Duplex with Two Adjacent
For Sale
$499,000
1932 Dewey Street, Hollywood, FL 33020
Duplex on adjacent lots, zoned PS-1, currently leased for rental income with a development plan concept on file.
Property Size1,468 SF
Lot Size0.25 Acres
Price / SF$339.92
Days on Market112
Property Features for 1932 Dewey Street
General Information
Standard status
Active
Size
1,468 SF
Lot size
0.25 Acres
Property subtype
Duplex
Zoning
PS-1
Additional Details
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
Molina Realty
Listed By:
Ekaterina Molina · License #3388141
(917) 675-9832
Source:
Lehmannflorida
Added: Jul 3
Changed: Oct 21
Last Checked: Oct 20 at 10:02PM
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 Molina Realty
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Investment Insights
Based on property information with market context.
This offering presents a duplex on two adjacent lots, listed as 1928 and 1932 Dewey Street, with the option to pursue a combined sale. The property is currently improved with a front unit and a rear unit generating rental income under existing leases. The front unit is configured as 2BR/2BA and is leased at $2,000 per month, while the rear unit is 1BR/1BA and is under a long-term lease at $2,100 per month.
The lots are zoned PS-1. An architect’s concept suggests potential for a new residential development of 15–18 units across four stories, with ground-floor parking. The seller indicates the opportunity may be structured as a JV or full sale.
The property is located in Hollywood, Florida, near Downtown and local cafes, and is described as approximately 2 miles from the beach.
The lots are zoned PS-1. An architect’s concept suggests potential for a new residential development of 15–18 units across four stories, with ground-floor parking. The seller indicates the opportunity may be structured as a JV or full sale.
The property is located in Hollywood, Florida, near Downtown and local cafes, and is described as approximately 2 miles from the beach.
Key Highlights
- Year built 1926; duplex on adjacent lots at 1928 & 1932 Dewey St
- Zoned PS‑1 with concept plan (per architect) to build 15–18 residential units across four stories
- Total land area for both lots: 10,836 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,302
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$526,040
$526.0K
Cap Rate 7%
$375,743
$375.7K
Cap Rate 9%
$292,244
$292.2K
Market Conditions
NOI Build-Up for 1,468 SF
Gross rent
$39.6K $27.00/SF
− Vacancy
−$2.1K −$1.40/SF
EGI
$37.6K $25.60/SF
− OpEx
−$11.3K −$7.68/SF
NOI
$26.3K $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 Rate 5%
$526,040
Cap Rate 7%
$375,743
Cap Rate 9%
$292,244
Alternative Uses
Best Use
Multifamily LT 5
$375.7K
$328.8K – $438.4K
NOI $26,302 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$349.6K
$305.9K – $407.8K
NOI $24,469 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$574.3K
$502.5K – $670.0K
NOI $40,200 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,465
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on adjacent lots, zoned PS-1, currently leased for rental income with a development plan concept on file.
Where is this duplex located?
The property is located at 1932 Dewey Street Hollywood, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Year built 1926; duplex on adjacent lots at 1928 & 1932 Dewey St; Zoned PS‑1 with concept plan (per architect) to build 15–18 residential units across four stories; Total land area for both lots: 10,836 SF
