Duplex With Corner Lot for 5
For Sale
$725,000
1309 N 24th Ave, Hollywood, FL 33020
MULTI_FAMILY - Hollywood, FL
Property Size1,614 SF
Lot Size0.33 Acres
Price / SF$449.19
Days on Market75
Property Features for 1309 N 24th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
DH-1
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 3
Parking
4
Window features
Blinds
Patio and Porch features
Patio, Porch
Exterior features
Porch, Patio, Shed
Subdivision
HOLLYWOOD PARK
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
514209054080
Size
1,614 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HOLLYWOOD PARK 4-19 B LOT 9,10 BLK 27
Tax Annual Amount
9983
Legal Description
HOLLYWOOD PARK 4-19 B LOT 9,10 BLK 27
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Block
Roof type
Flat, Tile
Listing Agency:
Realty Home Advisors Inc
(561) 613-0393
Listed By:
Tanya Tsveyer · License #3030816
(954) 818-0760
Added: Jun 3
Changed: Aug 4
Last Checked: Aug 16 at 12:06AM
MLS# A11902829
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex sits on an oversized corner lot and includes current rental income, with both units listed as rented. The development concept includes pre-approved plans for 5 townhomes, with architectural plans prepared for PACO presentation. The property is described as a block construction home with a mix of laminate and ceramic tile flooring, plus central electric heating and central air conditioning powered electrically. The home’s roof is noted as tile and flat, and exterior features include a porch, patio, and shed.
The property is located in Hollywood, Florida, conveniently between Fort Lauderdale and Miami, with the Hollywood Beach described as less than 3.5 miles away and downtown Hollywood Circle noted as a minutes drive.
Utilities are provided via public water and a septic tank sewer system.
The property is located in Hollywood, Florida, conveniently between Fort Lauderdale and Miami, with the Hollywood Beach described as less than 3.5 miles away and downtown Hollywood Circle noted as a minutes drive.
Utilities are provided via public water and a septic tank sewer system.
Key Highlights
- Oversized corner lot measuring 14,518 SF
- Pre‑approved plans for 5 townhomes with PACO presentation‑ready architectural plans
- Both units currently rented for immediate income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,918
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,360
$578.4K
Cap Rate 7%
$413,114
$413.1K
Cap Rate 9%
$321,311
$321.3K
Market Conditions
NOI Build-Up for 1,614 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.6K $27.00/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$41.3K $25.60/SF
− OpEx
−$12.4K −$7.68/SF
NOI
$28.9K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,360
Cap Rate 7%
$413,114
Cap Rate 9%
$321,311
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,918 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$384.3K
$336.3K – $448.4K
NOI $26,902 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$631.4K
$552.5K – $736.6K
NOI $44,198 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,391
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on an oversized corner lot with pre-approved plans for 5 townhomes and both units currently rented.
Where is this duplex located?
The property is located at 1309 N 24th Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Oversized corner lot measuring 14,518 SF; Pre‑approved plans for 5 townhomes with PACO presentation‑ready architectural plans; Both units currently rented for immediate income
