Updated Duplex with Furnished
For Sale
Under Contract
$685,000
316 N 61st Ave, Hollywood, FL 33024
Residential Income, Hollywood, FL
Property Size1,567 SF
Price / SF$437.14
Days on Market48
Property Features for 316 N 61st Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
C-MU
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4
Parking
4
Subdivision
GRACEWOOD NO 2
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
514113060660
Size
1,567 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
GRACEWOOD NO 2 24-33 B LOT 43 BLK 4
Tax Annual Amount
10926
Legal Description
GRACEWOOD NO 2 24-33 B LOT 43 BLK 4
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1989
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP Realty South LLC
(888) 883-8509
Listed By:
Romain Liberman · License #3542176
(786) 425-7774
Added: Jul 22
Changed: Sep 6
Last Checked: Sep 7 at 3:06AM
MLS# A12055620
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 1,567-square-foot duplex, built in 1989, contains two 2-bedroom, 1-bath residences. Both units feature updated kitchens and bathrooms, vinyl and tile flooring, zebra shades, hurricane-impact windows and doors, and full-size washers and dryers. The front residence is furnished and vacant, while the rear residence is leased. Central air-conditioning systems were installed in 2021, and the water heaters date to 2022 and 2023. The building is constructed of block and is served by a septic tank.
The property is located in Hollywood near Downtown Hollywood, Memorial Regional Hospital, Hard Rock Hotel & Casino, major highways, shopping, dining, and Hollywood Beach. There is no HOA, and the property is offered as-is.
The property is located in Hollywood near Downtown Hollywood, Memorial Regional Hospital, Hard Rock Hotel & Casino, major highways, shopping, dining, and Hollywood Beach. There is no HOA, and the property is offered as-is.
Key Highlights
- 1,567‑square‑foot duplex with two 2‑bedroom, 1‑bath residences
- Front unit is furnished and vacant; rear unit is leased
- Hurricane‑impact windows and doors in both units
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
$28,076
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
4.10%
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%
$561,520
$561.5K
Cap Rate 7%
$401,086
$401.1K
Cap Rate 9%
$311,956
$312.0K
Market Conditions
NOI Build-Up for 1,567 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
$42.3K $27.00/SF
− Vacancy
−$2.2K −$1.40/SF
EGI
$40.1K $25.60/SF
− OpEx
−$12.0K −$7.68/SF
NOI
$28.1K $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%
$561,520
Cap Rate 7%
$401,086
Cap Rate 9%
$311,956
Alternative Uses
Best Use
Multifamily LT 5
$401.1K
$351.0K – $467.9K
NOI $28,076 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$373.1K
$326.5K – $435.3K
NOI $26,119 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$613.0K
$536.4K – $715.2K
NOI $42,911 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 33024, FL
74,843
Population
26,552
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
11.6 sq mi
ZIP Area
6,452
Density / Sq Mi
$76,501
Median Household Income
$38,144
Median Earnings
$1,724
Median Rent
$365,200
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 - Two updated residences include modern kitchens, refreshed baths, and separate full-size laundry appliances.
Where is this duplex located?
The property is located at 316 N 61st Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 1,567‑square‑foot duplex with two 2‑bedroom, 1‑bath residences; Front unit is furnished and vacant; rear unit is leased; Hurricane‑impact windows and doors in both units
