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1711 Buchanan St 4 Unit Apartment Building $799,000 ($199,750/Unit) 6.97% Cap Rate Hollywood, FL 33020
Investment Highlights
- All units are 1 Bed/1 Bath
- East of US-1 in Hollywood Lakes just a Few Minutes Away from Young Circle and the Beach
- Monthly Income is $5200 with Upside by Increasing to Market Rates
- Desirable FH2 zoned lot, allowing for potential redevelopment of up to 22 residential units up to 14 stories high
Executive Summary
Best fourplex deal in East Hollywood! Introducing 1711 Buchanan St, an exceptional fourplex in the desirable Hollywood Lakes, East of US-1. This property features four 1-bed/1-bath units, all currently fully occupied and generating $5,200 a month in income, with potential for even more by adjusting rents to market rates. The property has one electric and water meter. Additionally, this property sits on an FH2 zoned lot, allowing for potential redevelopment of up to 22 residential units up to 14 stories high.
Financial Summary (Pro Forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$78,600
|
$50.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$78,600
|
$50.35
|
| Taxes |
$10,000
|
$6.41
|
| Operating Expenses |
$12,900
|
$8.26
|
| Total Expenses |
$22,900
|
$14.67
|
| Net Operating Income |
$55,700
|
$35.68
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $78,600 |
| Annual Per SF | $50.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $78,600 |
| Annual Per SF | $50.35 |
| Taxes | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $6.41 |
| Operating Expenses | |
|---|---|
| Annual | $12,900 |
| Annual Per SF | $8.26 |
| Total Expenses | |
|---|---|
| Annual | $22,900 |
| Annual Per SF | $14.67 |
| Net Operating Income | |
|---|---|
| Annual | $55,700 |
| Annual Per SF | $35.68 |
Property Facts
| Price | $799,000 | Building Class | C |
| Price Per Unit | $199,750 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 1,561 SF |
| Cap Rate | 6.97% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | FH-2 - Build up to 22 residential units up to 14 stories high. | ||
| Price | $799,000 |
| Price Per Unit | $199,750 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 1,561 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1951 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | FH-2 - Build up to 22 residential units up to 14 stories high. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,600 | - |
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 51-42-15-02-0340 | Total Assessment | $446,740 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | $10,000 ($6.41/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
51-42-15-02-0340
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$446,740 (2026)
Annual Taxes
$10,000 ($6.41/SF)
Tax Year
2024
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1711 Buchanan St
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