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2135-2237 Washington St 7 Unit Apartment Building $1,600,000 ($228,571/Unit) 3.51% Cap Rate Hollywood, FL 33020
INVESTMENT HIGHLIGHTS
- Location to Downtown Hollywood
- Proximity to other developed sites
EXECUTIVE SUMMARY
Exceptional redevelopment opportunity in the heart of Hollywood. This 0.53-acre parcel is zoned for up to 30 residential units, with architectural plans already available. The property currently includes seven fully leased rental units, providing consistent income while you move forward with entitlements. Positioned just one parcel west of a newly approved 96-unit affordable housing development on Dixie Highway, this site offers strong long-term growth potential. Possibility for land assemblage with adjacent parcels adds to the value of this strategic investment.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$78,300
|
$16.52
|
| Other Income |
$500
|
$0.11
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$78,800
|
$16.62
|
| Taxes |
$19,600
|
$4.14
|
| Operating Expenses |
$3,000
|
$0.63
|
| Total Expenses |
$22,600
|
$4.77
|
| Net Operating Income |
$56,200
|
$11.86
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $78,300 |
| Annual Per SF | $16.52 |
| Other Income | |
|---|---|
| Annual | $500 |
| Annual Per SF | $0.11 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $78,800 |
| Annual Per SF | $16.62 |
| Taxes | |
|---|---|
| Annual | $19,600 |
| Annual Per SF | $4.14 |
| Operating Expenses | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.63 |
| Total Expenses | |
|---|---|
| Annual | $22,600 |
| Annual Per SF | $4.77 |
| Net Operating Income | |
|---|---|
| Annual | $56,200 |
| Annual Per SF | $11.86 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 400 |
| 2+1 | 2 | - | 499 |
| 3+2 | 1 | - | 1,600 |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (72)
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The Real Estate Shoppe
2135-2237 Washington St
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