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2247 Simms St
Hollywood, FL 33020
Simms Apartments · Multifamily Property For Sale
·
7 Units
Investment Highlights
- Strong In-Place Cash Flow: Generating approximately $80,718 in annual NOI with a 6.23% cap rate.
- Low Capital Expenditure Asset: Impact windows and a 2016 roof help reduce near-term ownership costs.
- Efficient 7-Unit Property: Well-sized asset offering straightforward management and operations.
- Renovated Apartment Community: Seven one-bedroom units featuring central A/C and stainless steel appliances.
- Future Rental Upside: Opportunity to increase revenue through continued rent growth.
- Prime Hollywood Location: Minutes from Downtown Hollywood, Hollywood Beach, the airport, and Interstate 95.
Executive Summary
2247 Simms Street is a 7-unit multifamily property located in the heart of Hollywood, Florida, consisting of seven 1-bedroom/1-bath units within a 3,164 SF building. The property is currently generating approximately $80,718 in NOI, representing a 6.23% cap rate at the asking price, with additional upside through future rent growth. The asset features impact windows, central A/C throughout, stainless steel appliances, and a 2016 roof, minimizing near-term capital expenditures. Ideally situated just 5 minutes from Downtown Hollywood, 10 minutes from Hollywood Beach, and 8 minutes from Fort Lauderdale-Hollywood International Airport, with convenient access to Interstate 95, the property benefits from strong tenant demand and proximity to major employment, dining, retail, and entertainment destinations, making it an attractive investment opportunity in one of South Florida's most active rental markets.
Property Facts
| Price Per Unit | $185,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.23% | Building Size | 3,200 SF |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 2.19/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RS-1 - Residential Multi Family | ||
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,200 SF |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 2.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RS-1 - Residential Multi Family |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 736 |
Property Taxes
| Parcel Number | 51-42-04-01-1280 | Improvements Assessment | $1,155,530 |
| Land Assessment | $48,010 | Total Assessment | $1,203,540 |
Property Taxes
Parcel Number
51-42-04-01-1280
Land Assessment
$48,010
Improvements Assessment
$1,155,530
Total Assessment
$1,203,540
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