Three-Unit Multifamily
New
For Sale
$825,000
1602 S 17th Avenue, Hollywood, FL 33020
MULTI_FAMILY - Hollywood, FL
Property Size2,424 SF
Price / SF$340.35
Days on Market5
Property Features for 1602 S 17th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
FH-1
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Pets allowed
No, Yes
Subdivision
HOLLYWOOD SOUTH SIDE ADD
Elementary school
Hollywood Central
Middle school
Olsen
High school
South Broward
Standard status
Active
APN
514222090100
Size
2,424 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD SOUTH SIDE ADD 3-16 B LOT 16 BLK 1
Tax Annual Amount
12432
Legal Description
HOLLYWOOD SOUTH SIDE ADD 3-16 B LOT 16 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
laundry facilities
Building Details
Year built
1948
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile
Roof type
Shingle
Listing Agency:
Compass Florida, LLC
(954) 477-7332
Listed By:
Rachel C Buemi · License #3407253
(352) 414-9618
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 6:06AM
MLS# B26063158
Copyright © 2026 BeachesMLS. 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 2,424-square-foot triplex contains three separate residences with distinct configurations. One unit offers two bedrooms, one bathroom, a kitchen, living room, and Florida room. The second is a studio with one bathroom, while the largest residence includes two bedrooms, one bathroom, living and dining areas, and a kitchen. The property also includes laundry facilities connected at the rear and parking for each unit.
All three residences are leased on a month-to-month basis, with the third unit currently occupied by the owner. The building was constructed in 1948 and has laminate and tile flooring, window or wall/window cooling, a shingle roof, public water, and public sewer. FH-1 zoning is listed, along with single-family and bed-and-breakfast use classifications.
All three residences are leased on a month-to-month basis, with the third unit currently occupied by the owner. The building was constructed in 1948 and has laminate and tile flooring, window or wall/window cooling, a shingle roof, public water, and public sewer. FH-1 zoning is listed, along with single-family and bed-and-breakfast use classifications.
Key Highlights
- Three‑unit triplex totaling 2,424 square feet
- Unit mix includes a 2‑bedroom/1‑bath unit, studio, and second 2‑bedroom/1‑bath unit
- Month‑to‑month leases across the property; third unit is currently owner 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
$43,431
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
5.26%
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%
$868,620
$868.6K
Cap Rate 7%
$620,443
$620.4K
Cap Rate 9%
$482,567
$482.6K
Market Conditions
NOI Build-Up for 2,424 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
$65.4K $27.00/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$62.0K $25.60/SF
− OpEx
−$18.6K −$7.68/SF
NOI
$43.4K $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%
$868,620
Cap Rate 7%
$620,443
Cap Rate 9%
$482,567
Alternative Uses
Best Use
Multifamily LT 5
$620.4K
$542.9K – $723.9K
NOI $43,431 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$577.2K
$505.0K – $673.4K
NOI $40,403 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$948.3K
$829.7K – $1.11M
NOI $66,379 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,242
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?
Triplex - Triplex with varied unit layouts, shared laundry, and parking serving all three residences.
Where is this triplex located?
The property is located at 1602 S 17th Avenue Hollywood, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 2,424 square feet; Unit mix includes a 2‑bedroom/1‑bath unit, studio, and second 2‑bedroom/1‑bath unit; Month‑to‑month leases across the property; third unit is currently owner occupied
