Multifamily Investment with Redevelopment
For Sale
$6,450,000
1723-1743 Moffett St, Hollywood, FL 33020
Three adjacent parcels totaling 36 units near Downtown Hollywood offer in-place rental income and redevelopment upside.
Property Size18,417 SF
Lot Size1.42 Acres
Price / SF$350.22
Days on Market135
Property Features for 1723-1743 Moffett St
General Information
Standard status
Active
Size
18,417 SF
Lot size
1.42 Acres
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Multifamily Units
36
Taxes and HOA fees
Annual Taxes
$66,091
Amenities
3
Building Details
Year Built
1945
Listing Agency:
RE/MAX 5 Star Realty
(954) 361-0000
Listed By:
John DeMarco · License #BK3134747
(954) 453-1000
Source:
Xome
Added: Apr 26
Changed: Sep 1
Last Checked: Sep 6 at 4:41AM
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 RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
This multifamily investment consists of three adjacent parcels featuring a total of 36 apartment units at 1723–1743 Moffett St in Hollywood, Florida. The portfolio is approximately 61,718 SF and benefits from in-place rental income, with additional upside cited through future rental increases, continued renovations, lease-up opportunities, and operational improvements. Several units have been updated with renovated interiors.
The assemblage is described as centrally located near Downtown Hollywood, Young Circle, Federal Highway, Dixie Highway, I-95, and Hollywood Beach. In addition to existing income, the parcels are presented as having long-term redevelopment potential under the Live Local Act, with the ability to develop approximately 325+ units.
The assemblage is described as centrally located near Downtown Hollywood, Young Circle, Federal Highway, Dixie Highway, I-95, and Hollywood Beach. In addition to existing income, the parcels are presented as having long-term redevelopment potential under the Live Local Act, with the ability to develop approximately 325+ units.
Key Highlights
- Multifamily portfolio on three adjacent parcels totaling 36 apartment units
- Properties sit on approximately 61,718 SF
- Built in 1945
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
$306,974
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
4.76%
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%
$6,139,480
$6.1M
Cap Rate 7%
$4,385,343
$4.4M
Cap Rate 9%
$3,410,822
$3.4M
Market Conditions
NOI Build-Up for 18,417 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
$585.7K $31.80/SF
− Vacancy
−$27.5K −$1.49/SF
EGI
$558.1K $30.31/SF
− OpEx
−$251.2K −$13.64/SF
NOI
$307.0K $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%
$6,139,480
Cap Rate 7%
$4,385,343
Cap Rate 9%
$3,410,822
Alternative Uses
Best Use
Apartment 5plus
$4.39M
$3.84M – $5.12M
NOI $306,974 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.20M
$6.30M – $8.41M
NOI $504,331 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
36
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,765
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?
Apartment building - Three adjacent parcels totaling 36 units near Downtown Hollywood offer in-place rental income and redevelopment upside.
Where is this apartment building located?
The property is located at 1723-1743 Moffett St Hollywood, FL.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: Multifamily portfolio on three adjacent parcels totaling 36 apartment units; Properties sit on approximately 61,718 SF; Built in 1945
