Remodeled Hollywood Fourplex Near
For Sale
$989,000
2432 Sherman St, Hollywood, FL 33020
Fully remodeled fourplex near the beach, ideal for investors.
Property Size2,016 SF
Days on Market186
Property Features for 2432 Sherman St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Investment
Site & Location
Neighborhood
North Central
Taxes and HOA fees
Annual Taxes
$16,327
Building Details
Building Size
2,016 SF
Year Built
1972
Units
4
Listing Agency:
Fidelity Real Estate Group LLC
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Elliman
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 24 at 4:39PM
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 Fidelity Real Estate Group LLC
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Investment Insights
Based on property information with market context.
This Hollywood fourplex, remodeled in 2022, is located near the beach. The building comprises two 2-bedroom, 1-bath units and two studio apartments. The remodel included new electric panels, a roof, hurricane impact windows, insulation, and waterproof vinyl flooring. The two-bedroom units have central A/C, while the studios feature split mini A/Cs. All kitchens are equipped with wood cabinets, stainless steel appliances, and quartz countertops. Washer and dryer hookups are available, offering the potential for coin-operated machines to generate additional income. The property is suitable for owner-occupants, investors, or Airbnb ventures. The projected annual gross income is $88,800, with annual expenses of $28,307, including $16,327 in taxes, $600 for landscaping, $5,500 for insurance, $1,080 for water, and $4,800 for electricity. The property has a bike score of 67, indicating it is bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 41, indicating some transit options are available.
Key Highlights
- Fully remodeled in 2022 with new electric panels, roof, hurricane impact windows, insulation, waterproof vinyl flooring, kitchens, and A/C units.
- Four units: two 2‑bedroom/1‑bath and two studios.
- Projected annual gross income of $88,800.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,121
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,420
$722.4K
Cap Rate 7%
$516,014
$516.0K
Cap Rate 9%
$401,344
$401.3K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$54.4K $27.00/SF
− Vacancy
−$2.8K −$1.40/SF
EGI
$51.6K $25.60/SF
− OpEx
−$15.5K −$7.68/SF
NOI
$36.1K $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 Rate 5%
$722,420
Cap Rate 7%
$516,014
Cap Rate 9%
$401,344
Alternative Uses
Best Use
Multifamily LT 5
$516.0K
$451.5K – $602.0K
NOI $36,121 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$480.0K
$420.0K – $560.1K
NOI $33,603 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$788.7K
$690.1K – $920.1K
NOI $55,206 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,752
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully remodeled fourplex near the beach, ideal for investors.
Where is this quadplex located?
The property is located at 2432 Sherman St Hollywood, FL.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Fully remodeled in 2022 with **new electric panels, roof, hurricane impact windows, insulation, waterproof vinyl flooring, kitchens, and A/C units.**; Four units: two 2‑bedroom/1‑bath and two studios.; Projected annual gross income of $88,800.
