Building Details

Year Built 1959

Listing Agency: The Keyes Company

Listed By: Federico Rochwerger PA Show Phone

Source: Mymiahomes

Added: Apr 24 Changed: Oct 25 Last Checked: Oct 7 at 4:19PM

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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 The Keyes Company

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Investment Insights

Based on property information with market context.

This property features five multifamily units in Hollywood, Florida, offering an excellent cash-flow opportunity. The unit mix includes two studios and three 1/1 units. Located in a peaceful, well-maintained neighborhood, the property is approximately 2 miles from I-95. A laundry room is located on site and includes a coin-operated washer and dryer under a lease agreement. The property can be maintained as-is for cash flow or redeveloped as single or multifamily housing with a density of up to 18 dwelling units per acre, zoned SR7 RM-18. The property may be sold together with a duplex at 2322 Johnson Street, combining for a total of seven units across 0.86 acres. The surrounding area has a walk score of 35, indicating car-dependent transit, a bike score of 31, indicating it is somewhat bikeable, and a transit score of 28, indicating some transit options are available.

Key Highlights

• Excellent cash‑flow opportunity with long‑term tenants already in place.
• Located in Hollywood, Florida, just 2 miles from I‑95.
• Consists of 5 multifamily units: two studios and three 1/1's.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,253

Cap Rate

4.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$745,060 $745.1K

Cap Rate 7%

$532,186 $532.2K

Cap Rate 9%

$413,922 $413.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,235 SF

Gross rent

$71.1K $31.80/SF

− Vacancy

−$3.3K −$1.49/SF

EGI

$67.7K $30.31/SF

− OpEx

−$30.5K −$13.64/SF

NOI

$37.3K $16.67/SF

Area

Hollywood, FL

Vacancy

4.70%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$745,060

Cap Rate 7%

$532,186

Cap Rate 9%

$413,922

Alternative Uses

Best Use

Apartment 5plus

$532.2K

$465.7K – $620.9K (±1% cap)

NOI $37,253 @ 7.0% cap · market cap 4.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$874.3K

$765.0K – $1.02M (±1% cap)

NOI $61,203 @ 7.0% cap · market cap 6.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Location Intelligence

Trade Area within ½ mile

1,478

Businesses Nearby

Explore this area Business Placement

Demographics for 33021, FL

50,091

Population

21,930

Households

2.3

Avg Household Size

43

Median Age

38%

College-Educated

91%

High-School Grad

8.8 sq mi

ZIP Area

5,692

Density / Sq Mi

$69,249

Median Household Income

$41,390

Median Earnings

$1,707

Median Rent

$395,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Five multifamily units in Hollywood, Florida with cash-flow potential.

Where is this apartment building located?

The property is located at 411 Columbus Parkway 1-5 Hollywood, FL.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Excellent cash‑flow opportunity with long‑term tenants already in place.; Located in Hollywood, Florida, just 2 miles from I‑95.; Consists of 5 multifamily units: two studios and three 1/1's.