Legal Duplex Income
For Sale
$575,000
2322 Taft Street, Hollywood, FL 33020
Legal duplex with two currently rented units, producing monthly income and offering owner-user or redevelopment flexibility.
Property Size2,281 SF
Price / SF$252.08
Days on Market226
Property Features for 2322 Taft Street
General Information
Standard status
Active
Size
2,281 SF
Property subtype
Residential Income / Duplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,244
Building Details
Year Built
1949
Tenancy
Multi
Listing Agency:
Fathom Realty FL, LLC
Listed By:
Alter Gambarte · License #3223344
(877) 661-1977
Source:
Compass
Added: Jan 24
Changed: Sep 6
Last Checked: Sep 6 at 4:34PM
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 Fathom Realty FL, LLC
Investment Insights
Based on property information with market context.
This legal duplex at 2322 Taft St, Hollywood, FL 33020 offers a flexible layout designed for multiple occupancy options. The property is currently income-producing, with the front unit rented at $2,300 per month and the rear unit rented at $1,650 per month.
The duplex sits on a generously sized lot and is positioned in the Hollywood Park area near the Hollywood East corridor. The location provides convenient access to Downtown Hollywood, beaches, US-1, I-95, Fort Lauderdale Airport, as well as shopping, dining, and entertainment.
The building’s configuration supports long-term rental use or potential future repositioning. Buyers should independently verify zoning, use, dimensions, and any future development potential.
The duplex sits on a generously sized lot and is positioned in the Hollywood Park area near the Hollywood East corridor. The location provides convenient access to Downtown Hollywood, beaches, US-1, I-95, Fort Lauderdale Airport, as well as shopping, dining, and entertainment.
The building’s configuration supports long-term rental use or potential future repositioning. Buyers should independently verify zoning, use, dimensions, and any future development potential.
Key Highlights
- Legal duplex built in 1949 with approx. 2,300 SF of living area
- Front unit currently rented for $2,300/month and rear unit rented for $1,650/month
- Income‑producing property with two distinct rental units
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
$40,869
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
7.11%
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%
$817,380
$817.4K
Cap Rate 7%
$583,843
$583.8K
Cap Rate 9%
$454,100
$454.1K
Market Conditions
NOI Build-Up for 2,281 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
$61.6K $27.00/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$58.4K $25.60/SF
− OpEx
−$17.5K −$7.68/SF
NOI
$40.9K $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%
$817,380
Cap Rate 7%
$583,843
Cap Rate 9%
$454,100
Alternative Uses
Best Use
Multifamily LT 5
$583.8K
$510.9K – $681.2K
NOI $40,869 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$543.1K
$475.3K – $633.7K
NOI $38,020 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$892.3K
$780.8K – $1.04M
NOI $62,463 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,320
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 - Legal duplex with two currently rented units, producing monthly income and offering owner-user or redevelopment flexibility.
Where is this duplex located?
The property is located at 2322 Taft Street Hollywood, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Legal duplex built in 1949 with approx. 2,300 SF of living area; Front unit currently rented for $2,300/month and rear unit rented for $1,650/month; Income‑producing property with two distinct rental units
