Basics
- Category: CommercialSale
- Type: Multifamily
- Status: Active
- Bathrooms: 0
- Lot size: 20501, 20501 sq ft
- Year built: 1972
- County: Broward
- MLS ID: A11572661
Description
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Description:
HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7 Exceptional investment opportunity in Hollywood, Florida! A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. What sets this property apart is its approved zoning by the City of Hollywood, paving the way for a new 4-floor structure to be built. This expansion would increase income by aligning rents with market rates and adding more units. The owner provides favorable financing terms, requiring only a 30% down payment. Financing is available through a 25-year amortized note, with a balloon payment due in 5 years, offering flexibility for interested parties to discuss specific terms later. Positioned in a prime location, the property is conveniently close to the beach, restaurants, shops, nightlife, and highways.
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Building Details
- Structure Type: Apartment
- Covered Spaces: 0
Expenses, Fees & Taxes
- Tax Annual Amount: $33,050
Miscellaneous
- List Office Name: Apex International Realty, LLC.
Ask our real estate expert about this property
This Multifamily-type commercial real estate is located in FL, Hollywood was built in 1972, and is listed at $2,499,000.