Seven-Unit Multifamily
For Sale
$1,225,000
2247 Simms St, Hollywood, FL 33020
Seven 1-bedroom units in a 3,164 SF multifamily building with central A/C and a 2016 roof.
Property Size3,164 SF
Price / SF$387.17
Days on Market130
Property Features for 2247 Simms St
General Information
Standard status
Active
Size
3,164 SF
Property subtype
Quadruplex
Additional Details
Cap Rate
6.23%
Highway Access
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$25,502
Amenities
impact windows
central A/C throughout
stainless steel appliances
Building Details
Building Size
3,164 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License #3574869
(786) 483-0826
Source:
Relinkre
Added: Jun 15
Changed: Oct 21
Last Checked: Oct 21 at 6:18AM
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
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Investment Insights
Based on property information with market context.
2247 Simms Street is a 7-unit multifamily property offering seven 1-bedroom, 1-bath residences within a 3,164 SF building. The property includes impact windows, central A/C throughout, and stainless steel appliances. A 2016 roof supports reduced near-term capital expenditure needs.
The asset is located in Hollywood, Florida, with convenient access to Interstate 95. It is approximately 5 minutes from Downtown Hollywood, 10 minutes from Hollywood Beach, and 8 minutes from Fort Lauderdale-Hollywood International Airport.
For investors, the property is currently generating approximately $80,718 in NOI, reflecting a 6.23% cap rate at the asking price, with potential for additional income growth through future rent increases.
The asset is located in Hollywood, Florida, with convenient access to Interstate 95. It is approximately 5 minutes from Downtown Hollywood, 10 minutes from Hollywood Beach, and 8 minutes from Fort Lauderdale-Hollywood International Airport.
For investors, the property is currently generating approximately $80,718 in NOI, reflecting a 6.23% cap rate at the asking price, with potential for additional income growth through future rent increases.
Key Highlights
- 7‑unit multifamily property built in 1956 with seven 1‑bedroom/1‑bath units
- 3,164 SF building with central A/C throughout and impact windows
- 2016 roof and stainless steel appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,737
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,740
$1.1M
Cap Rate 7%
$753,386
$753.4K
Cap Rate 9%
$585,967
$586.0K
Market Conditions
NOI Build-Up for 3,164 SF
Gross rent
$100.6K $31.80/SF
− Vacancy
−$4.7K −$1.49/SF
EGI
$95.9K $30.31/SF
− OpEx
−$43.1K −$13.64/SF
NOI
$52.7K $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%
$1,054,740
Cap Rate 7%
$753,386
Cap Rate 9%
$585,967
Alternative Uses
Best Use
Apartment 5plus
$753.4K
$659.2K – $879.0K
NOI $52,737 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,643 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
7
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,391
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
Frequently Asked Questions
What type of property is this?
Apartment building - Seven 1-bedroom units in a 3,164 SF multifamily building with central A/C and a 2016 roof.
Where is this apartment building located?
The property is located at 2247 Simms St Hollywood, FL.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 7‑unit multifamily property built in 1956 with seven 1‑bedroom/1‑bath units; 3,164 SF building with central A/C throughout and impact windows; 2016 roof and stainless steel appliances included
