Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    33 Allen Rd West Park, FL 33023

    • Residential income homes
    • 35,502 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9972482
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 33 Allen Rd

    Property size
    35,502 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of 26 single-family rental homes in desirable Broward County, Florida. Boasting 100% occupancy and a substantial Net Operating Income (NOI) of $578,500, this Class B portfolio offers a compelling 5.26% cap rate on an asking price of $11,003,000. The properties, totaling 35,502 square feet, average a price per unit of $423,192.31 and a price per square foot of $309.93. Strategically located across multiple cities within Broward County, including West Park, Hollywood, Fort Lauderdale, Miramar, and Lauderhill, these properties are situated in areas with high demand for single-family rentals. The portfolio presents a significant value-add opportunity through renovations and upgrades, promising increased rental income and substantial returns. While market risks inherent in real estate investment exist, the potential for growth and strong current performance make this a highly attractive proposition for investors seeking a stable, yet growth-oriented investment in the Florida market. The properties are zoned for residential use. Financial projections indicate a strong potential for annual returns in the 10-12% range, driven by rental income, cash flow, and property appreciation. This portfolio offers a unique blend of immediate income and long-term growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Park
    County
    Broward
    State
    Florida
    Longitude
    -80.201644409139
    Latitude
    25.98297176672

    Comparable in this City

    • $2,990,000

      Renovated Multifamily Property in West Park

      17-unit multifamily property with strong income potential in West Park.
      5807 SW 25Th St, Hollywood, FL 33023
      View Details
    • $600,000

      Hollywood Duplex on Corner Lot

      Duplex in Hollywood, FL with income potential.
      6044 Funston St, Hollywood, FL 33023
      View Details
    • $675,000

      Miramar Duplex with Rental Income

      Centrally located duplex in Miramar with rental income potential.
      2510 SW 62Nd Ave, Hollywood, FL 33023
      View Details
    • $3,200,000
      5,718 SF

      West Park Multifamily Investment

      17-Unit Stabilized Multifamily in Florida
      5807 25 St, West Park, FL 33023
      View Details
    • $475,000
      1,774 SF

      West Park Duplex For Sale

      Residential income property in West Park, Florida.
      5902 SW 26Th Ter, West Park, FL 33023
      View Details
    • $960,000

      New Construction Duplex For Sale

      New construction duplex with strong rental income potential.
      5250 SW 18Th St, Hollywood, FL 33023
      View Details

    Similar Nearby for Sale

    • $2,990,000

      Renovated Multifamily Property in West Park

      17-unit multifamily property with strong income potential in West Park.
      5807 SW 25Th St, Hollywood, FL 33023
      View Details
    • $600,000

      Hollywood Duplex on Corner Lot

      Duplex in Hollywood, FL with income potential.
      6044 Funston St, Hollywood, FL 33023
      View Details
    • $675,000

      Miramar Duplex with Rental Income

      Centrally located duplex in Miramar with rental income potential.
      2510 SW 62Nd Ave, Hollywood, FL 33023
      View Details
    • $3,200,000
      5,718 SF

      West Park Multifamily Investment

      17-Unit Stabilized Multifamily in Florida
      5807 25 St, West Park, FL 33023
      View Details
    • $475,000
      1,774 SF

      West Park Duplex For Sale

      Residential income property in West Park, Florida.
      5902 SW 26Th Ter, West Park, FL 33023
      View Details
    • $960,000

      New Construction Duplex For Sale

      New construction duplex with strong rental income potential.
      5250 SW 18Th St, Hollywood, FL 33023
      View Details

    Similar Nearby for Lease

    • $2,150 /Mo

      Spacious 3-Bedroom Apartment Available

      Centrally located, freshly painted 3-bedroom apartment for rent.
      6200 Dewey St, Hollywood, FL 33023
      View Details
    • $2,150 /Mo

      Spacious Miramar Apartment with Parking

      Refreshed 2 bed, 2 bath apartment with parking included.
      6046 SW 40Th St, Hollywood, FL 33023
      View Details
    • $1,575 /Mo

      Miramar Multifamily Unit For Rent

      Updated 1-bedroom apartment with private entrance and patio.
      2611 SW 62Nd Ave, Hollywood, FL 33023
      View Details
    • $2,400 /Mo

      Spacious 2 Bed Apartment For Rent

      Updated 2 bed, 2 bath unit with modern amenities.
      6040 SW 35Th St, Hollywood, FL 33023
      View Details
    • $2,100 /Mo

      Two-Bedroom Apartment in Fourplex

      Two-bedroom, one-bath apartment for rent in Pembroke Pines, Florida.
      6921 Pembroke Rd, Hollywood, FL 33023
      View Details
    • $2,060 /Mo

      Miramar Duplex Unit For Rent

      Spacious 2-bed, 1-bath duplex unit in a quiet neighborhood.
      6132 SW 39Th St, Hollywood, FL 33023
      View Details
    Request Owner's contact information
    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.
    33 Allen Rd
    West Park, FL 33023
    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
    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

    Google sign-in failed. Please try again or use another login method.