Brand-New Fully Leased
For Sale
$1,299,000
2320 Garfield Street, Hollywood, FL 33020
Brand-new, fully leased fourplex with six marked parking spaces and four rental units.
Property Size2,700 SF
Price / SF$481.11
Days on Market119
Property Features for 2320 Garfield Street
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
DH-1
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$19,237
Building Details
Building Size
2,700 SF
Year Built
2024
Stories
2
Listing Agency:
Sustainable RE, LLC.
Listed By:
Pedro Barbosa · License #3415618
(305) 450-3652
Source:
Laerrealty
Added: May 8
Changed: Aug 28
Last Checked: Sep 2 at 1:56PM
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 Sustainable RE, LLC.
Investment Insights
Based on property information with market context.
This brand-new fourplex is approximately one year old and is offered fully leased. The property consists of four rental units, with each unit earning between $2,160 and $2,260. With a total of six parking spaces on site, the spaces are marked to allow assignment as the owner sees fit.
The property is located at 2320 Garfield St in Hollywood, Florida. It is presented for sale as a low-maintenance, income-producing residential income asset with dedicated parking for tenants.
For investors and owner-users looking for a turn-key, occupied four-unit configuration, this building provides a straightforward fourplex layout with parking capacity clearly defined across six spaces.
The property is located at 2320 Garfield St in Hollywood, Florida. It is presented for sale as a low-maintenance, income-producing residential income asset with dedicated parking for tenants.
For investors and owner-users looking for a turn-key, occupied four-unit configuration, this building provides a straightforward fourplex layout with parking capacity clearly defined across six spaces.
Key Highlights
- Year built 2024: brand‑new fourplex
- Fully leased with 4 rental units
- Rents range from $2,160 to $2,260 per unit
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
$48,376
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
3.72%
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%
$967,520
$967.5K
Cap Rate 7%
$691,086
$691.1K
Cap Rate 9%
$537,511
$537.5K
Market Conditions
NOI Build-Up for 2,700 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
$72.9K $27.00/SF
− Vacancy
−$3.8K −$1.40/SF
EGI
$69.1K $25.60/SF
− OpEx
−$20.7K −$7.68/SF
NOI
$48.4K $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%
$967,520
Cap Rate 7%
$691,086
Cap Rate 9%
$537,511
Alternative Uses
Best Use
Multifamily LT 5
$691.1K
$604.7K – $806.3K
NOI $48,376 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$642.9K
$562.6K – $750.1K
NOI $45,004 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.06M
$924.2K – $1.23M
NOI $73,937 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,522
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?
Quadplex - Brand-new, fully leased fourplex with six marked parking spaces and four rental units.
Where is this quadplex located?
The property is located at 2320 Garfield Street Hollywood, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Year built 2024: brand‑new fourplex; Fully leased with 4 rental units; Rents range from $2,160 to $2,260 per unit
