EDGEWOOD
MID-CORE ANALYSIS
Multi-Family Real Estate Mid-Core Analysis: 2-20 Units
202 Properties with 548 Units
Comprehensive breakdown of a multi-family investment portfolio spanning 202 properties with a total of 548 rental units, from duplexes to 18-unit complexes.
Peter Dacko
Executive Managing Director of Investments
954.923.2325
954.232.7714
License FL BK0600065
Portfolio Composition Overview
This analysis examines a substantial multi-family real estate portfolio consisting of 202 properties that collectively contain 548 rental units. The portfolio demonstrates a strategic focus on smaller multi-family assets, with duplexes representing the dominant property type.
202
Total Properties
The complete portfolio encompasses 202 distinct multi-family properties spread across various property types.
548
Total Units
These properties collectively contain 548 individual rental units, averaging 2.7 units per property.
7
Property Types
The portfolio includes 7 distinct multi-family property classifications ranging from 2-unit to 18-unit buildings.
Edgewood: A Rising Star for Mid-Core Residential Income Investment
Tucked just south of downtown Fort Lauderdale, the Edgewood neighborhood is quietly emerging as one of the city’s most compelling mid-core residential submarkets. Long appreciated for its proximity to major transit corridors and downtown amenities, Edgewood is now drawing attention for its sharp uptick in property values and growing investor interest in small- to mid-size income-producing assets.
Over the past year, Edgewood has experienced a notable rise in home values, with median sales prices reaching approximately $575,000—a strong 8.5% year-over-year increase. Data from sources like Realtor.com and Redfin further underscore this trend, pointing to consistent gains in both listing and closing prices throughout 2024 and into 2025. Rocket Homes reported a more aggressive annual jump of over 13%, signaling heightened demand from both owner-occupants and multifamily investors alike.
This upward pressure is particularly evident in the Mid-Core segment, where multi-unit buildings are trading at premium per-unit prices. A recent 3plex in the Edgewood area commanded $800,00, or roughly $415,000 per unit—an indicator of the strong investor appetite and the rising performance expectations for cash-flowing assets in this transitioning neighborhood.
Several key factors are fueling this momentum. Edgewood benefits from its close proximity to the Fort Lauderdale Brightline station, part of the high-speed rail corridor connecting Miami to Orlando. Real estate surrounding Brightline stations has seen significant appreciation, with some properties increasing by over 50% in just five years. The area also continues to undergo infill development and value-add renovation projects. Older homes are being razed and replaced with modern construction, contributing to both visual and economic revitalization.
While Edgewood remains one of the last vestiges of “old Florida” character in Fort Lauderdale, it is rapidly evolving. Its streetscape is transforming as young professionals, developers, and income-focused buyers seize on the neighborhood’s strategic location and its balance of affordability and upside potential.
Property Type Distribution
The portfolio shows a clear concentration in duplexes (2plex), which represent 70.3% of all properties. This suggests a deliberate investment strategy focusing on entry-level multi-family assets that typically offer lower per-unit acquisition costs and management complexity compared to larger apartment buildings.
Duplex Dominance: Strategic Advantages
With 142 duplexes comprising over 70% of the portfolio, this property type forms the backbone of the investment strategy. Duplexes typically offer several key advantages for real estate investors:
- Lower barrier to entry with more affordable purchase prices compared to larger multi-family properties
- Simplified management with only two tenants per property
- Flexibility for owner-occupants to live in one unit while renting the other (house hacking)
- Higher cap rates compared to single-family homes in many markets
- Easier financing through conventional residential loans rather than commercial lending
Mid-Size Properties: 3plexes and 4plexes
Triplexes (28 Properties)
Representing 13.9% of the portfolio, these 28 properties contribute 84 total units. Triplexes offer a middle ground between the simplicity of duplexes and the increased income potential of larger properties, while still qualifying for certain residential financing options.
Fourplexes (20 Properties)
With 20 buildings comprising 9.9% of the portfolio, fourplexes add 80 units to the total count. These properties typically maximize the benefits of residential financing while increasing the door count and potential income streams per property.
Larger Multi-Family Properties
While smaller properties dominate the portfolio, it also includes several larger multi-family buildings that contribute significantly to the total unit count despite representing just 5.4% of the properties.
2.9%
5-6 Unit Buildings
The portfolio contains 2 five-unit buildings and 4 six-unit buildings, representing only 2.9% of properties but contributing 34 units (6.2% of total units).
2.0%
8-Unit Buildings
Four 8-unit buildings comprise just 2.0% of the property count but add 32 units to the portfolio (5.8% of total units).
0.5%
Largest Properties
The portfolio includes one 16-unit building and one 18-unit building, which together represent just 1% of properties but contribute 34 units (6.2% of total units).
Unit Distribution Analysis
While the portfolio contains 202 properties, the unit distribution reveals a different perspective on how rental income is generated:
Duplex Units
284 units (51.8% of total)
Triplex Units
84 units (15.3% of total)
Fourplex Units
80 units (14.6% of total)
Larger Complex Units
100 units (18.3% of total)
This analysis reveals that while duplexes dominate the property count (70.3%), they contribute a smaller percentage of the total units (51.8%). Conversely, the few larger properties (11 buildings with 5+ units) contribute a disproportionate 18.3% of the total units.
This balanced approach allows the investor to benefit from the simplicity and financing advantages of smaller properties while leveraging the economies of scale offered by larger complexes for a portion of their portfolio.
Investment Strategy Insights
The composition of this 202-property portfolio reveals a deliberate investment strategy focusing on smaller multi-family assets with a strong emphasis on duplexes. This approach offers several advantages worth considering for your own investment strategy:
Risk Diversification
With 202 separate properties, the portfolio benefits from geographic diversification and reduced vacancy impact. A single vacancy in a duplex affects only 0.18% of the total unit count.
Financing Flexibility
The focus on 2-4 unit properties (94.1% of the portfolio) allows access to residential financing options with more favorable terms than commercial loans required for larger properties.
Exit Strategy Options
Smaller properties offer multiple disposition strategies, including selling to owner-occupants, other investors, or converting to single-family homes in appropriate markets.
Investors considering Edgewood would be wise to target stabilized Mid-Core properties and underutilized parcels zoned for residential income use. However, as with much of South Florida, it’s important to consider environmental factors—particularly the area’s vulnerability to flooding. The city is addressing these concerns through infrastructure upgrades, including new pump systems, but prudent due diligence remains essential.
In summary
Edgewood stands at a unique intersection of growth and opportunity. With double-digit annual value increases, improving infrastructure, and strong rental demand, it offers one of the most promising environments for mid-core income investors seeking a foothold in the Fort Lauderdale market.
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