Renovated Corner Lot
1625 Cleveland Street Hollywood, FL 33020
1625 Cleveland Street, Hollywood, FL, 33020
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For Sale
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Renovated triplex with impact windows, tiled flooring, and private patios, currently operated as licensed short-term rentals.
Property Size2,475 SF
Price / SF$383.84
Days on Market150
Property Features for 1625 Cleveland Street
General Information
- Standard status
- Active
- Size
- 2,475 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1953
Listing Agency
Compass Florida, LLC
Listed by
Carlos Saa · License #3376226
Source
Crexi
Added: Feb 20 Checked: Jul 19 at 6:48 am
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 Florida, LLC
Investment Insights
Based on property information with market context.
This East Hollywood triplex is housed in one well maintained building and includes two renovated 3 bedroom/2 bathroom apartments and one renovated 1 bedroom/1 bathroom apartment. Each unit features tiled flooring and impact windows, along with updated kitchen cabinets and quartz countertops. Residents also have access to private front patios.
The property sits on a corner lot, east of US-1, within the Hollywood Lakes area described as a quiet neighborhood. Parking is available for up to seven cars. The building is currently rented and licensed as a short term vacation rental.
For operational use, the current short term vacation rental setup produces an average gross income between $9,000 and $12,000 per month for the two 3/2 units, plus an average of $1,500 per month for the 1/1. Reported annual figures include $133,513 PGI and $40,251 NOI. A mortgage assumption is available at a 3% interest rate. The property is also described as centrally located near beaches, parks, major highways, shops, and restaurants, supporting flexibility for buyers and operators considering short-term or long-term rental strategies.
The property sits on a corner lot, east of US-1, within the Hollywood Lakes area described as a quiet neighborhood. Parking is available for up to seven cars. The building is currently rented and licensed as a short term vacation rental.
For operational use, the current short term vacation rental setup produces an average gross income between $9,000 and $12,000 per month for the two 3/2 units, plus an average of $1,500 per month for the 1/1. Reported annual figures include $133,513 PGI and $40,251 NOI. A mortgage assumption is available at a 3% interest rate. The property is also described as centrally located near beaches, parks, major highways, shops, and restaurants, supporting flexibility for buyers and operators considering short-term or long-term rental strategies.
Key Highlights
- Renovated East Hollywood triplex (built 1953) on a corner lot east of US‑1
- Unit features: impact windows, tiled flooring, and updated kitchen cabinets with quartz countertops
- Includes renovated 2‑3/2 apartments plus one 1‑1/1 apartment, each with access to private front patios
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.8k | $27.00 |
| − Vacancy | −$3.5k | −$1.40 |
| EGI | $63.4k | $25.60 |
| − OpEx | −$19.0k | −$7.68 |
| NOI | $44.3k | $17.92 |
2,475 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$633.5K
$554.3K – $739.1K
NOI $44,345 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$589.3K
$515.7K – $687.6K
NOI $41,253 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$968.2K
$847.2K – $1.13M
NOI $67,775 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Renovated triplex with impact windows, tiled flooring, and private patios, currently operated as licensed short-term rentals.
Where is this triplex located?
The property is located at 1625 Cleveland Street Hollywood, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Renovated East Hollywood triplex (built 1953) on a corner lot east of US‑1; Unit features: impact windows, tiled flooring, and updated kitchen cabinets with quartz countertops; Includes renovated 2‑3/2 apartments plus one 1‑1/1 apartment, each with access to private front patios
