Building Details

Building Size 1,986 SF

Year Built 1949

Listing Agency: RE/MAX 5 Star Realty

Listed By: John DeMarco · License #3134747 Show Phone

Source: Relinkre

Added: Oct 20, 2025 Changed: Oct 17 Last Checked: Oct 16 at 3:09PM

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Investment Insights

Based on property information with market context.

This property presents a fully approved, shovel-ready 9-unit multifamily development opportunity located in Hollywood, Florida. The site features a 1,986 square foot duplex situated on an 8,283 square foot lot, zoned PS-1. The existing duplex is currently leased to two tenants, generating $5,000 per month in income. Approved plans are in place for a modern 9-unit building, complete with 10 parking spaces and landscaping designed to meet all city standards. Upon stabilization, the project is projected to generate $295,000 in gross annual income and a net operating income of $222,750, representing a 9.3% cap rate. The property's location offers proximity to Downtown Hollywood, Young Circle, and major highways, making it a turnkey opportunity for investors and developers.

Key Highlights

• Fully approved, shovel‑ready 9‑unit multifamily development project.
• Projected $222,750 NOI and a 9.3% cap rate once stabilized.
• Existing duplex generates $5,000/month in rental income.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,103

Cap Rate

3.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$662,060 $662.1K

Cap Rate 7%

$472,900 $472.9K

Cap Rate 9%

$367,811 $367.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,986 SF

Gross rent

$63.2K $31.80/SF

− Vacancy

−$3.0K −$1.49/SF

EGI

$60.2K $30.31/SF

− OpEx

−$27.1K −$13.64/SF

NOI

$33.1K $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%

$662,060

Cap Rate 7%

$472,900

Cap Rate 9%

$367,811

Alternative Uses

Best Use

Apartment 5plus

$472.9K

$413.8K – $551.7K (±1% cap)

NOI $33,103 @ 7.0% cap · market cap 3.33%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$776.9K

$679.8K – $906.4K (±1% cap)

NOI $54,385 @ 7.0% cap · market cap 5.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Tanning Salon Clothing & Fashion Store Restaurant Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Shovel-ready 9-unit multifamily development in Hollywood, Florida.

Where is this apartment building located?

The property is located at 1910 Washington St Hollywood, FL.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Fully approved, shovel‑ready 9‑unit multifamily development project.; Projected $222,750 NOI and a 9.3% cap rate once stabilized.; Existing duplex generates $5,000/month in rental income.