8-Unit Multifamily
For Sale
$2,000,000
1730-1734 Fletcher Street, Hollywood, FL 33020
Two adjacent buildings totaling eight units are fully occupied and generating rental income.
Property Size4,888 SF
Lot Size0.38 Acres
Days on Market70
Property Features for 1730-1734 Fletcher Street
General Information
Standard status
Active
Size
4,888 SF
Lot size
0.38 Acres
Zoning
FH-1
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$31,249
Building Details
Building Size
4,888 SF
Year Built
1956
Listing Agency:
RE/MAX 5 Star Realty
Listed By:
John DeMarco · License #BK3134747
(954) 453-1000
Source:
Laerrealty
Added: Jun 30
Changed: Aug 22
Last Checked: Sep 6 at 4:14AM
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.
1730–1734 Fletcher Street offers an 8-unit multifamily investment opportunity through two adjacent apartment buildings. The property is fully occupied and provides current rental income, with several units noted as updated with renovated interiors. Additional value may be pursued through continued renovations, potential lease-up activity, and operational improvements.
The site is positioned near Downtown Hollywood and key local corridors including Young Circle, Federal Highway, Dixie Highway, I-95, and Hollywood Beach. The surrounding demand supports the property’s in-place occupancy.
In addition to existing multifamily income, the property is described as having long-term redevelopment potential under the Live Local Act, with the ability to develop approximately 85+ units, subject to applicable approvals and requirements.
The site is positioned near Downtown Hollywood and key local corridors including Young Circle, Federal Highway, Dixie Highway, I-95, and Hollywood Beach. The surrounding demand supports the property’s in-place occupancy.
In addition to existing multifamily income, the property is described as having long-term redevelopment potential under the Live Local Act, with the ability to develop approximately 85+ units, subject to applicable approvals and requirements.
Key Highlights
- 8‑unit multifamily property with two adjacent apartment buildings
- Total site area of approximately 16,379 SF
- Currently fully occupied and generating rental income
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
$81,473
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
4.07%
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%
$1,629,460
$1.6M
Cap Rate 7%
$1,163,900
$1.2M
Cap Rate 9%
$905,256
$905.3K
Market Conditions
NOI Build-Up for 4,888 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
$155.4K $31.80/SF
− Vacancy
−$7.3K −$1.49/SF
EGI
$148.1K $30.31/SF
− OpEx
−$66.7K −$13.64/SF
NOI
$81.5K $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%
$1,629,460
Cap Rate 7%
$1,163,900
Cap Rate 9%
$905,256
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,473 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,853 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
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 - Two adjacent buildings totaling eight units are fully occupied and generating rental income.
Where is this apartment building located?
The property is located at 1730-1734 Fletcher Street Hollywood, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 8‑unit multifamily property with two adjacent apartment buildings; Total site area of approximately 16,379 SF; Currently fully occupied and generating rental income
