Income Duplex with Development
For Sale
$535,000
1947 Adams Street Unit 1-2, Hollywood, FL 33020
Turnkey duplex with active Airbnb license and zoning allowing up to 10 units and five stories.
Property Size1,021 SF
Price / SF$523
Days on Market73
Property Features for 1947 Adams Street Unit 1-2
General Information
Standard status
Active
Size
1,021 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Compass Florida, LLC
(954) 477-7332
Listed By:
Ann E McQueen · License #3041716
(954) 673-2842
Source:
Lehmannflorida
Added: Jun 27
Changed: Sep 6
Last Checked: Sep 7 at 7:05AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This income-producing duplex is offered as a turnkey investment, currently operating with an active Airbnb license. The property is configured as a two-unit setup and is presented for immediate rental income.
The duplex is located in Downtown Hollywood and is described as being steps from restaurants, shopping, and entertainment. It is also noted to be only 10 minutes from the beach.
In addition to the existing rental use, the property sits on a lot with zoning that allows up to 10 units and five stories, supporting potential future development planning.
The duplex is located in Downtown Hollywood and is described as being steps from restaurants, shopping, and entertainment. It is also noted to be only 10 minutes from the beach.
In addition to the existing rental use, the property sits on a lot with zoning that allows up to 10 units and five stories, supporting potential future development planning.
Key Highlights
- 1925‑built duplex with income‑producing unit setup
- Active Airbnb license with immediate rental income
- Zoning allows up to 10 units and 5 stories
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
$18,293
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
3.42%
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%
$365,860
$365.9K
Cap Rate 7%
$261,329
$261.3K
Cap Rate 9%
$203,256
$203.3K
Market Conditions
NOI Build-Up for 1,021 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
$27.6K $27.00/SF
− Vacancy
−$1.4K −$1.40/SF
EGI
$26.1K $25.60/SF
− OpEx
−$7.8K −$7.68/SF
NOI
$18.3K $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 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%
$365,860
Cap Rate 7%
$261,329
Cap Rate 9%
$203,256
Alternative Uses
Best Use
Multifamily LT 5
$261.3K
$228.7K – $304.9K
NOI $18,293 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.6K
NOI $17,018 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$399.4K
$349.5K – $466.0K
NOI $27,959 @ 7.0% cap · market cap 5.23%
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
3,497
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with active Airbnb license and zoning allowing up to 10 units and five stories.
Where is this duplex located?
The property is located at 1947 Adams Street Unit 1-2 Hollywood, FL.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 1925‑built duplex with income‑producing unit setup; Active Airbnb license with immediate rental income; Zoning allows up to 10 units and 5 stories
