Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2240 Simms St Hollywood, FL 33020

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turn-key apartment building, great income!

    Property Features for 2240 Simms St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1952
    Stories
    2

    We can help!

    Listing Contact
    Matan Derhy
    Matan Derhy

    Listing Agency: golani realty inc Listing Agent: Matan Derhy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional turn-key investment opportunity presents a meticulously maintained two-story apartment building located at 2240 Simms St, Hollywood, Florida 33020, in Broward County. Built in 1952, this property offers four identical 2-bedroom, 1-bathroom units, each boasting approximately 800 square feet of living space. Each unit features its own dedicated parking space and a separate breaker panel for enhanced safety and convenience. Recent upgrades include a new roof (installed in 2019), new air conditioning units, and new washer/dryer sets in every unit. The interiors are beautifully appointed with ceramic flooring, crown molding, and recessed LED lighting, creating a bright and inviting atmosphere. Kitchens are tastefully designed and equipped with modern appliances, including dishwashers, and stylish granite countertops. The property presents an amazing income opportunity for savvy investors seeking a well-maintained, high-performing asset in a desirable location. This is a truly move-in ready investment, requiring minimal effort to generate immediate returns. The property's strong rental history and consistent cash flow make it an attractive addition to any portfolio. Don't miss this chance to acquire a prime multifamily property in the thriving Hollywood, Florida market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1528825
    Latitude
    26.0362145

    Nearby Similar for Sale

    • New
      $749,000
      1,755 SF

      Versatile Commercial Property in Hollywood

      Ideal for retail, office, studio, showroom, or industrial use.
      3000 N 22Nd Ave, Hollywood, FL 33020
      View Details
    • $699,000
      1,286 SF

      Freestanding Office on Corner Lot

      Freestanding office building with high visibility and ample parking.
      5820 Sheridan St, Hollywood, FL 33021
      View Details
    • $865,000
      1,251 SF

      Renovated Office Space Near Beach

      Turnkey commercial space ideal for spa or medical office.
      3800 S Ocean Dr, Hollywood, FL 33019
      View Details
    • $350,000

      Turnkey Restaurant Lounge in Hollywood

      Turnkey restaurant lounge with licenses near Hard Rock Hotel.
      5650 Stirling Rd, Hollywood, FL 33021
      View Details
    • $350,000

      Turnkey Beauty Salon Opportunity

      Profitable beauty salon in high-traffic Hollywood location with loyal clientele.
      627 S State Road 7, Hollywood, FL 33023
      View Details
    • $110,000

      Established Italian Gourmet Market/Deli

      Turnkey Italian market/deli business opportunity in downtown Hollywood, Florida.
      2000 Harrison St, Hollywood, FL 33020
      View Details
    • $699,000
      2,741 SF

      Miramar Renovated Versatile Commercial Building

      Recently renovated 2,741 SF building in a strategic Miramar location.
      2120 SW 60Th Ter, Hollywood, FL 33023
      View Details
    • $499,000

      Restaurant and Lounge on Hollywood Boulevard

      Two commercial spaces with restaurant and lounge in Hollywood, Florida.
      1936 Hollywood Blvd, Hollywood, FL 33020
      View Details
    • $1,149,995
      3,500 SF

      Hollywood Assisted Living Facility Opportunity

      Large home ideal for assisted living or group home.
      3211 Calle Largo Dr, Hollywood, FL 33021
      View Details
    • $3,688,000

      Remodeled Office Building on Corner Lot

      Freestanding, remodeled commercial building suitable for office or mixed-use purposes.
      7700 Davie Road Ext, Hollywood, FL 33024
      View Details
    • New
      $870,000
      2,511 SF

      Renovated Fourplex in Central Hollywood

      Multi-use property with upgrades, ideal for investors or multi-generational living.
      2001 N 22Nd Ave, Hollywood, FL 33020
      View Details
    • $79,000
      2,200 SF

      Kosher Commercial Bakery/Kitchen For Sale

      Turnkey 2,200 sqft kosher commercial bakery/kitchen in Hollywood, FL.
      Hollywood, FL 33020
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Turn-key apartment building, great income!
    Where is this multifamily property located?
    The property is located at 2240 Simms St Hollywood, FL.
    What is the asking price?
    The asking price for this property is $919,900.
    What are key features of this property?
    This property features: $919,900 asking price.; Multifamily apartment building (duplex/triplex/quadruplex).; Built in 1952, two stories.
    (786) 328-4131 Call to check price and availability
    Request Owner's contact information
    2240 Simms St Hollywood, FL 33020
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2240 Simms St
    Hollywood, FL 33020
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2240 Simms St Hollywood, FL 33020
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matan Derhy
    Matan Derhy
    Real Estate License ID: 3525897
    (786) 328-4131 (305) 833-1888 (786) 586-8740
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!