Duplex with Four-Car
For Sale
Contact for pricing
1512 N 23rd Ave, Hollywood, FL 33020
Two-unit property with separate laundry rooms, individual utility meters, and one vacant residence ready for occupancy.
Property Size1,672 SF
Price / SF$287.08
Days on Market144
Property Features for 1512 N 23rd Ave
General Information
Standard status
Active
Size
1,672 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
DH-1
Property Condition
Severity
Repairs Needed
Evidence
fixer-upper
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$15,600
Amenities
individual laundry rooms
Building Details
Year Built
1946
Buildings
1
Units
2
Listing Agency:
Pandora Realty
Listed By:
Ana Cardoso · License #3246625
Source:
Crexi
Added: Apr 17
Changed: Aug 30
Last Checked: Sep 5 at 2:31PM
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 Pandora Realty
Investment Insights
Based on property information with market context.
This 1672-square-foot duplex, built in 1946, contains two separate residences. The first unit has two bedrooms and one bathroom and is vacant, while the second includes one bedroom and one bathroom and is occupied. Each unit has its own laundry room, with separate water and electric meters serving the residences. A four-car carport adds covered parking to the property.
Positioned on a corner lot at 1512 N 23rd Ave in Hollywood, the property is near I-95 and carries DH-1 zoning. The layout provides distinct living spaces within a compact multifamily asset, with one unit available for immediate occupancy and the other currently leased.
Positioned on a corner lot at 1512 N 23rd Ave in Hollywood, the property is near I-95 and carries DH-1 zoning. The layout provides distinct living spaces within a compact multifamily asset, with one unit available for immediate occupancy and the other currently leased.
Key Highlights
- Two‑unit duplex with 1672 square feet of property size
- Unit 1: two bedrooms, one bathroom, and currently vacant
- Unit 2: one bedroom, one bathroom, and currently occupied
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
$29,958
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
6.24%
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%
$599,160
$599.2K
Cap Rate 7%
$427,971
$428.0K
Cap Rate 9%
$332,867
$332.9K
Market Conditions
NOI Build-Up for 1,672 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
$45.1K $27.00/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$42.8K $25.60/SF
− OpEx
−$12.8K −$7.68/SF
NOI
$30.0K $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%
$599,160
Cap Rate 7%
$427,971
Cap Rate 9%
$332,867
Alternative Uses
Best Use
Multifamily LT 5
$428.0K
$374.5K – $499.3K
NOI $29,958 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$398.1K
$348.4K – $464.5K
NOI $27,869 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$654.1K
$572.3K – $763.1K
NOI $45,786 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,320
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate laundry rooms, individual utility meters, and one vacant residence ready for occupancy.
Where is this duplex located?
The property is located at 1512 N 23rd Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Two‑unit duplex with 1672 square feet of property size; Unit 1: two bedrooms, one bathroom, and currently vacant; Unit 2: one bedroom, one bathroom, and currently occupied
