Remodeled
For Sale
$989,000
2432 Sherman Street, Hollywood, FL 33020
Residential Income, Hollywood, FL
Property Size2,016 SF
Price / SF$490.58
Days on Market265
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 1, Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3
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: Sep 20
Last Checked: Sep 24 at 7:06PM
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 2,016-square-foot quadplex contains two two-bedroom, one-bath apartments and two studio units. Renovation work was completed in 2022 and included updated electrical panels, the roof, hurricane-impact windows, insulation, waterproof vinyl flooring, kitchen cabinetry, stainless steel appliances, and quartz countertops. The building also has washer and dryer hookups, two central A/C units serving the larger apartments, and mini-split A/C units in the studios.
The property is located at 2432 Sherman Street in Hollywood, Florida, near the beach. RM-9 zoning is reported, with block construction, composition shingle roofing, laminate flooring, a porch, and fencing. Cable is available, and the property was built in 1972.
The property is located at 2432 Sherman Street in Hollywood, Florida, near the beach. RM-9 zoning is reported, with block construction, composition shingle roofing, laminate flooring, a porch, and fencing. Cable is available, and the property was built in 1972.
Key Highlights
- 2,016 square feet with four residential units
- Unit mix includes two two‑bedroom, one‑bath apartments and two studios
- Renovation completed in 2022
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
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Current Use
Lease Details
4
Residential units
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
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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 - Four-unit layout includes two two-bedroom apartments and two studio units.
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: 2,016 square feet with four residential units; Unit mix includes two two‑bedroom, one‑bath apartments and two studios; Renovation completed in 2022
