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Roosevelt Apartments 1927- 1929 Roosevelt st 10 Unit Apartment Building $2,250,000 ($225,000/Unit) 6.38% Cap Rate Hollywood, FL 33020



Investment Highlights
- Value-Add Investment Opportunity: Below-market rents provide significant upside through repositioning.
- Diverse Unit Mix: Ten units ranging from studios to spacious two-bedroom apartments.
- Flexible Lease Structure: Predominantly month-to-month tenancies allow for operational optimization.
- Projected 8% Cap Rate: Opportunity to achieve $173,150 in NOI at market rents.
- Low-Maintenance Improvements: Impact windows and a durable tile roof help reduce capital expenditures.
- Prime Hollywood Location: Minutes from Downtown Hollywood, the beach, the airport, and Interstate 95.
Executive Summary
1927 and 1929 Roosevelt Street is a 10-unit multifamily investment opportunity consisting of two 2-bedroom/2-bath units, two 2-bedroom/1-bath units, four 1-bedroom/1-bath units, and two studio units. The property offers a well-balanced unit mix that transitions from larger two-bedroom units to smaller one-bedroom and studio apartments, allowing investors to capture demand from a variety of tenant profiles. The asset features impact windows, a durable tile roof, and ample on-site parking, helping minimize near-term capital expenditures while supporting long-term operational efficiency. The property is currently operated with below-market rents and predominantly month-to-month tenancies, providing a clear value-add opportunity for new ownership. By bringing rents to market levels, ownership can achieve a projected NOI of approximately $173,150. Located in one of South Florida's strongest rental markets, the property is approximately 5 minutes from Downtown Hollywood, 10 minutes from the beach, 8 minutes from Fort Lauderdale-Hollywood International Airport, and offers convenient access to Interstate 95 and other major transportation corridors. This is an attractive opportunity for investors seeking stable cash flow with significant upside potential.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$237,300
|
$36.79
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$237,300
|
$36.79
|
| Taxes |
$33,000
|
$5.12
|
| Operating Expenses |
$31,150
|
$4.83
|
| Total Expenses |
$64,150
|
$9.95
|
| Net Operating Income |
$173,150
|
$26.84
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $237,300 |
| Annual Per SF | $36.79 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $237,300 |
| Annual Per SF | $36.79 |
| Taxes | |
|---|---|
| Annual | $33,000 |
| Annual Per SF | $5.12 |
| Operating Expenses | |
|---|---|
| Annual | $31,150 |
| Annual Per SF | $4.83 |
| Total Expenses | |
|---|---|
| Annual | $64,150 |
| Annual Per SF | $9.95 |
| Net Operating Income | |
|---|---|
| Annual | $173,150 |
| Annual Per SF | $26.84 |
Property Facts
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 6.38% | Building Size | 6,450 SF |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | ||
| Zoning | T2 - Multifamily | ||
| Price | $2,250,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 6.38% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 6,450 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Zoning | T2 - Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
| 2+2 | 2 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 51-42-03-10-4330 | Total Assessment | $628,510 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | $33,000 ($5.12/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2027 |
Property Taxes
Parcel Number
51-42-03-10-4330
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$628,510 (2026)
Annual Taxes
$33,000 ($5.12/SF)
Tax Year
2027
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Roosevelt Apartments | 1927- 1929 Roosevelt st
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