Turnkey Legal Duplex
For Sale
$685,000
316 N 61st Avenue, Hollywood, FL 33024
Turnkey legal duplex with two renovated units, including impact windows, in-unit laundry, and newer A/C systems.
Property Size1,567 SF
Price / SF$437.14
Days on Market11
Property Features for 316 N 61st Avenue
General Information
Standard status
Active
Size
1,567 SF
Property subtype
Duplex
Additional Details
Furnished
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1989
Listing Agency:
EXP Realty South LLC
(786) 425-7774
Listed By:
Romain Rene Liberman · License #3176578
(786) 425-7774
Source:
Lehmannflorida
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 31 at 5:34AM
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 EXP Realty South LLC
Investment Insights
Based on property information with market context.
Turnkey legal duplex offering two renovated units designed for rental-ready occupancy. The front and rear units feature modern kitchens and bathrooms, stylish flooring, zebra shades, hurricane-impact windows and doors, and full-size washers and dryers. Major improvements include new A/C systems in 2021, with water heaters replaced in 2022 and 2023.
Located in Hollywood, Florida, the property is positioned near major highways and within minutes of Downtown Hollywood and Hollywood Beach. It is also close to Memorial Regional Hospital and the Hard Rock Hotel & Casino, with shopping and dining nearby.
With both units updated and move-in ready, the duplex presents a straightforward configuration for owner-occupants or investors seeking a turnkey rental property.
Located in Hollywood, Florida, the property is positioned near major highways and within minutes of Downtown Hollywood and Hollywood Beach. It is also close to Memorial Regional Hospital and the Hard Rock Hotel & Casino, with shopping and dining nearby.
With both units updated and move-in ready, the duplex presents a straightforward configuration for owner-occupants or investors seeking a turnkey rental property.
Key Highlights
- Legal duplex built in 1989 with two renovated units and no HOA
- Both units feature renovated kitchens and bathrooms, modern flooring, zebra shades, and hurricane‑impact windows and doors
- Front unit is fully furnished and move‑in ready for short-, mid-, or long‑term rental
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.3k | $27.00 |
| − Vacancy | −$2.2k | −$1.40 |
| EGI | $40.1k | $25.60 |
| − OpEx | −$12.0k | −$7.68 |
| NOI | $28.1k | $17.92 |
1,567 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$401.1K
$351.0K – $467.9K
NOI $28,076 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$373.1K
$326.5K – $435.3K
NOI $26,119 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$613.0K
$536.4K – $715.2K
NOI $42,911 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 33024, FL
74,843
Population
26,552
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
11.6 sq mi
ZIP Area
6,452
Density / Sq Mi
$76,501
Median Household Income
$38,144
Median Earnings
$1,724
Median Rent
$365,200
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 - Turnkey legal duplex with two renovated units, including impact windows, in-unit laundry, and newer A/C systems.
Where is this duplex located?
The property is located at 316 N 61st Avenue Hollywood, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Legal duplex built in 1989 with two renovated units and no HOA; Both units feature renovated kitchens and bathrooms, modern flooring, zebra shades, and hurricane‑impact windows and doors; Front unit is fully furnished and move‑in ready for short-, mid-, or long‑term rental
