6-Unit Apartment
New
For Sale
$1,295,000
1111 N 22nd Ave, Hollywood, FL 33020
A six-unit rental property offers a mix of one-bedroom, two-bedroom, and studio residences.
Property Size7,030 SF
Days on Market3
Property Features for 1111 N 22nd Ave
General Information
Standard status
Active
Size
7,030 SF
Property subtype
Investment
Units
Unit Mix
2 x 2bed/1bath, 2 x 1 bed/1bath, 2 x Studio
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,278
Building Details
Building Size
7,030 SF
Year Built
1925
Stories
1
Listing Agency:
Sell It Realty, LLC.
Listed By:
Adi Gal · License #A12066869
(305) 409-1305
Source:
Elliman
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 25 at 2:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sell It Realty, LLC.
Investment Insights
Based on property information with market context.
This six-unit apartment property includes two two-bedroom, one-bath residences, two one-bedroom, one-bath residences, and two studios. The roof was updated 10 years ago, and plumbing and electrical systems have also been updated. The horizontal sewer line has been replaced. The building dates to 1925.
At 1111 N 22nd Ave in Hollywood, the property has a Walk Score of 58, a Bike Score of 53, and a Transit Score of 38.
At 1111 N 22nd Ave in Hollywood, the property has a Walk Score of 58, a Bike Score of 53, and a Transit Score of 38.
Key Highlights
- Six apartments: two 2‑bedroom/1‑bath units, two 1‑bedroom/1‑bath units, and two studios
- Roof updated 10 years ago
- Plumbing and electrical systems updated; horizontal sewer line replaced
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
$117,176
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
9.05%
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%
$2,343,520
$2.3M
Cap Rate 7%
$1,673,943
$1.7M
Cap Rate 9%
$1,301,956
$1.3M
Market Conditions
NOI Build-Up for 7,030 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
$223.6K $31.80/SF
− Vacancy
−$10.5K −$1.49/SF
EGI
$213.0K $30.31/SF
− OpEx
−$95.9K −$13.64/SF
NOI
$117.2K $16.67/SF
Area
Hollywood, FL
Vacancy
4.70%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,343,520
Cap Rate 7%
$1,673,943
Cap Rate 9%
$1,301,956
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $117,176 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,510 @ 7.0% cap · market cap 14.87%
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
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,831
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?
Apartment building - A six-unit rental property offers a mix of one-bedroom, two-bedroom, and studio residences.
Where is this apartment building located?
The property is located at 1111 N 22nd Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Six apartments: two 2‑bedroom/1‑bath units, two 1‑bedroom/1‑bath units, and two studios; Roof updated 10 years ago; Plumbing and electrical systems updated; horizontal sewer line replaced
