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Adams Street Apartments 2223 Adams St 10 Unit Apartment Building $1,850,000 ($185,000/Unit) 6.44% Cap Rate Hollywood, FL 33020
Investment Highlights
- New Metal Roof And Mini-Split AC Systems Throughout
- Four Carports Provide Potential Additional Income Stream
- Prime Hollywood Location Near Downtown, The Beach, And Major Transportation Corridors
- 8 Of 10 Units Renovated With Granite Countertops And Shaker Cabinetry
- 10 Spacious 1 Bed / 1 Bath Units Averaging 726 SF
Executive Summary
Marcus & Millichap is pleased to present Adams Street Apartments, a 10-unit multifamily property located at 2221–2223 Adams Street in Hollywood, Florida. The property consists entirely of one-bedroom/one-bathroom units averaging 726 square feet, offering spacious layouts in a high-demand rental corridor.
The asset has recently undergone significant improvements, including a new metal roof, mini-split air conditioning systems throughout, and ongoing parking lot restriping, enhancing both curb appeal and operational efficiency. Eight of the ten units have been renovated, featuring granite countertops and shaker-style cabinetry, providing immediate upside through continued interior upgrades and rent optimization. The property also includes four carports, creating an additional income opportunity.
Strategically positioned just minutes from Downtown Hollywood, Young Circle, and Hollywood Beach, the property benefits from strong local demand driven by hospitality, retail, and healthcare employment. With proximity to US-1, I-95, and the Brightline station, Adams Street Apartments offers tenants convenient connectivity throughout Broward and Miami-Dade Counties.
Adams Street Apartments presents an attractive opportunity to acquire a well-located, partially renovated multifamily asset in one of South Florida’s most active rental submarkets, with continued value-add potential and durable long-term fundamentals.
The asset has recently undergone significant improvements, including a new metal roof, mini-split air conditioning systems throughout, and ongoing parking lot restriping, enhancing both curb appeal and operational efficiency. Eight of the ten units have been renovated, featuring granite countertops and shaker-style cabinetry, providing immediate upside through continued interior upgrades and rent optimization. The property also includes four carports, creating an additional income opportunity.
Strategically positioned just minutes from Downtown Hollywood, Young Circle, and Hollywood Beach, the property benefits from strong local demand driven by hospitality, retail, and healthcare employment. With proximity to US-1, I-95, and the Brightline station, Adams Street Apartments offers tenants convenient connectivity throughout Broward and Miami-Dade Counties.
Adams Street Apartments presents an attractive opportunity to acquire a well-located, partially renovated multifamily asset in one of South Florida’s most active rental submarkets, with continued value-add potential and durable long-term fundamentals.
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- Offering Memorandum
Property Facts
| Price | $1,850,000 | Apartment Style | Garden |
| Price Per Unit | $185,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 6.44% | Building Size | 7,263 SF |
| Gross Rent Multiplier | 12.43 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.93/1,000 SF |
| Zoning | RM-18 - Residential Medium Density | ||
| Price | $1,850,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| Gross Rent Multiplier | 12.43 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 7,263 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | RM-18 - Residential Medium Density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,275 | 726 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51-42-16-01-1510 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,383,780 |
Property Taxes
Parcel Number
51-42-16-01-1510
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,383,780
Contacts
-
Dillon Majeski -
Daniel Cunningham -
Evan Richardson -
River Rhoads -
Cory Sanchez -
Jason Nowik -
Marcus & Millichap
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Adams Street Apartments | 2223 Adams St
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