Two-Unit Duplex with Impact
New
For Sale
$549,000
506 N 56th Ave, Hollywood, FL 33021
Residential Income, Hollywood, FL
Property Size1,601 SF
Price / SF$342.91
Days on Market1
Property Features for 506 N 56th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-9
Parking
4
Subdivision
HOLLYWOOD BEACH GARDENS
Lot features
1/4 to 1/2 Acre Lot
Directions
From Hollywood Blvd, head north on N 56th Ave. Property is located at 506-508 N 56th Ave, Hollywood, FL 33021. Use GPS for most accurate directions.
Standard status
Active
APN
514113022700
Size
1,601 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD BEACH GARDENS CORR PLAT 10-14 B LOT 29,30 BLK 24
Tax Annual Amount
9306
Legal Description
HOLLYWOOD BEACH GARDENS CORR PLAT 10-14 B LOT 29,30 BLK 24
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Amenities
central A/C
impact windows
Building Details
Year built
1960
Floors in Building
1
Flooring type
Vinyl, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Yvrose Thomas · License #3354551
(305) 244-2937
Added: Oct 2
Last Checked: Oct 2 at 9:06PM
MLS# A12078988
Copyright © 2026 Miami REALTORS®. 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 single-story duplex contains two 2-bedroom, 1-bath residences with 1,601 square feet of combined living area. Both units are vacant. Impact windows, central air conditioning, and new AC systems and water heaters in both residences are among the property’s features. The building was constructed in 1960 with block construction, vinyl and ceramic tile flooring, and a shingle roof.
The property is in Hollywood, Florida, near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. Approximately four parking spaces are available on site. Heating and cooling are central, and the property uses a septic tank.
The property is in Hollywood, Florida, near shopping centers, restaurants, major roadways, and the Seminole Hard Rock Hotel & Casino. Approximately four parking spaces are available on site. Heating and cooling are central, and the property uses a septic tank.
Key Highlights
- Two 2‑bedroom, 1‑bath units with 1,601 square feet total living area
- Both units are vacant
- New AC systems and water heaters in both units
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
$28,685
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
5.22%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are vacant and feature central air conditioning, with recently installed cooling systems and water heaters in each.
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 with 1,601 square feet total living area; Both units are vacant; New AC systems and water heaters in both units
