Remodeled Hollywood Fourplex Near
For Sale
$989,000
2432 Sherman St, Hollywood, FL 33020
Fully remodeled fourplex near the beach, ideal for investors.
Property Size2,016 SF
Days on Market128
Property Features for 2432 Sherman St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$16,327
Building Details
Building Size
2,016 SF
Year Built
1972
Units
4
Listing Agency:
Fidelity Real Estate Group LLC
(954) 234-7653
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Elliman
Added: Apr 24
Changed: Aug 15
Last Checked: Aug 28 at 6:27PM
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 Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This Hollywood fourplex, remodeled in 2022, is located near the beach. The building comprises two 2-bedroom, 1-bath units and two studio apartments. The remodel included new electric panels, a roof, hurricane impact windows, insulation, and waterproof vinyl flooring. The two-bedroom units have central A/C, while the studios feature split mini A/Cs. All kitchens are equipped with wood cabinets, stainless steel appliances, and quartz countertops. Washer and dryer hookups are available, offering the potential for coin-operated machines to generate additional income. The property is suitable for owner-occupants, investors, or Airbnb ventures. The projected annual gross income is $88,800, with annual expenses of $28,307, including $16,327 in taxes, $600 for landscaping, $5,500 for insurance, $1,080 for water, and $4,800 for electricity. The property has a bike score of 67, indicating it is bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 41, indicating some transit options are available.
Key Highlights
- Fully remodeled in 2022 with new electric panels, roof, hurricane impact windows, insulation, waterproof vinyl flooring, kitchens, and A/C units.
- Four units: two 2‑bedroom/1‑bath and two studios.
- Projected annual gross income of $88,800.
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
$36,121
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
3.65%
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%
$722,420
$722.4K
Cap Rate 7%
$516,014
$516.0K
Cap Rate 9%
$401,344
$401.3K
Market Conditions
NOI Build-Up for 2,016 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
$54.4K $27.00/SF
− Vacancy
−$2.8K −$1.40/SF
EGI
$51.6K $25.60/SF
− OpEx
−$15.5K −$7.68/SF
NOI
$36.1K $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%
$722,420
Cap Rate 7%
$516,014
Cap Rate 9%
$401,344
Alternative Uses
Best Use
Multifamily LT 5
$516.0K
$451.5K – $602.0K
NOI $36,121 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$480.0K
$420.0K – $560.1K
NOI $33,603 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$788.7K
$690.1K – $920.1K
NOI $55,206 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,752
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?
Quadplex - Fully remodeled fourplex near the beach, ideal for investors.
Where is this quadplex located?
The property is located at 2432 Sherman St Hollywood, FL.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Fully remodeled in 2022 with **new electric panels, roof, hurricane impact windows, insulation, waterproof vinyl flooring, kitchens, and A/C units.**; Four units: two 2‑bedroom/1‑bath and two studios.; Projected annual gross income of $88,800.
