Remodeled Three-Unit Multifamily
For Sale
$670,000
1629 Mayo St, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size1,671 SF
Price / SF$400.96
Days on Market134
Property Features for 1629 Mayo St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RS-6
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1
Parking
2
Subdivision
HOLLYWOOD SOUTH SIDE ADD
Lot features
< 1/4 Acre
Standard status
Active
APN
514222092130
Size
1,671 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD SOUTH SIDE ADD 3-16 B LOT 6 BLK 14
Tax Annual Amount
5462
Legal Description
HOLLYWOOD SOUTH SIDE ADD 3-16 B LOT 6 BLK 14
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1964
Floors in Building
1
Flooring type
Marble
Building materials
Block
Roof type
Shingle
Listing Agency:
Yaffe International Realty
(305) 741-0002
Listed By:
Kenia Paz · License #3413886
(315) 278-8574
Added: Apr 17
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# A12001867
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 1,671-square-foot multifamily property contains three independent residences: a two-bedroom, one-bath apartment, a one-bedroom, one-bath apartment, and a separate studio. The main apartments have been remodeled with marble flooring, updated appliances, and abundant natural light. Block construction, central heating, central air, a shingle roof, and public sewer service are also in place.
Built in 1964, the property is located at 1629 Mayo St in Hollywood, Florida, two blocks east of Federal Hwy. Downtown and Hollywood Beach are minutes away. The three-unit configuration provides distinct residential spaces within a single income-producing property.
Built in 1964, the property is located at 1629 Mayo St in Hollywood, Florida, two blocks east of Federal Hwy. Downtown and Hollywood Beach are minutes away. The three-unit configuration provides distinct residential spaces within a single income-producing property.
Key Highlights
- Three independent units: 2/1, 1/1, and a separate studio
- 1,671 square feet of total property size
- Remodeled main apartments with marble floors and updated appliances
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
$29,940
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
4.47%
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%
$598,800
$598.8K
Cap Rate 7%
$427,714
$427.7K
Cap Rate 9%
$332,667
$332.7K
Market Conditions
NOI Build-Up for 1,671 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
$45.1K $27.00/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$42.8K $25.60/SF
− OpEx
−$12.8K −$7.68/SF
NOI
$29.9K $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%
$598,800
Cap Rate 7%
$427,714
Cap Rate 9%
$332,667
Alternative Uses
Best Use
Multifamily LT 5
$427.7K
$374.3K – $499.0K
NOI $29,940 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$397.9K
$348.2K – $464.2K
NOI $27,852 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$653.7K
$572.0K – $762.7K
NOI $45,759 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,534
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?
Multifamily property - Three independent residences include two main apartments and a separate studio.
Where is this multifamily property located?
The property is located at 1629 Mayo St Hollywood, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Three independent units: 2/1, 1/1, and a separate studio; 1,671 square feet of total property size; Remodeled main apartments with marble floors and updated appliances
