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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DAYS ON MARKET
|
12
|
LAST UPDATED
|
4/22/2024
|
|
YEAR BUILT
|
1972
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COMMUNITY
|
3050
|
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COUNTY
|
Broward
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STATUS
|
Active
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PROPERTY TYPE(S)
|
Commercial
|
|
|
| AREA |
3050 |
| BUYER'S BROKERAGE COMPENSATION |
2% |
| LOT |
20501 acre(s) |
| TAXES |
33050 |
| ZONING |
TC-1 |
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Listed with Apex International Realty, LLC.
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Data last updated: 5/3/24 9:11 PM PDT.
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