Remodeled Income
For Sale
$670,000
1629 Mayo Street, Hollywood, FL 33020
Remodeled income property with three independent units, including two main units plus a separate studio.
Property Size1,671 SF
Price / SF$400.96
Days on Market285
Property Features for 1629 Mayo Street
General Information
Standard status
Active
Size
1,671 SF
Property subtype
Residential Income / Duplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,462
Building Details
Year Built
1964
Listing Agency:
Yaffe International Realty
Listed By:
Kenia Paz · License #3413886
(305) 741-0002
Source:
Compass
Added: Nov 26, 2025
Changed: Sep 6
Last Checked: Sep 6 at 2:53PM
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 Yaffe International Realty
Investment Insights
Based on property information with market context.
This remodeled income property is configured as a duplex-style setup with three independent units, including two main units (a 2/1 and a 1/1) and a separate studio. The main units have been fully updated and feature marble floors, modern appliances, and abundant natural light.
The property is located on Mayo St, approximately two blocks east of Federal Hwy, with access to Downtown and Hollywood Beach within minutes.
The existing multi-unit layout provides multiple rentable spaces under one roof, offering flexibility for investors or owner-occupants who want independent accommodations.
The property is located on Mayo St, approximately two blocks east of Federal Hwy, with access to Downtown and Hollywood Beach within minutes.
The existing multi-unit layout provides multiple rentable spaces under one roof, offering flexibility for investors or owner-occupants who want independent accommodations.
Key Highlights
- Year built: 1964
- Income property with 3 independent units: two main units plus a separate studio
- Unit mix includes a spacious 2/1 and a 1/1, plus an additional separate studio
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
$29,940
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
4.47%
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%
$598,800
$598.8K
Cap Rate 7%
$427,714
$427.7K
Cap Rate 9%
$332,667
$332.7K
Market Conditions
NOI Build-Up for 1,671 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
$29.9K $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%
$598,800
Cap Rate 7%
$427,714
Cap Rate 9%
$332,667
Alternative Uses
Best Use
Multifamily LT 5
$427.7K
$374.3K – $499.0K
NOI $29,940 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$397.9K
$348.2K – $464.2K
NOI $27,852 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$653.7K
$572.0K – $762.7K
NOI $45,759 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,534
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?
Triplex - Remodeled income property with three independent units, including two main units plus a separate studio.
Where is this triplex located?
The property is located at 1629 Mayo Street Hollywood, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Year built: 1964; Income property with 3 independent units: two main units plus a separate studio; Unit mix includes a spacious 2/1 and a 1/1, plus an additional separate studio
