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$ 6,000,000
Est. payment | /mo
14,550 SqFt
$ 6,000,000
Est. payment | /mo
14,550 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,550 sqft
Price per Sqft $412
MLS Listing ID A12109921
HOA Y/N No
Year Built 1962
Annual Tax Amount $2,879
Lot Size 0.471 Acres
Property Sub-Type Multi Family
Property Description
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!
Location
State FL
County Broward
Area 3050
Zoning DH-3
Exterior
Private Pool Yes
Others
Tax ID 514215NN0010
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12109921
Listed by RE/MAX 5 Star Realty
NEARBY SCHOOL & BUSINESS
7875 NW 57th St # 25497, Tamarac, Florida, 33351, United States