PROPERTY DESCRIPTION

SUPER RARE!! 14-Unit Building For-Sale in the heart of downtown Hollywood. Very well-maintained. High-end updated/renovated building. All units updated modern including cabinetry, stainless steel appliances, granite or quartz counter tops, modern ceramic tile. All units include central HVAC units & water heaters. All units feature impact windows & stunning new impact doors. All 1br/1ba units are so large they can be converted to 2br units! No vacancies! 13 huge 1br/1ba units & 1 huge 2br/1ba unit. Building has security camera system & coin laundry facility. Property has high elevation & ample parking. Excellent income producing property in Hollywood Lakes next door to Hollywood Beach Golf Club, east of US1 close to restaurants, shopping, beaches & minutes to Fort Lauderdale Int'l Airport. All units are annual leases. Market rents for the 1br/1ba units are $2,100-$2,200. Last 5 leases were rented in the $2,000-$2,200 range. New roof 2017. Asking cap rate is 5.07%. Excellent very well-maintained and updated modern renovated building. 13 of 14 units updated. Last unit that is not updated is in 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 this/next year 2023-2024. Room to add pool in the courtyard area.