Duplex Property with Mixed-Use
For Sale
$749,000
2434 Polk St, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size1,265 SF
Lot Size0.22 Acres
Price / SF$592.09
Days on Market53
Property Features for 2434 Polk St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
TC-1
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Parking
4
Window features
Blinds
Subdivision
HOLLYWOOD LITTLE RANCHES
Lot features
< 1/4 Acre
Standard status
Active
APN
514216017050
Size
1,265 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD LITTLE RANCHES 1-26 B LOT 20 E1/2 LESS S 7 1/2 FOR ALLEY BLK 18
Tax Annual Amount
13526
Legal Description
HOLLYWOOD LITTLE RANCHES 1-26 B LOT 20 E1/2 LESS S 7 1/2 FOR ALLEY BLK 18
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1947
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Thomas Bichi · License #3261222
(305) 608-6357
Added: Jul 18
Changed: Sep 2
Last Checked: Sep 8 at 6:06AM
MLS# A12037868
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 property includes 1,265 square feet on a 9,800-square-foot lot in East Hollywood. The building dates to 1947 and features block construction, tile flooring, central heating, electric cooling, and central air. The layout includes three bedrooms and two bathrooms, with public water and a septic tank.
The property is positioned one block from Hollywood Blvd. and within minutes of Downtown Hollywood, the Broadwalk, beaches, the Hard Rock, I-95, and Fort Lauderdale-Hollywood International Airport. TC-1, or Transitional Core, zoning allows mixed-use and commercial uses, giving the site flexibility beyond its current residential configuration.
The property is positioned one block from Hollywood Blvd. and within minutes of Downtown Hollywood, the Broadwalk, beaches, the Hard Rock, I-95, and Fort Lauderdale-Hollywood International Airport. TC-1, or Transitional Core, zoning allows mixed-use and commercial uses, giving the site flexibility beyond its current residential configuration.
Key Highlights
- 9,800‑square‑foot lot with 1,265‑square‑foot duplex property
- TC‑1 zoning allows mixed‑use and commercial uses
- Three bedrooms and two bathrooms
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
$22,665
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
3.03%
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%
$453,300
$453.3K
Cap Rate 7%
$323,786
$323.8K
Cap Rate 9%
$251,833
$251.8K
Market Conditions
NOI Build-Up for 1,265 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
$34.2K $27.00/SF
− Vacancy
−$1.8K −$1.40/SF
EGI
$32.4K $25.60/SF
− OpEx
−$9.7K −$7.68/SF
NOI
$22.7K $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%
$453,300
Cap Rate 7%
$323,786
Cap Rate 9%
$251,833
Alternative Uses
Best Use
Multifamily LT 5
$323.8K
$283.3K – $377.8K
NOI $22,665 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$301.2K
$263.6K – $351.4K
NOI $21,085 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$494.9K
$433.0K – $577.4K
NOI $34,641 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,321
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - TC-1 zoning supports mixed-use and commercial uses.
Where is this duplex located?
The property is located at 2434 Polk St Hollywood, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 9,800‑square‑foot lot with 1,265‑square‑foot duplex property; TC‑1 zoning allows mixed‑use and commercial uses; Three bedrooms and two bathrooms
