2000 Buchanan St, Hollywood FL 33020
Hollywood, FL 33020
$6,000,000
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- Price
- $6,000,000
- Building size
- 14,550
- Property type
- Income/MultiFamily
- Year built
- 1962
- Lot size (sq ft)
- 20,500
- MLS number
- A12109921
This listing is courtesy of RE/MAX 5 Star Realty, 954-361-0000.
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!
Details
- Property type
- Income/MultiFamily
- Year built
- 1962
- Lot size (sq ft)
- 20,500
Location
Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.
Newmar Brokerage, LLC