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Lighthouse Apartments 1946 Pierce St 11 Unit Apartment Building $2,350,000 ($213,636/Unit) 7.05% Cap Rate Hollywood, FL 33020
Investment Highlights
- Matthews™ is pleased to present 1946 Pierce St, an 11-unit multifamily property located in the core Hollywood submarket of Hollywood, Florida. The pro
- From an investment standpoint, the property offers a clear mark-to-market value-add opportunity, with in-place rents approximately 11% below prevailin
- The asset is strategically positioned near Downtown Hollywood, US-1, I-95, and Fort Lauderdale–Hollywood International Airport, offering tenants conve
- At the $2.35M list price, the asset is positioned to attract investors seeking a modernized, stabilized Hollywood multifamily asset with durable cash
Executive Summary
Broker of Record
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $2,350,000 | Building Class | C |
| Price Per Unit | $213,636 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| Cap Rate | 7.05% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1957/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | ND-2 - https://codelibrary.amlegal.com/codes/hollywood/latest/hollywoodldr_fl/0-0-0-946 | ||
| Price | $2,350,000 |
| Price Per Unit | $213,636 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1957/2024 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | ND-2 - https://codelibrary.amlegal.com/codes/hollywood/latest/hollywoodldr_fl/0-0-0-946 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Den
- Double Pane Windows
- Island Kitchen
- Large Bedrooms
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Waterfront
- Smoke Free
- Trash Pickup - Curbside
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 10 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 51-42-15-01-3550 | Improvements Assessment | $1,573,440 |
| Land Assessment | $98,160 | Total Assessment | $1,671,600 |
Property Taxes
Parcel Number
51-42-15-01-3550
Land Assessment
$98,160
Improvements Assessment
$1,573,440
Total Assessment
$1,671,600
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Lighthouse Apartments | 1946 Pierce St
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