Property
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Lot Size: | 0.5 Acres |
Financials
Price:$6,000,000
Annual Taxes:$2,879
Listing Courtesy of RE/MAX 5 Star Realty
22 unit multifamily investment opportunity just north of Downtown Hollywood !
Multi-story exterior featuring a neutral-toned stucco facade, designated asphalt surface parking, and manicured green space
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!
Virtual Tour: https://www.propertypanorama.com/instaview/mia/A12109921
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
