Hollywood Duplex Near New
For Sale
Contact for pricing
2020 Madison St, Hollywood, FL 33020
Duplex in prime location near downtown Hollywood and beaches.
Property Size1,086 SF
Price / SF$455.80
Days on Market873
Property Features for 2020 Madison St
General Information
Standard status
Active
Size
1,086 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
DH-3
Building Details
Year Built
1946
Units
1
Listing Agency:
RE/MAX 5 Star Realty
Listed By:
Alejandro Bruno · License #3118923
(954) 673-7739
Source:
Crexi
Added: Jun 3, 2024
Changed: Oct 11
Last Checked: Oct 20 at 6:26PM
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 RE/MAX 5 Star Realty
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Investment Insights
Based on property information with market context.
This property presents an investor opportunity in a location surrounded by new developments. Zoned for mixed-use development up to 10 stories, not to exceed 140 feet, with a maximum floor area ratio (FAR) of 3.00. The property is located minutes from Downtown Hollywood, beaches, and local events. The property contains two units. Unit #1, previously owner-occupied, was updated 7 years ago with modern kitchen cabinets, countertops, and a gas stove. Unit #2 is vacant and includes an electric stove. Both units have separate electric panels. The property features fruit trees, a detached laundry room, and two parking spaces, one per unit. There is a single water meter. A new roof was installed in 2018. The plumbing under both kitchens has been updated. Termite tenting was performed 5 years ago, with a clean inspection on June 2nd. A 4-point inspection was completed in July. The property size is 1,086 square feet.
Key Highlights
- Zoned Mixed Use, 10 Stories (up to 140 ft), MAX FAR of 3.00: Ideal for development.
- Unbeatable location: Minutes from Downtown Hollywood and beaches.
- New roof (2018) and updated plumbing under both kitchens.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,458
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,160
$389.2K
Cap Rate 7%
$277,971
$278.0K
Cap Rate 9%
$216,200
$216.2K
Market Conditions
NOI Build-Up for 1,086 SF
Gross rent
$29.3K $27.00/SF
− Vacancy
−$1.5K −$1.40/SF
EGI
$27.8K $25.60/SF
− OpEx
−$8.3K −$7.68/SF
NOI
$19.5K $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%
$389,160
Cap Rate 7%
$277,971
Cap Rate 9%
$216,200
Alternative Uses
Best Use
Multifamily LT 5
$278.0K
$243.2K – $324.3K
NOI $19,458 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$258.6K
$226.3K – $301.7K
NOI $18,101 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$424.8K
$371.7K – $495.7K
NOI $29,739 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,969
Businesses Nearby
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Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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 - Duplex in prime location near downtown Hollywood and beaches.
Where is this duplex located?
The property is located at 2020 Madison St Hollywood, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Zoned Mixed Use, 10 Stories (up to 140 ft), MAX FAR of 3.00: Ideal for development.; Unbeatable location: Minutes from Downtown Hollywood and beaches.; New roof (2018) and updated plumbing under both kitchens.
