14-Unit Apartment
New
For Sale
$3,150,000
1740 Funston St, Hollywood, FL 33020
Two-story concrete-block community with renovated interiors, varied unit layouts, and on-site laundry facilities.
Property Size9,503 SF
Lot Size0.25 Acres
Days on Market1
Property Features for 1740 Funston St
General Information
Standard status
Active
Size
9,503 SF
Net Rentable
8,649 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Occupancy
97%
Units
Unit Mix
13 x 1BR/1BA (600 SF), 1 x 2BR/1.5BA (849 SF)
Multifamily Units
14
Additional Details
Average Monthly Rent
$1,786
Utilities to Site
Yes
Amenities
on-site laundry
14-unit community in Hollywood's South Side neighborhood, East of Federal Highway
86% of units renovated with new flooring, granite kitchens, and stainless-steel appliances
Select units with in-unit washers & dryers, additional coin laundry machines for balance
High-impact windows throughout, central A/C, and new 2021 flat roof
Privately gated community with code entry
Individually metered electric; tenants responsible for electric and internet
Building Details
Building Size
9,503 SF
Year Built
1977
Stories
2
Units
14
Construction
concrete block
Listing Agency:
Fort Lauderdale Office
Listed By:
Austin Michels · License #License(s): FL: SL3510497
(954) 245-3439
Source:
Marcusmillichap
Added: Sep 22
Last Checked: Sep 22 at 1:55PM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Built in 1977, this two-story concrete-block apartment property at 1740 Funston Street includes 14 units and 8,649 rentable square feet. The unit mix consists of thirteen one-bedroom, one-bath residences measuring 600 SF and one two-bedroom, one-and-a-half-bath residence measuring 849 SF. Twelve units have received interior updates, including new flooring, granite kitchen countertops, stainless-steel appliances, and refreshed bathroom fixtures. Three residences include in-unit washers and dryers, while the remaining units have access to owner-provided coin laundry equipment.
The property occupies a 0.25-acre lot in Hollywood’s South Side neighborhood, near Downtown Hollywood, Young Circle, and the beach. Municipal water and sewer serve the site, with individually metered electric service through FPL and third-party trash collection by Universal Waste. Electrical improvements are underway, including replacement of the original Zinsco panels with Siemens panels.
The property occupies a 0.25-acre lot in Hollywood’s South Side neighborhood, near Downtown Hollywood, Young Circle, and the beach. Municipal water and sewer serve the site, with individually metered electric service through FPL and third-party trash collection by Universal Waste. Electrical improvements are underway, including replacement of the original Zinsco panels with Siemens panels.
Key Highlights
- 14 units totaling 8,649 rentable square feet
- Unit mix includes thirteen 1‑bedroom/1‑bath units and one 2‑bedroom/1.5‑bath unit
- 12 of 14 units renovated with updated flooring, kitchens, and bathroom fixtures
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
$158,396
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
5.03%
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%
$3,167,920
$3.2M
Cap Rate 7%
$2,262,800
$2.3M
Cap Rate 9%
$1,759,956
$1.8M
Market Conditions
NOI Build-Up for 9,503 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
$302.2K $31.80/SF
− Vacancy
−$14.2K −$1.49/SF
EGI
$288.0K $30.31/SF
− OpEx
−$129.6K −$13.64/SF
NOI
$158.4K $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%
$3,167,920
Cap Rate 7%
$2,262,800
Cap Rate 9%
$1,759,956
Alternative Uses
Best Use
Apartment 5plus
$2.26M
$1.98M – $2.64M
NOI $158,396 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.25M – $4.34M
NOI $260,230 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,714
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story concrete-block community with renovated interiors, varied unit layouts, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1740 Funston St Hollywood, FL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 14 units totaling 8,649 rentable square feet; Unit mix includes thirteen 1‑bedroom/1‑bath units and one 2‑bedroom/1.5‑bath unit; 12 of 14 units renovated with updated flooring, kitchens, and bathroom fixtures
