Quadplex Development
For Sale
$1,000,000
2127 Polk Street, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size2,158 SF
Lot Size0.40 Acres
Price / SF$463.39
Days on Market491
Property Features for 2127 Polk Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 3
Patio and Porch features
Porch
Exterior features
Balcony
Subdivision
Hollywood Little Ranches
Directions
Sheridan St to N Dixie Hwy. Turn south till Polk 2 blocks north of Hollywood Blvd.
Standard status
Active
APN
514216100051
Size
2,158 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A SUB OF LOTS 1 & 2 OF BLK E HOLLYWOOD LITTLE RANCHES 3-19 B LOT 6
Tax Annual Amount
11334
Legal Description
A SUB OF LOTS 1 & 2 OF BLK E HOLLYWOOD LITTLE RANCHES 3-19 B LOT 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Electric, Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1954
Floors in Building
1
Number of units
4
Flooring type
Tile, Terrazzo
Building materials
Block
Roof type
Barrel, Tile
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Tina N Levinger · License #3022815
(954) 675-1845
Added: May 8, 2025
Changed: Sep 10
Last Checked: Sep 10 at 8:06PM
MLS# F10502624
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.
This quadplex property includes three side-by-side parcels with separate folio numbers, creating a combined 17,262-square-foot site. The existing 2,158-square-foot improvement was built in 1954 with block construction, tile and terrazzo flooring, a tile barrel roof, balcony, porch, and four bedrooms with four bathrooms. Cooling includes electric and window or wall/window units.
The property is located on Polk Street in Hollywood, Broward County, with public sewer service and cable availability. DH-3 zoning is identified as high-density, mixed-use zoning, with a stated 40-unit development concept and potential for a vertical project reaching up to 140 feet and 10 stories. The listed zoning uses also include self-storage, hotel, amusement, and automotive sales.
The property is located on Polk Street in Hollywood, Broward County, with public sewer service and cable availability. DH-3 zoning is identified as high-density, mixed-use zoning, with a stated 40-unit development concept and potential for a vertical project reaching up to 140 feet and 10 stories. The listed zoning uses also include self-storage, hotel, amusement, and automotive sales.
Key Highlights
- Combined 17,262‑square‑foot site formed by 3 adjacent lots with separate folio numbers
- DH‑3 high‑density, mixed‑use zoning
- 40‑unit development concept identified in the listing
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
$38,665
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
3.87%
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%
$773,300
$773.3K
Cap Rate 7%
$552,357
$552.4K
Cap Rate 9%
$429,611
$429.6K
Market Conditions
NOI Build-Up for 2,158 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
$58.3K $27.00/SF
− Vacancy
−$3.0K −$1.40/SF
EGI
$55.2K $25.60/SF
− OpEx
−$16.6K −$7.68/SF
NOI
$38.7K $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%
$773,300
Cap Rate 7%
$552,357
Cap Rate 9%
$429,611
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.3K – $644.4K
NOI $38,665 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$513.8K
$449.6K – $599.5K
NOI $35,969 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$844.2K
$738.7K – $984.9K
NOI $59,095 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,633
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three adjoining parcels support multifamily redevelopment under DH-3 high-density, mixed-use zoning.
Where is this quadplex located?
The property is located at 2127 Polk Street Hollywood, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Combined 17,262‑square‑foot site formed by 3 adjacent lots with separate folio numbers; DH‑3 high‑density, mixed‑use zoning; 40‑unit development concept identified in the listing
