Building Details

Year Built 1955

Stories 5

Listing Agency: United Realty Group Inc

Listed By: Mariya Stoyanova · License #3343472 Show Phone

Source: Compass

Added: Feb 27, 2024 Changed: Oct 16 Last Checked: Oct 16 at 11:05AM

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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 United Realty Group Inc

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Investment Insights

Based on property information with market context.

This 10-unit apartment property contains seven two-bedroom, one-bath residences and three studio, one-bath residences within 4,829 square feet. Five units retain their original condition, while five have been completely renovated. The property was built in 1955 and includes 10 assigned parking spaces, with additional street parking available.

The building is located east of US-1, near Downtown Hollywood and approximately five minutes from the beach. FH-2 zoning allows up to five stories and 55 feet. Property access for tours is subject to an accepted offer, and tenant privacy is requested during the process.

Key Highlights

• 10 units: 7 two‑bedroom/one‑bath and 3 studio/one‑bath apartments
• 4,829 square feet; built in 1955
• Five original units and five completely renovated units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,490

Cap Rate

4.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,609,800 $1.6M

Cap Rate 7%

$1,149,857 $1.1M

Cap Rate 9%

$894,333 $894.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,829 SF

Gross rent

$153.6K $31.80/SF

− Vacancy

−$7.2K −$1.49/SF

EGI

$146.3K $30.31/SF

− OpEx

−$65.9K −$13.64/SF

NOI

$80.5K $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%

$1,609,800

Cap Rate 7%

$1,149,857

Cap Rate 9%

$894,333

Alternative Uses

Best Use

Apartment 5plus

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,490 @ 7.0% cap · market cap 4.13%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.89M

$1.65M – $2.20M (±1% cap)

NOI $132,237 @ 7.0% cap · market cap 6.78%

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 (Bike/Boat/Book/etc) Store Clothing & Fashion Store Restaurant Locksmith 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

10

Residential units

Location Intelligence

Trade Area within ½ mile

1,254

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 - Multifamily property with a mix of two-bedroom and studio apartments, assigned parking, and FH-2 zoning.

Where is this apartment building located?

The property is located at 1323 North Federal Highway Unit 110 Hollywood, FL.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: 10 units: 7 two‑bedroom/one‑bath and 3 studio/one‑bath apartments; 4,829 square feet; built in 1955; Five original units and five completely renovated units