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Simms Apartments 2247 Simms St 7 Unit Apartment Building $1,831,065 CAD ($261,581 CAD/Unit) 6.23% Cap Rate Hollywood, FL 33020
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.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$183,248
|
$57.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$183,248
|
$57.26
|
| Taxes |
$34,616
|
$10.82
|
| Operating Expenses |
$34,500
|
$10.78
|
| Total Expenses |
$69,117
|
$21.60
|
| Net Operating Income |
$114,131
|
$35.67
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $183,248 |
| Annual Per SF | $57.26 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $183,248 |
| Annual Per SF | $57.26 |
| Taxes (CAD) | |
|---|---|
| Annual | $34,616 |
| Annual Per SF | $10.82 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $34,500 |
| Annual Per SF | $10.78 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,117 |
| Annual Per SF | $21.60 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $114,131 |
| Annual Per SF | $35.67 |
Property Facts
| Price | $1,831,065 CAD | Building Class | C |
| Price Per Unit | $261,581 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 3,200 SF |
| Cap Rate | 6.23% | No. Stories | 1 |
| No. Units | 7 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 2.19/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RS-1 - Residential Multi Family | ||
| Price | $1,831,065 CAD |
| Price Per Unit | $261,581 CAD |
| 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
- Microwave
- Security System
- Refrigerator
- Oven
- Sprinkler System
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 736 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51-42-04-01-1280 | Total Assessment | $1,684,631 CAD (2026) |
| Land Assessment | $67,201 CAD (2026) | Annual Taxes | $34,616 CAD ($10.82 CAD/SF) |
| Improvements Assessment | $1,617,430 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
51-42-04-01-1280
Land Assessment
$67,201 CAD (2026)
Improvements Assessment
$1,617,430 CAD (2026)
Total Assessment
$1,684,631 CAD (2026)
Annual Taxes
$34,616 CAD ($10.82 CAD/SF)
Tax Year
2025
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Simms Apartments | 2247 Simms St
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