Renovated Studio Apartment
1858 Dewey St, Hollywood, FL 33020
For Sale
$2,050,000
Furnished studio residences offer an all-inclusive rental format with individual kitchens, dining areas, and split-system air conditioning.
Property Size3,632 SF
Days on Market111
Property Features for 1858 Dewey St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Corte Real Estate Group LLC
Listed By:
Ugo Cortesano · License FL #3358320
(786) 942-3238
Source:
Relinkre
Added: Jul 27
Changed: Oct 31
Last Checked: Nov 12 at 5:01PM
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 Corte Real Estate Group LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1858 Dewey Street in Hollywood, this multifamily property was built in 1964 and is configured as 12 renovated, furnished studio residences. Each studio includes split-system air conditioning, a flat-screen television, and a kitchen with dining space. The rental arrangement includes Wi-Fi, electricity, and water, while annual leases and long-term tenants support the current operating model.
The property is legally recognized as nine units but presently functions as 12 studios through a flexible layout with dividing doors, allowing selected spaces to operate independently or together. The approximately 0.25-acre site is within an Opportunity Zone and may support redevelopment of up to five stories, subject to governmental approvals and independent verification. Downtown Hollywood, ArtsPark at Young Circle, Hollywood Beach, major roadways, public transportation, dining, shopping, and Fort Lauderdale-Hollywood International Airport are nearby. WalkScore is 67, BikeScore is 69, and TransitScore is 41.
The property is legally recognized as nine units but presently functions as 12 studios through a flexible layout with dividing doors, allowing selected spaces to operate independently or together. The approximately 0.25-acre site is within an Opportunity Zone and may support redevelopment of up to five stories, subject to governmental approvals and independent verification. Downtown Hollywood, ArtsPark at Young Circle, Hollywood Beach, major roadways, public transportation, dining, shopping, and Fort Lauderdale-Hollywood International Airport are nearby. WalkScore is 67, BikeScore is 69, and TransitScore is 41.
Key Highlights
- 12 renovated, fully furnished studio residences
- Legally recognized as 9 units; currently configured as 12 studios
- Approximately 0.25 acres within an Opportunity Zone
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,538
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,760
$1.2M
Cap Rate 7%
$864,829
$864.8K
Cap Rate 9%
$672,644
$672.6K
Market Conditions
NOI Build-Up for 3,632 SF
Gross rent
$115.5K $31.80/SF
− Vacancy
−$5.4K −$1.49/SF
EGI
$110.1K $30.31/SF
− OpEx
−$49.5K −$13.64/SF
NOI
$60.5K $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 Rate 5%
$1,210,760
Cap Rate 7%
$864,829
Cap Rate 9%
$672,644
Alternative Uses
Best Use
Apartment 5plus
$864.8K
$756.7K – $1.01M
NOI $60,538 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,459 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
3,465
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
$306,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Hollywood, FL
Properties on Market for Apartment buildings in Hollywood
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Furnished studio residences offer an all-inclusive rental format with individual kitchens, dining areas, and split-system air conditioning.
Where is this apartment building located?
The property is located at 1858 Dewey St Hollywood, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 12 renovated, fully furnished studio residences; Legally recognized as 9 units; currently configured as 12 studios; Approximately 0.25 acres within an Opportunity Zone
