Duplex with Two Adjacent
1932 Dewey Street Hollywood, FL 33020
1932 Dewey Street, Hollywood, FL, 33020
$499,000
For Sale
$499,000
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 Market21
Property Features for 1932 Dewey Street
General Information
- Standard status
- Active
- Size
- 1,468 SF
- Lot size
- 0.25 Acres
- Property subtype
- Duplex
Building Details
- Year Built
- 1926
Listing agency
Molina Realty
(917) 675-9832
Listed by
Ekaterina Molina · License #R11165434
(917) 675-9832
Source
Lehmannflorida
Added: Jul 3 Updated: Jul 23 at 3:46AM Checked: Jul 23 at 3:46AM
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
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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.6k | $27.00 |
| − Vacancy | −$2.1k | −$1.40 |
| EGI | $37.6k | $25.60 |
| − OpEx | −$11.3k | −$7.68 |
| NOI | $26.3k | $17.92 |
1,468 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
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
