Triplex with On-Site
New
For Sale
$825,000
1602 S 17th Ave 1-3, Hollywood, FL 33020
Three residential units offer varied layouts, connected laundry facilities, and month-to-month occupancy arrangements.
Property Size2,424 SF
Days on Market6
Property Features for 1602 S 17th Ave 1-3
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Investment
Zoning
Single Family and Bed and Breakfast
Units
Unit Mix
2 x 2BR/1BA, 1 x studio/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,431
Amenities
laundry facilities
Building Details
Building Size
2,424 SF
Year Built
1948
Units
2
Tenancy
Multi
Listing Agency:
Compass
(352) 414-9618
Listed By:
Rachel C Buemi · License #3407253
(352) 414-9618
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 18 at 7:57AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1948, this triplex contains three residential units with distinct layouts. Unit 1 is a two-bedroom, one-bath residence with a kitchen, living room, and Florida room. Unit 2 is a studio with one bathroom. The largest residence, Unit 3, includes two bedrooms, one bathroom, a living area, dining area, and kitchen; it is currently owner occupied. Connected laundry facilities are located at the rear of the property, and parking is provided for all three units.
The property is in Hollywood, Florida, and is zoned for single-family use and bed and breakfast use. All leases are structured on a month-to-month basis. Walk Score is 50, Bike Score is 59, and Transit Score is 27.
The property is in Hollywood, Florida, and is zoned for single-family use and bed and breakfast use. All leases are structured on a month-to-month basis. Walk Score is 50, Bike Score is 59, and Transit Score is 27.
Key Highlights
- Three‑unit property with two 2‑bedroom residences and one studio
- Unit 1 includes a kitchen, living room, and Florida room
- Unit 3 is the largest residence and 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
1,373
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 - Three residential units offer varied layouts, connected laundry facilities, and month-to-month occupancy arrangements.
Where is this triplex located?
The property is located at 1602 S 17th Ave 1-3 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 property with two 2‑bedroom residences and one studio; Unit 1 includes a kitchen, living room, and Florida room; Unit 3 is the largest residence and is currently owner occupied
