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$2,499,000
Est. payment /mo
7,551 SqFt
UPDATED:
10/21/2024 03:41 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,551 sqft
Price per Sqft $330
MLS Listing ID A11572661
HOA Y/N No
Year Built 1972
Annual Tax Amount $33,050
Lot Size 0.471 Acres
Property Description
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.
Location
State FL
County Broward
Area 3050
Others
Tax ID 514216013280
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Listed by Apex International Realty, LLC.
Learn More About LPT Realty