5-Unit Apartment
1947 MADISON Street, Hollywood, FL
For Sale
New
$1,290,000
Commercial Sale, Hollywood, FL
Property Size2,598 SF
Lot Size0.13 Acres
Price / SF$496.54
Days on Market3
Property Features for 1947 MADISON Street
General Information
Property type
Property subtype
Zoning
Parking
Parking features
Fencing
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Cooling system
Water source
Amenities
washer/dryer
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Elaina Torres-Salinas · License FL #3516791
(954) 681-1331
Added: Nov 13
Changed: Nov 14
Last Checked: Nov 15 at 6:06AM
MLS# B26100401
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.
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 2,598 square feet on a 0.13-acre parcel. Built in 1973, the block construction building has laminate and tile flooring, window or wall cooling, and ceiling fans. The residences have been remodeled, and a washer and dryer are provided for tenant use. The roof is reported to be 6–7 years old. Five electric meters and six city water meters allow utilities to be separately charged.
The property is in Hollywood, Florida, within walking distance of Downtown Hollywood Boulevard. Hollywood Beach is approximately 2.5 miles away, and I-95 is 1.5 miles away. Hollywood Hard Rock is 15 minutes away. Zoning is PS-2, which allows construction up to five stories.
The property is in Hollywood, Florida, within walking distance of Downtown Hollywood Boulevard. Hollywood Beach is approximately 2.5 miles away, and I-95 is 1.5 miles away. Hollywood Hard Rock is 15 minutes away. Zoning is PS-2, which allows construction up to five stories.
Key Highlights
- Five apartment units in a 2,598‑square‑foot building
- 0.13‑acre parcel in Hollywood, Florida
- Five electric meters and six city water meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,303
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,060
$866.1K
Cap Rate 7%
$618,614
$618.6K
Cap Rate 9%
$481,144
$481.1K
Market Conditions
NOI Build-Up for 2,598 SF
Gross rent
$82.6K $31.80/SF
− Vacancy
−$3.9K −$1.49/SF
EGI
$78.7K $30.31/SF
− OpEx
−$35.4K −$13.64/SF
NOI
$43.3K $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%
$866,060
Cap Rate 7%
$618,614
Cap Rate 9%
$481,144
Alternative Uses
Best Use
Apartment 5plus
$618.6K
$541.3K – $721.7K
NOI $43,303 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.3K – $1.19M
NOI $71,144 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,497
Businesses Nearby
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Business Placement
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Market
Average Price Trend$/SF for Apartment buildings in Hollywood, FL
Properties on Market for Apartment buildings in Hollywood
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled residences include in-place washer and dryer service and separate electric and municipal water meters.
Where is this apartment building located?
The property is located at 1947 MADISON Street Hollywood, FL.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Five apartment units in a 2,598‑square‑foot building; 0.13‑acre parcel in Hollywood, Florida; Five electric meters and six city water meters
