Seven-Unit Multifamily
2247 Simms Street Hollywood, FL 33020
For Sale
$1,295,000
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$409.29
Days on Market40
Property Features for 2247 Simms Street
General Information
- Standard status
- Active
- Size
- 3,164 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1956
Listing Agency:
Fausto Commercial Realty Consultants Inc
(954) 743-7594
Listed By:
Elior Levi · License #R11153657
(954) 743-7594
Source:
Lehmannflorida
Added: Jun 15
Changed: Jul 23
Last Checked: Jul 23 at 5:03PM
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.
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.6k | $31.80 |
| − Vacancy | −$4.7k | −$1.49 |
| EGI | $95.9k | $30.31 |
| − OpEx | −$43.1k | −$13.64 |
| NOI | $52.7k | $16.67 |
3,164 SF · lease $31.80/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$753.4K
$659.2K – $879.0K
NOI $52,737 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,643 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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 Street Hollywood, FL.
What is the asking price?
The asking price for this property is $1,295,000.
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
