Hollywood Multifamily Investment
For Sale
$900,000
411 Columbus Parkway 1-5, Hollywood, FL 33021
Five multifamily units in Hollywood, Florida with cash-flow potential.
Property Size2,235 SF
Price / SF$402.68
Days on Market140
Property Features for 411 Columbus Parkway 1-5
General Information
Standard status
Active
Size
2,235 SF
Building Details
Year Built
1959
Listing Agency:
The Keyes Company
Listed By:
Federico Rochwerger PA
(561) 866-9616
Source:
Mymiahomes
Added: Apr 24
Changed: Aug 31
Last Checked: Sep 9 at 10:40PM
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
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 = 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
$37,253
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
4.14%
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%
$745,060
$745.1K
Cap Rate 7%
$532,186
$532.2K
Cap Rate 9%
$413,922
$413.9K
Market Conditions
NOI Build-Up for 2,235 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
$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 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%
$745,060
Cap Rate 7%
$532,186
Cap Rate 9%
$413,922
Alternative Uses
Best Use
Apartment 5plus
$532.2K
$465.7K – $620.9K
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
NOI $61,203 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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
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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.
