, Lauderdale-by-the-Sea, FL 33308

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.

Nestled within the charming coastal enclave of Lauderdale-By-The-Sea, the area surrounding 4204 N Ocean Dr offers a unique blend of small-town seaside character and strong investment fundamentals. Known for its walkable streets, oceanfront lifestyle, and relaxed village atmosphere, the community consistently attracts long-term residents, seasonal renters, and tourists. Limited new supply, a predominately low-rise profile, and high barriers to entry support stable demand and long-term value for multifamily and garden-style investors.

The location benefits from close proximity to everyday conveniences and lifestyle amenities, anchored by the Commercial Boulevard corridor, which provides direct access to the mainland and major employment centers. Downtown Fort Lauderdale is only minutes away, offering a robust mix of business districts, healthcare facilities, and cultural destinations. Nearby shopping, dining, and entertainment options enhance the area’s live-work-play appeal and support a diverse, dependable renter base.

Lauderdale-By-The-Sea is defined by its iconic coastal attractions, including Anglin’s Fishing Pier, El Prado Park, and the SS Copenhagen Shipwreck, a well-known snorkeling and diving destination. These attractions generate consistent tourism and seasonal demand throughout the year. Combined with pristine beaches and a strong community identity, the area surrounding the property remains one of South Florida’s most desirable coastal submarkets for long-term multifamily investment.