Multifamily Property with Rental
For Sale
$589,900
Pending
2318 Coolidge St, Hollywood, FL 33020
Multifamily property featuring a main house and two rental units.
Property Size1,445 SF
Days on Market276
Property Features for 2318 Coolidge St
General Information
Standard status
Pending
Size
1,445 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,555
Building Details
Building Size
1,445 SF
Year Built
1952
Units
3
Listing Agency:
Hollywood Beach Realty Inc
(954) 558-0407
Listed By:
Daniel Kennedy · License #0516224
(954) 558-0407
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 22
Last Checked: Aug 29 at 12:47PM
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 Hollywood Beach Realty Inc
Investment Insights
Based on property information with market context.
This property features a main house with two bedrooms and one bathroom, wood floors, central air conditioning, a gas tankless water heater, and a gas stove. An outside shower and a fenced yard with a carport are also included. The back house contains two rental units. One unit has been rented for 12 years at $700 per month. The other unit is vacant and was previously used as an Airbnb. Parking is available in the rear. The property has two gas bills, two septic tanks, and one water bill. The property is located in a convenient area close to amenities and is suitable for rental income generation.
Key Highlights
- Rental income potential from two back house units (one currently rented at $700/month, one previously used as Airbnb).
- Main house features desirable wood floors and central A/C.
- Convenient location close to everything.
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
$25,890
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
4.39%
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%
$517,800
$517.8K
Cap Rate 7%
$369,857
$369.9K
Cap Rate 9%
$287,667
$287.7K
Market Conditions
NOI Build-Up for 1,445 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
$39.0K $27.00/SF
− Vacancy
−$2.0K −$1.40/SF
EGI
$37.0K $25.60/SF
− OpEx
−$11.1K −$7.68/SF
NOI
$25.9K $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%
$517,800
Cap Rate 7%
$369,857
Cap Rate 9%
$287,667
Alternative Uses
Best Use
Multifamily LT 5
$369.9K
$323.6K – $431.5K
NOI $25,890 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$344.1K
$301.1K – $401.4K
NOI $24,085 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$565.3K
$494.6K – $659.5K
NOI $39,570 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,197
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property featuring a main house and two rental units.
Where is this duplex located?
The property is located at 2318 Coolidge St Hollywood, FL.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Rental income potential from two back house units (one currently rented at $700/month, one previously used as Airbnb).; Main house features desirable wood floors and central A/C.; Convenient location close to everything.
