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… Read More 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! Read Less
Courtesy of RE/MAX 5 Star Realty 954-361-0000
Listing Snapshot
Days Online
5
Last Updated
Property Type
Multi Family
Square Ft.
14,550
Lot Size
0.47 Acres
Year Built
1962
MLS Number
A12109921
Additional Details
Building
Built in 1962
Lot
0.47 acres
Taxes
Parcel Number: 514215NN0010, Annual Amount: $2,879, Legal Description: BONNIE VILLA APTS CO-OP UNIT 1, Zoning: DH-3
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