1948 Buchanan St - Hwd Downtown 9plex | Owner Financing 9 Unit Apartment Building Offered at $1,875,000 at a 4.88% Cap Rate Hollywood, FL 33020

Executive Summary
The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors.
As currently improved, the asset generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project.
Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities.
Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy.
Investment Highlights
Current Yield Strategy
Nine-unit multifamily assemblage with immediate income.
Estimated 5% in-place capitalization rate.
Rear gated parking area providing operational flexibility and tenant appeal.
Potential for continued rental growth through proactive asset management.
Enhanced Returns Through Seller Financing
Seller willing to hold a purchase money mortgage.
Approximately 40% down payment requirement.
Below-market interest rate.
Improved cash-on-cash returns and reduced equity exposure.
Ability to preserve capital for future value-add improvements or redevelopment planning.
Future Development Opportunity
Preliminary redevelopment potential of approximately 29 to 32 residential units.
Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity.
Opportunity to create substantial land value through future entitlement and development.
Existing income stream helps offset carrying costs during the planning and entitlement process.
The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.