Remodeled Quadplex with
For Sale
$989,000
2432 Sherman Street, Hollywood, FL 33020
MULTI_FAMILY - Hollywood, FL
Property Size2,016 SF
Price / SF$490.58
Days on Market217
Property Features for 2432 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-9
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 1
Window features
Blinds
Patio and Porch features
Porch
Fencing
Fenced
Subdivision
Hollywood Park 4-19 B
Directions
From Sheridan St & Federal HWY. Head west on FL-822 W/Sheridan St toward N 19th Ave/SW 2nd Ave. Turn left onto N 24th Ave. Turn right onto Sherman St Destination will be on the left
Standard status
Active
APN
514209056510
Size
2,016 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
HOLLYWOOD PARK 4-19 B LOT 16 BLK 40
Tax Annual Amount
16327
Legal Description
HOLLYWOOD PARK 4-19 B LOT 16 BLK 40
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
washer/dryer hookups
Building Details
Year built
1972
Floors in Building
1
Number of units
4
Flooring type
Laminate
Building materials
Block
Roof type
Composition, Shingle
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Jan 2
Changed: Aug 5
Last Checked: Aug 7 at 2:06AM
MLS# F10543163
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This remodeled quadplex offers a total of four residential units: two two-bedroom, one-bath units and two studio apartments. The remodel was completed in 2022 and includes updates such as all electric panels, a new roof, hurricane impact windows, insulation, waterproof vinyl flooring, and updated heating and cooling. The two-bedroom units are served by two central A/C units, while the studio apartments use split mini A/C systems. Kitchens feature wood cabinets, stainless steel appliances, and quartz countertops, and the building includes washer/dryer hookups. A porch and fenced exterior area are also part of the property.
Constructed with block materials and built in 1972, the property is approximately 2,016 square feet. It is zoned RM-9 and includes central heating and central air cooling, with cable available.
The unit mix supports flexible occupancy options, including owner-occupant use or investor use for short-term or longer-term rentals.
Constructed with block materials and built in 1972, the property is approximately 2,016 square feet. It is zoned RM-9 and includes central heating and central air cooling, with cable available.
The unit mix supports flexible occupancy options, including owner-occupant use or investor use for short-term or longer-term rentals.
Key Highlights
- Four‑unit quadplex with two two‑bedroom one‑bath units and two studio apartments
- Remodel completed in 2022: new roof, hurricane impact windows, upgraded electric panels
- Two‑bedroom units: two central A/C units; studio apartments: split mini A/C
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
$36,121
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
3.65%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,392
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?
Quadplex - Remodeled quadplex in RM-9 zoning with two two-bedroom units and two studios, central A/C and porch.
Where is this quadplex located?
The property is located at 2432 Sherman Street 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: Four‑unit quadplex with two two‑bedroom one‑bath units and two studio apartments; Remodel completed in 2022: new roof, hurricane impact windows, upgraded electric panels; Two‑bedroom units: two central A/C units; studio apartments: split mini A/C
