12-Unit Apartment
For Sale
$1,398,000
1916 Fletcher Street Unit 12, Hollywood, FL 33020
Updated one-story multifamily property with mixed-use zoning, weekly leasing, shared laundry, and courtyard amenities.
Property Size6,375 SF
Price / SF$219.29
Days on Market3044
Property Features for 1916 Fletcher Street Unit 12
General Information
Standard status
Active
Size
6,375 SF
Total Parking Spaces
15
Property subtype
Commercial/Industrial / Income/Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
10 x 1/1, 1 x 2/1, 1 x studio
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$23,850
Amenities
common laundry room
courtyard
Building Details
Year Built
1953
Buildings
1
Stories
1
Listing Agency:
Dezer Platinum Realty LLC
Listed By:
Ariela Chapnik · License #3074972
(305) 932-1000
Source:
Compass
Added: May 4, 2018
Changed: Aug 31
Last Checked: Sep 1 at 11:24PM
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 Dezer Platinum Realty LLC
Investment Insights
Based on property information with market context.
This one-story apartment property contains 12 units configured as 10 one-bedroom/one-bath apartments, one two-bedroom/one-bath apartment, and one studio. The 6,375-square-foot building dates to 1953 and includes a shared laundry room, courtyard, and 15 parking spaces. Units have separate electric meters, while the owner pays water and electric expenses. The property is described as updated and leased on a weekly basis.
The asset occupies three lots at 1916 Fletcher Street, Unit 12, in Hollywood. It is positioned across from Mardi Gras Casino on a quieter street near Pembroke Road, with shops, restaurants, major highways, downtown Hollywood, and the beaches within the surrounding area. Mixed-use zoning adds flexibility to the property's existing multifamily configuration.
The asset occupies three lots at 1916 Fletcher Street, Unit 12, in Hollywood. It is positioned across from Mardi Gras Casino on a quieter street near Pembroke Road, with shops, restaurants, major highways, downtown Hollywood, and the beaches within the surrounding area. Mixed-use zoning adds flexibility to the property's existing multifamily configuration.
Key Highlights
- 12 units: 10 one‑bedroom/one‑bath units, one two‑bedroom/one‑bath unit, and one studio
- 6,375‑square‑foot one‑story building constructed in 1953
- 15 parking spaces across three lots
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
$106,258
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
7.60%
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%
$2,125,160
$2.1M
Cap Rate 7%
$1,517,971
$1.5M
Cap Rate 9%
$1,180,644
$1.2M
Market Conditions
NOI Build-Up for 6,375 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
$202.7K $31.80/SF
− Vacancy
−$9.5K −$1.49/SF
EGI
$193.2K $30.31/SF
− OpEx
−$86.9K −$13.64/SF
NOI
$106.3K $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%
$2,125,160
Cap Rate 7%
$1,517,971
Cap Rate 9%
$1,180,644
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,258 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,573 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,849
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?
Apartment building - Updated one-story multifamily property with mixed-use zoning, weekly leasing, shared laundry, and courtyard amenities.
Where is this apartment building located?
The property is located at 1916 Fletcher Street Unit 12 Hollywood, FL.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: 12 units: 10 one‑bedroom/one‑bath units, one two‑bedroom/one‑bath unit, and one studio; 6,375‑square‑foot one‑story building constructed in 1953; 15 parking spaces across three lots
