$1,225,000
$1,450,000
15.5%For more information regarding the value of a property, please contact us for a free consultation.
5,302 Sqft Lot
SOLD DATE : 11/15/2024
Key Details
Sold Price $1,225,000
Property Type Multi-Family
Sub Type Income/Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID F10432430
Sold Date 11/15/24
Construction Status Resale
HOA Y/N No
Total Fin. Sqft 10604
Year Built 1964
Annual Tax Amount $15,196
Tax Year 2023
Lot Size 5,302 Sqft
Property Description
Seller will entertain offers. Price reduced. The subject property is 2contiguous 4plexes located in central Hollywood & contains eight (1/1) apartments. The property presents itself as a value-add opportunity due to the rents being approximately over 50% below market value with each unit renting at approximately $1000 per month. Market rent is estimated at $1500 per month.
Hollywood is experiencing a tremendous renaissance with the majority of new construction consisting of residential development. The area is considered to have the 2nd largest supply pipeline across all Fort Lauderdale submarkets where over 70% of the new residential supply set to be delivered will be luxury rentals.
The subject provides an opportunity to take advantage of the value add by repositioning the asset
Location
State FL
County Broward County
Area Hollywood Central (3070-3100)
Zoning RS-6
Exterior
Water Access N
Roof Type Comp Shingle Roof
Private Pool No
Building
Story 1.0000
Foundation Concrete Block Construction
Water Public Water
Construction Status Resale
Others
Pets Allowed No
Acceptable Financing Cash, Conventional/Refinance
Listing Terms Cash, Conventional/Refinance
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