Renovated Short-Term Rental
For Sale
Contact for pricing
1640 Washington St, Hollywood, FL 33020
Pool residence with updated interiors, outdoor entertaining space, and proximity to beaches, dining, entertainment, and airport access.
Property Size2,030 SF
Price / SF$487.19
Days on Market150
Property Features for 1640 Washington St
General Information
Standard status
Active
Size
2,030 SF
Class
B
Property subtype
Mixed Use
Zoning
RS-6
Investment Type
Owner/User
Amenities
pool
patio
Building Details
Year Built
1972
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Sold Realty
Listed By:
Michael D · License #3327742
Source:
Crexi
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 3:58PM
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 Sold Realty
Investment Insights
Based on property information with market context.
This 2,030 SF short-term rental property in Hollywood was built in 1972 and has undergone a full renovation. The home includes a private pool, spacious patio, updated kitchen with new appliances, renovated bathrooms, porcelain tile flooring, and hurricane-impact windows. The improvements create a contemporary residential setting with dedicated outdoor amenities.
Located east of US-1 at 1640 Washington St, the property is near Hollywood Beach and Downtown Hollywood, with close access to Fort Lauderdale Airport. The property is zoned RS-6 and includes a pool and outdoor space that support short-term rental use. Its location also places it near beaches, dining, and entertainment venues.
Located east of US-1 at 1640 Washington St, the property is near Hollywood Beach and Downtown Hollywood, with close access to Fort Lauderdale Airport. The property is zoned RS-6 and includes a pool and outdoor space that support short-term rental use. Its location also places it near beaches, dining, and entertainment venues.
Key Highlights
- 2,030 SF renovated home with a private pool and spacious patio
- Updated kitchen with new appliances and renovated bathrooms
- Hurricane‑impact windows and porcelain tile flooring throughout
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
$33,836
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
3.42%
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%
$676,720
$676.7K
Cap Rate 7%
$483,371
$483.4K
Cap Rate 9%
$375,956
$376.0K
Market Conditions
NOI Build-Up for 2,030 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
$64.6K $31.80/SF
− Vacancy
−$3.0K −$1.49/SF
EGI
$61.5K $30.31/SF
− OpEx
−$27.7K −$13.64/SF
NOI
$33.8K $16.67/SF
Area
Hollywood, FL
Vacancy
4.70%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$676,720
Cap Rate 7%
$483,371
Cap Rate 9%
$375,956
Alternative Uses
Best Use
Apartment 5plus
$483.4K
$423.0K – $563.9K
NOI $33,836 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$794.1K
$694.9K – $926.5K
NOI $55,590 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,844
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?
Short term rental property - Pool residence with updated interiors, outdoor entertaining space, and proximity to beaches, dining, entertainment, and airport access.
Where is this short term rental property located?
The property is located at 1640 Washington St Hollywood, FL.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 2,030 SF renovated home with a private pool and spacious patio; Updated kitchen with new appliances and renovated bathrooms; Hurricane‑impact windows and porcelain tile flooring throughout
