Duplex with Private Laundry and Fenced
For Sale
$669,000
1923 N 23rd Avenue, Hollywood, FL 33020
MULTI_FAMILY - Hollywood, FL
Property Size1,401 SF
Price / SF$477.52
Days on Market178
Property Features for 1923 N 23rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-9
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Subdivision
Hollywood Park 4-19 B
Elementary school
Oakridge
Middle school
Attucks
High school
South Broward
Directions
via Sheridan St and N 23rd Ave. Head west on Sheridan St toward Dixie Hwy. Turn left onto N 23rd Ave.Destination will be on the left
Standard status
Active
APN
514209052500
Size
1,401 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
HOLLYWOOD PARK 4-19 B LOT 13 BLK 20
Tax Annual Amount
9704
Legal Description
HOLLYWOOD PARK 4-19 B LOT 13 BLK 20
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
private laundry
fenced yards
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle, Composition
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Feb 19
Changed: Aug 5
Last Checked: Aug 16 at 9:06AM
MLS# F10552025
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex located at 1923 N 23rd Avenue in Hollywood, Florida. The property includes two units, each offering two bedrooms and one bathroom, with private laundry. Each unit has separate electric and water meters, and the interiors feature tile flooring. The home is heated and cooled with central systems, including central air and ceiling fans.
The duplex sits on a fenced yard setting, with updated kitchens and bathrooms noted for both units. Both units are currently vacant and ready for an investor or an owner-user.
Construction materials include stucco, with a shingle/composition roof. Additional utilities include cable available, and services are connected to public water and public sewer. The building was built in 1961.
The duplex sits on a fenced yard setting, with updated kitchens and bathrooms noted for both units. Both units are currently vacant and ready for an investor or an owner-user.
Construction materials include stucco, with a shingle/composition roof. Additional utilities include cable available, and services are connected to public water and public sewer. The building was built in 1961.
Key Highlights
- Duplex with two units, each offering 2 bedrooms and 1 bathroom
- Private laundry in each unit with separate electric and water meters
- Huge fenced yards and updated kitchens and bathrooms for both units
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
$25,102
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
3.75%
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%
$502,040
$502.0K
Cap Rate 7%
$358,600
$358.6K
Cap Rate 9%
$278,911
$278.9K
Market Conditions
NOI Build-Up for 1,401 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
$37.8K $27.00/SF
− Vacancy
−$2.0K −$1.40/SF
EGI
$35.9K $25.60/SF
− OpEx
−$10.8K −$7.68/SF
NOI
$25.1K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$502,040
Cap Rate 7%
$358,600
Cap Rate 9%
$278,911
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,102 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,352 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$548.1K
$479.6K – $639.4K
NOI $38,365 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,684
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?
Duplex - Duplex in RM-9 zoning with separate utilities, private laundry, and fenced yards for each 2-bedroom unit.
Where is this duplex located?
The property is located at 1923 N 23rd Avenue Hollywood, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Duplex with two units, each offering 2 bedrooms and 1 bathroom; Private laundry in each unit with separate electric and water meters; Huge fenced yards and updated kitchens and bathrooms for both units
