Updated Duplex with Gated
For Sale
Contact for pricing
1123 N 17th Avenue, Hollywood, FL 33020
Two renovated units with in-unit laundry, patio, and a large gated yard plus parking for strong day-to-day livability.
Property Size1,540 SF
Price / SF$568.18
Days on Market516
Property Features for 1123 N 17th Avenue
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multifamily
Zoning
RM-12
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1969
Units
2
Tenancy
Multi
Listing Agency:
Premier Brokers International
(321) 961-0109
Listed By:
Anna Gadaleta · License #3062315
Source:
Crexi
Added: Mar 23, 2025
Changed: Aug 18
Last Checked: Aug 19 at 12:28AM
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 Premier Brokers International
Investment Insights
Based on property information with market context.
This updated duplex includes two separate residential units. Unit 1 features two bedrooms and one bathroom with an updated kitchen and bathroom, ceramic tile throughout, and a washer and dryer in the unit. Unit 2 offers one bedroom and one bathroom, also with an updated kitchen and bathroom and ceramic tile throughout, and includes a patio plus an in-unit washer and dryer.
The property is centrally located in Hollywood and provides easy access to I-95 and the Florida Turnpike. It is described as being within minutes of Hollywood Beach and within walking distance to shopping. The remarks also note the property sits centrally between three casinos and local hospitals.
The layout supports a straightforward income-residential use with two independently configured units. Each unit includes practical updates and in-unit laundry, while the duplex also offers plenty of parking and a large gated yard that can be valuable for resident comfort and day-to-day use.
The property is centrally located in Hollywood and provides easy access to I-95 and the Florida Turnpike. It is described as being within minutes of Hollywood Beach and within walking distance to shopping. The remarks also note the property sits centrally between three casinos and local hospitals.
The layout supports a straightforward income-residential use with two independently configured units. Each unit includes practical updates and in-unit laundry, while the duplex also offers plenty of parking and a large gated yard that can be valuable for resident comfort and day-to-day use.
Key Highlights
- Duplex built in 1969 with two renovated units featuring updated kitchens and bathrooms
- Unit 1: 2 bed, 1 bath with updated kitchen and bathroom and washer/dryer in unit
- Unit 2: 1 bed, 1 bath with updated kitchen and bathroom, washer/dryer in unit, plus a patio
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
$27,592
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
3.15%
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%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 1,540 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
$41.6K $27.00/SF
− Vacancy
−$2.2K −$1.40/SF
EGI
$39.4K $25.60/SF
− OpEx
−$11.8K −$7.68/SF
NOI
$27.6K $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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Multifamily LT 5
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$366.7K
$320.9K – $427.8K
NOI $25,669 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$602.4K
$527.1K – $702.9K
NOI $42,171 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,614
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?
Duplex - Two renovated units with in-unit laundry, patio, and a large gated yard plus parking for strong day-to-day livability.
Where is this duplex located?
The property is located at 1123 N 17th Avenue Hollywood, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Duplex built in 1969 with two renovated units featuring updated kitchens and bathrooms; Unit 1: 2 bed, 1 bath with updated kitchen and bathroom and washer/dryer in unit; Unit 2: 1 bed, 1 bath with updated kitchen and bathroom, washer/dryer in unit, plus a patio
