Six-Unit Apartment
For Sale
$1,690,000
6101 Garfield St, Hollywood, FL 33024
Six-unit apartment building with updated kitchens, on-site parking, and full occupancy.
Property Size3,902 SF
Days on Market165
Property Features for 6101 Garfield St
General Information
Standard status
Active
Size
3,902 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$16,142
Amenities
on-site parking
Building Details
Building Size
3,902 SF
Year Built
1974
Listing Agency:
Adonait Business LLC
Listed By:
Daniel Gleizer · License #3242460
(954) 594-4900
Source:
Elliman
Added: Mar 27
Changed: Aug 25
Last Checked: Sep 6 at 6:08AM
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 Adonait Business LLC
Investment Insights
Based on property information with market context.
This six-unit apartment building offers spacious living spaces with updated kitchens and comfortable bedrooms. The property is described as well-maintained and includes on-site parking for residents.
The building is located in Hollywood, Florida, with access to public transport and nearby shopping and dining options. WalkScore is noted as 67 and transitScore as 41, with bikeScore listed as 60.
The property is fully rented. A 40/10-year certificate is noted as completed in January 2025.
The building is located in Hollywood, Florida, with access to public transport and nearby shopping and dining options. WalkScore is noted as 67 and transitScore as 41, with bikeScore listed as 60.
The property is fully rented. A 40/10-year certificate is noted as completed in January 2025.
Key Highlights
- 6‑unit apartment building built in 1974
- Fully rented property (as stated); 40‑year certificates of occupancy reported as done Jan 2025
- Updated kitchens and comfortable bedrooms throughout the 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
$65,038
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
3.85%
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%
$1,300,760
$1.3M
Cap Rate 7%
$929,114
$929.1K
Cap Rate 9%
$722,644
$722.6K
Market Conditions
NOI Build-Up for 3,902 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
$124.1K $31.80/SF
− Vacancy
−$5.8K −$1.49/SF
EGI
$118.3K $30.31/SF
− OpEx
−$53.2K −$13.64/SF
NOI
$65.0K $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%
$1,300,760
Cap Rate 7%
$929,114
Cap Rate 9%
$722,644
Alternative Uses
Best Use
Apartment 5plus
$929.1K
$813.0K – $1.08M
NOI $65,038 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,852 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,145
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?
Apartment building - Six-unit apartment building with updated kitchens, on-site parking, and full occupancy.
Where is this apartment building located?
The property is located at 6101 Garfield St Hollywood, FL.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 6‑unit apartment building built in 1974; Fully rented property (as stated); 40‑year certificates of occupancy reported as done Jan 2025; Updated kitchens and comfortable bedrooms throughout the units
