Rare 14 Unit building in the heart of Hollywood. Well maintained. Modern updated recently including cabinetry, stainless steel appliances, granite or quartz counter tops, modern ceramic tile. Units include central HVAC units & electric hot water tanks. All units feature impact windows & new impact doors. The 1br/1ba units are large and can potentially be converted to add another room or den! Seller Financing Available! 100% occupied! 13 large 1/1 units & 1 large 2/1 unit. Building has security camera system & coin laundry facility. Property has high elevation & ample parking at 2 spaces per unit. All annual leases. Excellent income producing property in Hollywood east of US1 near Hollywood Beach Golf Club, close to to restaurants, shopping, beaches, minutes to Fort Lauderdale Airport. All units are annual leases. Market rents for the 1br/1ba units are $2,100 $2,200. New tenants leasing in the $2,100 $2,200 range. Asking current cap rate is ~6.40%. Excellent very well maintained and modern renovated building. 13 of 14 units updated. The unit that is not updated is in very good shape with a very long term tenant who helps watch over the building. Seller raising rents to $2,100 $2,200 for each 1/1 unit as leases expire. Pro forma gross income is $378,600+ for 2024+ and current/actual EGI is $365,400 with a NOI of $294,454. Room to add pool in the courtyard area. Seller negotiable.
Rare 14 Unit building in the heart of Hollywood. Well maintained. Modern updated recently including cabinetry, stainless steel appliances, granite or quartz counter tops, modern ceramic tile. Units include central HVAC units & electric hot water tanks. All units feature impact windows & new impact doors. The 1br/1ba units are large and can potentially be converted to add another room or den! Seller Financing Available! 100% occupied! 13 large 1/1 units & 1 large 2/1 unit. Building has security camera system & coin laundry facility. Property has high elevation & ample parking at 2 spaces per unit. All annual leases. Excellent income producing property in Hollywood east of US1 near Hollywood Beach Golf Club, close to to restaurants, shopping, beaches, minutes to Fort Lauderdale Airport. All units are annual leases. Market rents for the 1br/1ba units are $2,100 $2,200. New tenants leasing in the $2,100 $2,200 range. Asking current cap rate is ~6.40%. Excellent very well maintained and modern renovated building. 13 of 14 units updated. The unit that is not updated is in very good shape with a very long term tenant who helps watch over the building. Seller raising rents to $2,100 $2,200 for each 1/1 unit as leases expire. Pro forma gross income is $378,600+ for 2024+ and current/actual EGI is $365,400 with a NOI of $294,454. Room to add pool in the courtyard area. Seller negotiable.
Features
Building and Construction
Flooring: Ceramic Tile
Roof: Composition
Land Information
Lot Features: Room for Pool
Eco-Communities
Water Source: Public
Utilities
Cooling: Central Air, Electric
Electric: Three Phase
Heating: Central, Electric
Road Frontage Type: East of US-1
Sewer: Public Sewer
Utilities: Cable Available, Sewer Available, Water Available
Amenities
Association Amenities: None
Finance and Tax Information
Tax Year: 2023
Rental Information
Tenant Pays: Cable TV, Electricity
Other Features
Legal Description: HOLLYWOOD COUNTRY CLUB DISTRICT DIV A 8-15 B LOT 13, 14 BLK 3
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