Five-Unit Multifamily Income
For Sale
$1,265,000
1743 Rodman St, Hollywood, FL 33020
Five-unit residential income building on a 10,836-square-foot parcel with studio, room, and two-bedroom two-bath layouts.
Property Size2,585 SF
Lot Size0.25 Acres
Price / SF$489.36
Days on Market55
Property Features for 1743 Rodman St
General Information
Standard status
Active
Size
2,585 SF
Lot size
0.25 Acres
Additional Details
Multifamily Units
5
Building Details
Year Built
1955
Listing Agency:
Media Realty
Listed By:
Peter Dacko III · License #0600065
(954) 923-2325
Source:
Chenoregroup
Added: Jul 24
Changed: Sep 13
Last Checked: Sep 15 at 9:43PM
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 Media Realty
Investment Insights
Based on property information with market context.
1743 Rodman Street is a five-unit residential income property on an approximately 10,836-square-foot parcel. The building area is approximately 2,585 square feet and features a distinctive unit mix, including two studio apartments, two individual room units, and a two-bedroom, two-bath residence. This configuration provides flexibility for how the units are leased and operated, including the potential for the larger residence to be occupied by an owner, an on-site manager, or a traditional tenant.
The property is located in Hollywood, Florida, east of Federal Highway, with convenient proximity to Downtown Hollywood and Hollywood Beach. Connectivity throughout the South Florida region is supported by Federal Highway, Hollywood Boulevard, Sheridan Street, Interstate 95, and the Florida Turnpike. The surrounding market includes access to restaurants, retail, entertainment, public transportation, medical services, and employment centers across Broward and Miami-Dade counties.
The relatively low building-to-land ratio may offer flexibility for parking, landscaping, outdoor amenities, building expansion, or redevelopment, subject to zoning, density, parking, building-code, licensing, and other governmental requirements. Prospective purchasers should conduct due diligence on current rents, market rents, expenses, licenses, permits, and the legal status of each unit.
The property is located in Hollywood, Florida, east of Federal Highway, with convenient proximity to Downtown Hollywood and Hollywood Beach. Connectivity throughout the South Florida region is supported by Federal Highway, Hollywood Boulevard, Sheridan Street, Interstate 95, and the Florida Turnpike. The surrounding market includes access to restaurants, retail, entertainment, public transportation, medical services, and employment centers across Broward and Miami-Dade counties.
The relatively low building-to-land ratio may offer flexibility for parking, landscaping, outdoor amenities, building expansion, or redevelopment, subject to zoning, density, parking, building-code, licensing, and other governmental requirements. Prospective purchasers should conduct due diligence on current rents, market rents, expenses, licenses, permits, and the legal status of each unit.
Key Highlights
- Five‑unit residential income property built in 1955, totaling approx. 2,585 SF of building area
- Unit mix includes two studio apartments, two individual room units, and a 2‑bedroom, 2‑bath residence
- Approx. 10,836‑square‑foot parcel located in East Hollywood, east of Federal Highway
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
$43,087
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
3.41%
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%
$861,740
$861.7K
Cap Rate 7%
$615,529
$615.5K
Cap Rate 9%
$478,744
$478.7K
Market Conditions
NOI Build-Up for 2,585 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
$82.2K $31.80/SF
− Vacancy
−$3.9K −$1.49/SF
EGI
$78.3K $30.31/SF
− OpEx
−$35.3K −$13.64/SF
NOI
$43.1K $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%
$861,740
Cap Rate 7%
$615,529
Cap Rate 9%
$478,744
Alternative Uses
Best Use
Apartment 5plus
$615.5K
$538.6K – $718.1K
NOI $43,087 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$884.9K – $1.18M
NOI $70,788 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,714
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit residential income building on a 10,836-square-foot parcel with studio, room, and two-bedroom two-bath layouts.
Where is this apartment building located?
The property is located at 1743 Rodman St Hollywood, FL.
What is the asking price?
The asking price for this property is $1,265,000.
What are key features of this property?
This property features: Five‑unit residential income property built in 1955, totaling approx. 2,585 SF of building area; Unit mix includes two studio apartments, two individual room units, and a 2‑bedroom, 2‑bath residence; Approx. 10,836‑square‑foot parcel located in East Hollywood, east of Federal Highway
