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6 Unit in Hollywood Lakes 206 S 15th Ave 6 Unit Apartment Building $1,599,000 ($266,500/Unit) 6.49% Cap Rate Hollywood, FL 33020
INVESTMENT HIGHLIGHTS
- Fully Occupied with a $10,400 monthly rent roll with room to increase to market rates!
- Unit Mix: Two (2) Units are 2 Bed/1Bath, Three (3)units are 1 Bed/1Bath and 1 Studio Unit + Coin Laundry Room
- Prime Location in Hollywood Lakes: Steps from Young Circle, dining, shopping, and minutes to the beach
- 2 Structures on a Corner Lot in a Prime Location. Brand New Roof 2024!
EXECUTIVE SUMMARY
Fausto Commercial proudly presents 206 S 15th Ave, a unique 6-unit multifamily property located on a corner lot in the sought-after Hollywood Lakes area of downtown Hollywood. The property consists of two buildings with a well-balanced unit mix: two 2-bed/1-bath units, three 1-bed/1-bath units, and one studio. Fully leased and featuring a coin-operated laundry room for added income, this asset is ideally positioned near restaurants, bars, shopping, and just minutes from the beach. Recent improvements, including a new roof and updated landscaping, enhance its appeal, with projected pro forma gross income expected to increase to $142,400 annually.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$142,200
|
$38.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,200
|
$38.58
|
| Taxes |
$27,000
|
$7.33
|
| Operating Expenses |
$11,460
|
$3.11
|
| Total Expenses |
$38,460
|
$10.43
|
| Net Operating Income |
$103,740
|
$28.14
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $142,200 |
| Annual Per SF | $38.58 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,200 |
| Annual Per SF | $38.58 |
| Taxes | |
|---|---|
| Annual | $27,000 |
| Annual Per SF | $7.33 |
| Operating Expenses | |
|---|---|
| Annual | $11,460 |
| Annual Per SF | $3.11 |
| Total Expenses | |
|---|---|
| Annual | $38,460 |
| Annual Per SF | $10.43 |
| Net Operating Income | |
|---|---|
| Annual | $103,740 |
| Annual Per SF | $28.14 |
PROPERTY FACTS
| Price | $1,599,000 | Apartment Style | Low-Rise |
| Price Per Unit | $266,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.49% | Building Size | 3,686 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1930 |
| Zoning | Rs-6, Hollywood - RS-6 zoning permits up to six detached homes per acre, ideal for low-density residential development in suburban Broward County. | ||
| Price | $1,599,000 |
| Price Per Unit | $266,500 |
| Sale Type | Investment |
| Cap Rate | 6.49% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,686 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1930 |
| Zoning | Rs-6, Hollywood - RS-6 zoning permits up to six detached homes per acre, ideal for low-density residential development in suburban Broward County. |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,600 | - |
| 1+1 | 3 | $1,900 | - |
| 2+1 | 2 | $2,200 | - |
PROPERTY TAXES
| Parcel Number | 51-42-15-02-4590 | Total Assessment | $604,320 |
| Land Assessment | $0 | Annual Taxes | $27,000 ($7.33/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
51-42-15-02-4590
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$604,320
Annual Taxes
$27,000 ($7.33/SF)
Tax Year
2025
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6 Unit in Hollywood Lakes | 206 S 15th Ave
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