Building Details

Year Built 1956

Listing Agency: Green Lands Realty

Listed By: Laura Sanchez · License #3200886 Show Phone

Source: Compass

Added: Mar 14, 2024 Changed: Oct 13 Last Checked: Oct 15 at 1:46AM

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Investment Insights

Based on property information with market context.

This 7-unit apartment property is occupied at 100% under annual leases and includes a practical unit mix: 6 one-bedroom, one-bath residences and 1 two-bedroom, one-bath residence. Separate electricity meters serve each unit, while residents also pay a monthly water surcharge in addition to rent.

Located at 2300 Douglas St in Hollywood, FL, the property is within an opportunity zone. The asset carries an approximate 5.63% cap rate and offers an established multifamily configuration with clearly defined utility metering and recurring lease terms.

Key Highlights

• 7‑unit multifamily property with 100% occupancy
• Unit mix includes 6 one‑bedroom/one‑bath units and 1 two‑bedroom/one‑bath unit
• Annual leases in place across the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,372

Cap Rate

3.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,267,440 $1.3M

Cap Rate 7%

$905,314 $905.3K

Cap Rate 9%

$704,133 $704.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,802 SF

Gross rent

$120.9K $31.80/SF

− Vacancy

−$5.7K −$1.49/SF

EGI

$115.2K $30.31/SF

− OpEx

−$51.8K −$13.64/SF

NOI

$63.4K $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 Rate 5%

$1,267,440

Cap Rate 7%

$905,314

Cap Rate 9%

$704,133

Alternative Uses

Best Use

Apartment 5plus

$905.3K

$792.2K – $1.06M (±1% cap)

NOI $63,372 @ 7.0% cap · market cap 3.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,114 @ 7.0% cap · market cap 5.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Daycare Center Butcher Catering Service Pet Grooming Service Acupuncture Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

1,391

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully occupied mix of one- and two-bedroom units with individual electric metering.

Where is this apartment building located?

The property is located at 2300 Douglas Street Hollywood, FL.

What is the asking price?

The asking price for this property is $1,999,900.

What are key features of this property?

This property features: 7‑unit multifamily property with 100% occupancy; Unit mix includes 6 one‑bedroom/one‑bath units and 1 two‑bedroom/one‑bath unit; Annual leases in place across the property