Parkside & Royal Poinciana Multifamily Market Report: 2–20 Unit Investment Trends

Parkside & Royal Poinciana

Hottest Two Hollywood Neighborhoods
Bookending the Circle & Downtown

Is now the right time to sell?

Mid Core Market Analysis 2-20 Units

861 Properties and 3,536 Apartment Units

Parkside and Royal Poinciana are adjacent neighborhoods near Downtown Hollywood characterized by older, low- to mid-density residential stock. A notable feature is the prevalence of small multifamily buildings (duplexes up to 20-unit apartments), which make up a large share of the housing in these neighborhoods. According to the data on “Mid-Core Residential Income Properties (2–20 Units),” there are a total of 836 such buildings, containing about 3,536 apartment units in Parkside and Royal Poinciana combined.

Discover why now is the ideal time to sell your 2-20 unit property in Parkside & Royal Poinciana. Market data shows strong demand and rising prices.

Parkside and Royal Poinciana’s mid-core housing stock is experiencing upward price pressure, strong buyer activity, and a shifting pricing landscape. This neighborhood serves as the missing middle — bridging Class C legacy rentals and Class A towers under construction nearby.

If you’re targeting this market as a value-add investor, these trends show a window of opportunityto secure mid-scale multifamily assets before pricing catches up with the downtown Hollywood transformation.

Mid-Core 2-20 Housing Stock

According to the data on “Mid-Core Residential Income Properties (2–20 Units),” there are a total of 836 such buildings, containing about 3,536 apartment units in Parkside and Royal Poinciana combined. The table below breaks down these properties by size:

Property Types No Bldgs. per Property Type Units per Property Type

Property Types	Number of Buildings	Total Unit Count /Property Type
2 Plex	328	656
3 Plex	148	444
4 Plex	160	640
5 Plex	43	215
6 Plex	26	156
7 Plex	18	126
8 Plex	34	272
9 Plex	10	90
10 Plex	20	200
11 Plex	5	55
12 Plex	9	108
13 Plex	3	39
14 Plex	8	112
15 Plex	2	30
16 Plex	7	112
17 Plex	1	17
18 Plex	6	108
19 Plex	4	76
20 Plex	4	80

As shown above, duplexes (2-unit buildings) are the most common, accounting for nearly 40% of these structures (328 buildings with 656 total units). Triplexes and fourplexes are also prevalent – together, 3- and 4-unit buildings add up to over 300 properties. In fact, buildings with 2–4 units comprise roughly three-quarters of all small apartments by building count. Larger low-rise apartment buildings (8–20 units each) exist but are relatively few; for example, only four buildings have 20 units each (the maximum in this category). This indicates that the area’s rental housing is dominated by small-scale multifamily dwellings, typical of mid-20th-century urban neighborhoods.

In addition to these multifamily properties, Parkside and Royal Poinciana do include some single-family homes and a handful of larger complexes. However, the bulk of the housing stock is older and modest in scale. The median construction year is 1962, reflecting that many structures are several decades old (often 1950s–1960s vintage). Consequently, unit sizes and amenities may be older as well, though some properties could have been updated over time.

Market Momentum: 12.4% Value Increase in Just 12 Months

Metric	Last 12 Months	12–24 Months Ago	Δ Change
Total Sales Volume	$28.66M	$25.51M	+12.4%
# Properties Sold	50	40	+25%
# Units Sold	107	111	▼ (–4 units)
Average Sale Price/Unit	$265,267	$235,918	+12.4%
Average List Price/Unit	$293,824	$248,048	+18.5%
Average Price/Sq Ft (Sold)	$325	$346.53	▼ (–6.2%)

Expert Analysis: “Parkside and Royal Poinciana’s mid-core housing stock is experiencing upward price pressure and strong buyer activity. This neighborhood bridges Class C legacy rentals and Class A towers under construction.”

