Duplex with Townhome
For Sale
$675,000
1309 N 24th Ave, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size1,614 SF
Lot Size0.33 Acres
Price / SF$418.22
Days on Market78
Property Features for 1309 N 24th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
DH-1
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
4
Window features
Blinds
Patio and Porch features
Patio, Porch
Exterior features
Porch, Patio, Shed
Subdivision
HOLLYWOOD PARK
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
514209054080
Size
1,614 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD PARK 4-19 B LOT 9,10 BLK 27
Tax Annual Amount
10679
Legal Description
HOLLYWOOD PARK 4-19 B LOT 9,10 BLK 27
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
Realty Home Advisors Inc
(561) 613-0393
Listed By:
Tanya Tsveyer · License #3030816
(954) 818-0760
Added: Jul 18
Changed: Sep 29
Last Checked: Oct 3 at 7:06AM
MLS# A11902829
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,614 square feet and dates to 1925. The property is built with block construction and includes tile and laminate flooring, central heating and cooling, a porch, patio, and shed. Public water service and a septic tank are in place.
The 14,518-square-foot corner lot includes plans for five townhomes, each designed with 2 bedrooms plus a den and 2.5 bathrooms. The plans are pre-approved, with architectural materials prepared for PACO presentation. Both existing units are currently rented. The property is located in Hollywood, less than 3.5 miles from Hollywood Beach and within a short drive of Downtown Hollywood Circle.
The 14,518-square-foot corner lot includes plans for five townhomes, each designed with 2 bedrooms plus a den and 2.5 bathrooms. The plans are pre-approved, with architectural materials prepared for PACO presentation. Both existing units are currently rented. The property is located in Hollywood, less than 3.5 miles from Hollywood Beach and within a short drive of Downtown Hollywood Circle.
Key Highlights
- 14,518‑square‑foot oversized corner lot
- Existing duplex measures 1,614 square feet
- Both units are currently rented
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
$28,918
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
4.28%
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%
$578,360
$578.4K
Cap Rate 7%
$413,114
$413.1K
Cap Rate 9%
$321,311
$321.3K
Market Conditions
NOI Build-Up for 1,614 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
$43.6K $27.00/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$41.3K $25.60/SF
− OpEx
−$12.4K −$7.68/SF
NOI
$28.9K $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%
$578,360
Cap Rate 7%
$413,114
Cap Rate 9%
$321,311
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,918 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$384.3K
$336.3K – $448.4K
NOI $26,902 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$631.4K
$552.5K – $736.6K
NOI $44,198 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,230
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two rented units occupy a corner-lot property with plans for five townhomes.
Where is this duplex located?
The property is located at 1309 N 24th Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 14,518‑square‑foot oversized corner lot; Existing duplex measures 1,614 square feet; Both units are currently rented
