Two-Unit Duplex with Impact
New
For Sale
$549,000
506 N 56th Ave, Hollywood, FL 33021
Vacant units provide flexibility for immediate occupancy or new leasing, with central air conditioning in both residences.
Property Size1,601 SF
Price / SF$342.91
Days on Market4
Property Features for 506 N 56th Ave
General Information
Standard status
Active
Size
1,601 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RM-9
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,306
Building Details
Building Size
1,601 SF
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Yvrose Thomas · License #3354551
(305) 244-2937
Source:
Anhaltrealestate
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:39PM
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 United Realty Group Inc
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Investment Insights
Based on property information with market context.
This single-story duplex contains two vacant residences, each configured with two bedrooms and one bathroom. The property totals approximately 1,601 square feet and was built in 1960. Both units have central A/C, impact windows, and new air-conditioning equipment and water heaters. A new roof is scheduled for installation before closing, and the property includes approximately four parking spaces.
Located at 506 N 56th Ave in Hollywood, the duplex is described as near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. The property is zoned RM-9.
Located at 506 N 56th Ave in Hollywood, the duplex is described as near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. The property is zoned RM-9.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Approximately 1,601 square feet in total
- Central A/C and impact windows in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,685
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,700
$573.7K
Cap Rate 7%
$409,786
$409.8K
Cap Rate 9%
$318,722
$318.7K
Market Conditions
NOI Build-Up for 1,601 SF
Gross rent
$43.2K $27.00/SF
− Vacancy
−$2.2K −$1.40/SF
EGI
$41.0K $25.60/SF
− OpEx
−$12.3K −$7.68/SF
NOI
$28.7K $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 Rate 5%
$573,700
Cap Rate 7%
$409,786
Cap Rate 9%
$318,722
Alternative Uses
Best Use
Multifamily LT 5
$409.8K
$358.6K – $478.1K
NOI $28,685 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$381.2K
$333.6K – $444.8K
NOI $26,685 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$626.3K
$548.0K – $730.7K
NOI $43,842 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,546
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant units provide flexibility for immediate occupancy or new leasing, with central air conditioning in both residences.
Where is this duplex located?
The property is located at 506 N 56th Ave Hollywood, FL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Approximately 1,601 square feet in total; Central A/C and impact windows in both units