📊 Implications for Parkside & Royal Poinciana Market • Mid-core inventory (2–4 units) continues to be a highly active and resilient asset class. • Cap rate compression is likely occurring, especially with more investor competition and limited new inventory in this size bracket. • Owner-operators and small syndicators remain the most likely buyers, drawn by price points under $300K/unit and below $350/SF. • Demand is likely fueled by broader rent growth in Downtown Hollywood, spurred by new high-rise development and spillover effects.

Mid-Core On-Market: Parkside & Royal Poinciana

Market Composition

• Total Listings: 77 active multifamily properties (Duplex, Triplex, Fourplex).
• Aggregate Market Value: $65,424,696.
• Dominant Asset Class: Duplexes make up the largest share (42 listings, ~55% of inventory).
• Unit Pricing: Across all property types, the price per unit ranges from $277K to $348K, reflecting a mid-core position—higher than typical Class C assets but below luxury multifamily pricing. Note form many of these listing the price per unit is not reflective of its transaction zone.

Property Type Breakdown

Property Type	Share of Listings	Aggregate List Price	Avg. Price per Unit	Notes
Duplex	54.5% (42 listings)	$29.26M	$348,288	Highest per-unit pricing; often renovated or positioned for strong rental income.
Triplex	15.6% (12 listings)	$10.67M	$296,361	Mid-tier unit pricing; attractive to investors seeking better yield vs. duplexes.
Fourplex	29.9% (23 listings)	$25.50M	$277,168	Lowest per-unit pricing; often older stock with value-add potential.

Inventory & Pricing

• Your listing counts (42 duplexes, 12 triplexes, 23 fourplexes) reflect a healthy supply of mid‑core multifamily assets in the ~700K to 1.1M price tier.
• These assets sit above the median single‑family home price in Parkside ($265K) and align with or slightly exceed averages in Royal Poinciana (~$418K), suggesting they appeal to investors or income‑focused buyers rather than owner‑occupant locals.

Demand & Rental Profile

• Royal Poinciana’s population skews toward renter occupancy (≈85%) and smaller unit types (studios up to two‑bedrooms dominate), consistent with the prevalence of multifamily buildings in that sub‑market NeighborhoodScout.
• Parkside, with lower density and larger lot sizes, may attract owners as well as rental investors looking for duplexes with potential to convert.

Market Conditions

• In both neighborhoods, market activity is muted and not overheated—transaction timelines hover around 50–85 days depending on type and location.
• Sale-to-list ratios hover in the low to mid‑90s, indicating pricing flexibility and room for negotiation

How can you stand out from the crowd?

Select a Broker Who Delivers Measurable Results

When it comes to maximizing value in the Mid-Core multifamily market, success requires more than simply listing a property—it demands strategic execution, precise market knowledge, and proven results.

The Right Broker Will:

• Provide accurate, data-driven pricing guidance to position your asset competitively from day one.
• Deliver superior, high-impact marketing materials that showcase your property’s strengths and value-add potential.
• Leverage a deep understanding of the Parkside and Royal Poinciana markets, ensuring insight-driven recommendations.
• Deploy the proprietary Mid-Core Strategic Sales Advantage™ platform to maximize sale price and compress timelines—unlocking equity faster for our clients.
• Execute a controlled exposure strategy, reaching over 600,000 targeted recipients through our proprietary seller’s platform, alongside LoopNet, Crexi, CoStar, MLS, and global online syndication.
• Possess superior negotiation skills that protect seller value at every stage.
• Anticipate and mitigate potential challenges throughout the transaction, increasing the probability of a successful close.

Proven Performance:
Peter Dacko has personally closed $491,000,000 in sales volume across 454 transactions—a track record that reflects market expertise, precision execution, and consistent results.

