Quadplex Development
For Sale
$1,000,000
2127 Polk Street, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size2,158 SF
Lot Size0.40 Acres
Price / SF$463.39
Days on Market491
Property Features for 2127 Polk Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1
Patio and Porch features
Porch
Exterior features
Balcony
Subdivision
Hollywood Little Ranches
Directions
Sheridan St to N Dixie Hwy. Turn south till Polk 2 blocks north of Hollywood Blvd.
Standard status
Active
APN
514216100051
Size
2,158 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A SUB OF LOTS 1 & 2 OF BLK E HOLLYWOOD LITTLE RANCHES 3-19 B LOT 6
Tax Annual Amount
11334
Legal Description
A SUB OF LOTS 1 & 2 OF BLK E HOLLYWOOD LITTLE RANCHES 3-19 B LOT 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s), Electric
Building Details
Year built
1954
Floors in Building
1
Number of units
4
Flooring type
Tile, Terrazzo
Building materials
Block
Roof type
Tile, Barrel
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Tina N Levinger · License #3022815
(954) 675-1845
Added: May 8, 2025
Changed: Sep 10
Last Checked: Sep 10 at 10:06PM
MLS# F10502624
Copyright © 2026 BeachesMLS. 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 quadplex property includes three side-by-side parcels with separate folio numbers, creating a combined 17,262-square-foot site. The existing 2,158-square-foot improvement was built in 1954 with block construction, tile and terrazzo flooring, a tile barrel roof, balcony, porch, and four bedrooms with four bathrooms. Cooling includes electric and window or wall/window units.
The property is located on Polk Street in Hollywood, Broward County, with public sewer service and cable availability. DH-3 zoning is identified as high-density, mixed-use zoning, with a stated 40-unit development concept and potential for a vertical project reaching up to 140 feet and 10 stories. The listed zoning uses also include self-storage, hotel, amusement, and automotive sales.
The property is located on Polk Street in Hollywood, Broward County, with public sewer service and cable availability. DH-3 zoning is identified as high-density, mixed-use zoning, with a stated 40-unit development concept and potential for a vertical project reaching up to 140 feet and 10 stories. The listed zoning uses also include self-storage, hotel, amusement, and automotive sales.
Key Highlights
- Combined 17,262‑square‑foot site formed by 3 adjacent lots with separate folio numbers
- DH‑3 high‑density, mixed‑use zoning
- 40‑unit development concept identified in the listing
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
$38,665
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
3.87%
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%
$773,300
$773.3K
Cap Rate 7%
$552,357
$552.4K
Cap Rate 9%
$429,611
$429.6K
Market Conditions
NOI Build-Up for 2,158 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
$58.3K $27.00/SF
− Vacancy
−$3.0K −$1.40/SF
EGI
$55.2K $25.60/SF
− OpEx
−$16.6K −$7.68/SF
NOI
$38.7K $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%
$773,300
Cap Rate 7%
$552,357
Cap Rate 9%
$429,611
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.3K – $644.4K
NOI $38,665 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$513.8K
$449.6K – $599.5K
NOI $35,969 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$844.2K
$738.7K – $984.9K
NOI $59,095 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,633
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three adjoining parcels support multifamily redevelopment under DH-3 high-density, mixed-use zoning.
Where is this quadplex located?
The property is located at 2127 Polk Street Hollywood, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Combined 17,262‑square‑foot site formed by 3 adjacent lots with separate folio numbers; DH‑3 high‑density, mixed‑use zoning; 40‑unit development concept identified in the listing
