About This Property

22-unit multifamily investment opportunity just north of Downtown Hollywood! Offered at $6,000,000, this property features 14 one-bedroom and 8 two-bedroom apartments totaling approximately 14,550 SF of rentable unit area. The majority of unit interiors have been renovated, with updated flooring, lighting, ceiling fans, and select upgraded kitchens. Property features a gated landscaped courtyard, outdoor seating, on-site coin laundry, and off-street parking. Currently 72.7% occupied with 16 of 22 units leased, generating $346,752 in annualized rental income. Significant value-add potential through leasing six vacant units and bringing rents to projected market levels. Pro forma NOI of $312,063 and projected 5.20% cap rate. Conveniently located near Downtown Hollywood, Young Circle, University Station, Hollywood Beach, US-1, and I-95. Excellent opportunity in a growing South Florida market!

Key Features

• 20,500 SquareFeet Lot
• Built in 1962

Property Details

• Type: Single Family Home
• Year Built: 1962
• Lot Size: 20,500 sq ft
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: 20,500 SquareFeet Lot
• Feature: Built in 1962
• Status: Active
• MLS Number: 1193485774
• Days on Market: 5
• Listed By: RE/MAX 5 Star Realty · John DeMarco
• Zip Code: 33020