Real Estate Development Trends in Downtown Hollywood

Downtown Hollywood (centered around Hollywood Boulevard and Young Circle near Parkside and Royal Poinciana) is experiencing a wave of real estate development in recent years. City initiatives – such as the Regional Activity Center (RAC) zoning adopted in 2016 – have encouraged higher-density, mixed-use projects in the downtown core. As a result, multiple mid- and high-rise developments have been completed or announced, bringing hundreds of new housing units to the market. Below is a summary of major recent and planned developments in Downtown Hollywood, particularly those noted in the “construction book” and other sources:

Major Project (Downtown Hollywood)	No. Units	Status (Approx. Completion)
Circ Residences & Hotel (Young Circle)	386	Completed 2018 (25-story tower, includes Publix grocery)
Block 40 (Hollywood Blvd at Young Circle)	273	Completed 2023 (mixed-use, 19-story rental apartments)
The Bread Building (1740 S. Young Circle)	362	Under construction (topped off 2024) – 25-story luxury rental tower
BTI “B57” Twin Towers (E. Young Circle)	802	Planned/Approved (two 35-story towers on Young Circle’s east side)floridayimby.comfloridayimby.com
Soleste Hollywood Blvd (ex-SunTrust site)	324	Planned/Approved (8-story, ~30K sq ft retail; by Estate Cos.)
University Station (21st Ave & Polk St)	216	Under construction (opens 2025) – 100% affordable/workforce housing, 8-story project in partnership with Cityhtgf.comhtgf.com
Revv Hollywood (N. 19th Ave)	180	Under construction (8-story rental, foundation poured Jan 2024)
One Hollywood Residences (1817 Taylor St)	248	Planned (sales launched 2024; 23-story luxury condominium tower)
Jackson Street Apts (1830-1844 Jackson St)	200	Proposed (13-story rental building pending approval)

As the table illustrates, over 1,500 new housing units are recently built, under construction, or planned in the downtown area. This construction boom marks a dramatic increase in housing supply for Hollywood’s center.

Market implications: The influx of new housing in downtown Hollywood is reshaping the local real estate market. For decades, Hollywood’s downtown had relatively low rents and older buildings, struggling to attract major investment. Now, developers are betting on demand for upscale living in a centrally located, transit-accessible city between Miami and Fort Lauderdale

Downtown Hollywood is undergoing rapid change. The housing stock in Parkside and Royal Poinciana, once dominated by small, aging apartments, is now being augmented by modern high-rises and mid-rises.

Demographics and market trends are intertwined in this transition: the area’s relatively low incomes and small households underscore the need for affordable housing even as luxury projects rise. The new developments – from the affordable University Station to the upscale condo towers – will diversify the housing options, potentially attracting a mix of new residents (young professionals, retirees from out of state, etc.) into the urban core increasing demand and pushing value.

Going forward, the character of Parkside and Royal Poinciana will likely be influenced by these trends. Older 2- to 4-unit buildings may see pressure for renovation or redevelopment, especially on valuable land near the new projects. The population may grow and potentially become more affluent on average if higher-earning residents move into the new luxury units. However, the neighborhoods’ fundamental identity – a diverse, majority-renter community – is likely to persist in the near term. The recent and planned developments in Downtown Hollywood align with broader South Florida trends of urban revitalization and infill.

Royal Poinciana Neighborhood Utility Upgrade

A major sewer and water infrastructure project was undertaken by the City of Hollywood in Royal Poinciana, with construction carried out by Lanzo Construction Company. Completed in phases through December 2022, the project included:

• 26,310 linear feet of new sanitary sewer mains
• 2,800 linear feet of sanitary force mains
• A central sanitary sewer lift station
• Replacement of 84,600 linear feet of water mains and 1,135 water service lines
• Road restoration and utility connections across area from US‑1 to North 21st Avenue, between Hollywood Boulevard and Sheridan Street

Mandatory Connection Requirement

Under the City of Hollywood municipal code (Chapter 52):

• Property owners must connect to the public sewer system within 90 days of availability, meaning septic systems must be decommissioned once public sewer is accessible.
• Only Florida‑licensed master plumbers may perform the connection, and permits must be obtained from both building and utilities departments.
• Property owners bear 100% of the connection costs, including abandonment of septic tanks and necessary inspections/tests
• Any property not connected to the sewer will pay water treatment fees even though the waste water is not being treated by the city.
• The city has programs to help finance impact fees.