Fully Renovated 9-Unit
For Sale
$2,150,000
Pending
2201 Greene Street #1-9, Hollywood, FL 33020
Turnkey 9-unit rental property with remodeled interiors, new systems, and eight on-site parking spaces.
Property Size4,617 SF
Days on Market92
Property Features for 2201 Greene Street #1-9
General Information
Standard status
Pending
Size
4,617 SF
Total Parking Spaces
8
Zoning
RS-1
Additional Details
Cap Rate
7.27%
Highway Access
Yes
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$21,791
Building Details
Building Size
4,617 SF
Year Built
1960
Tenancy
Multi
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License #3574869
(954) 743-7594
Source:
Laerrealty
Added: Jun 12
Changed: Sep 10
Last Checked: Sep 10 at 5:34AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This fully renovated 9-unit multifamily property offers a unit mix of four 2-bedroom/1-bath homes and five 1-bedroom/1-bath homes. Renovations include new plumbing, updated electrical, new A/C systems, impact windows and doors, and fully remodeled interiors designed to support comfortable, low-maintenance tenancy. The property is presented as a turnkey offering for an operator or investor seeking a prepared income asset.
Located at 2201 Greene Street in Hollywood, it is described as being in the heart of Hollywood, with access to major transportation corridors and South Florida’s amenities. Distances noted in the materials include approximately 5 minutes from Downtown Hollywood, 8 minutes from Fort Lauderdale-Hollywood International Airport, and 10 minutes from the beach, along with easy access to Interstate 95.
With eight on-site parking spaces, the property is set up for practical tenant convenience. The public remarks also indicate it is currently producing operating performance consistent with a listed 7.27% going-in cap rate, supported by the property’s recent systems upgrades and remodeled unit interiors. For buyers or operators, the combination of refreshed building components and a balanced 1-bedroom and 2-bedroom mix may align well with ongoing rental demand in the area.
Located at 2201 Greene Street in Hollywood, it is described as being in the heart of Hollywood, with access to major transportation corridors and South Florida’s amenities. Distances noted in the materials include approximately 5 minutes from Downtown Hollywood, 8 minutes from Fort Lauderdale-Hollywood International Airport, and 10 minutes from the beach, along with easy access to Interstate 95.
With eight on-site parking spaces, the property is set up for practical tenant convenience. The public remarks also indicate it is currently producing operating performance consistent with a listed 7.27% going-in cap rate, supported by the property’s recent systems upgrades and remodeled unit interiors. For buyers or operators, the combination of refreshed building components and a balanced 1-bedroom and 2-bedroom mix may align well with ongoing rental demand in the area.
Key Highlights
- Fully renovated 9‑unit multifamily property built in 1960
- Unit mix: four 2 bed / 1 bath units and five 1 bed / 1 bath units
- Extensive renovations include new plumbing, updated electrical, and fully remodeled interiors
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
$76,956
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
3.58%
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%
$1,539,120
$1.5M
Cap Rate 7%
$1,099,371
$1.1M
Cap Rate 9%
$855,067
$855.1K
Market Conditions
NOI Build-Up for 4,617 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
$146.8K $31.80/SF
− Vacancy
−$6.9K −$1.49/SF
EGI
$139.9K $30.31/SF
− OpEx
−$63.0K −$13.64/SF
NOI
$77.0K $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 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%
$1,539,120
Cap Rate 7%
$1,099,371
Cap Rate 9%
$855,067
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$962.0K – $1.28M
NOI $76,956 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,432 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,509
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
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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?
Apartment building - Turnkey 9-unit rental property with remodeled interiors, new systems, and eight on-site parking spaces.
Where is this apartment building located?
The property is located at 2201 Greene Street #1-9 Hollywood, FL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Fully renovated 9‑unit multifamily property built in 1960; Unit mix: four 2 bed / 1 bath units and five 1 bed / 1 bath units; Extensive renovations include new plumbing, updated electrical, and fully remodeled interiors
