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2323 Polk St - 2323 Polk St 0.47 Acres of Residential Land Offered at $2,396,500 in Hollywood, FL 33020
INVESTMENT HIGHLIGHTS
- 20,515 SF infill site with approved plans for 27 units and 56 parking spaces
- Signed & sealed architectural and civil plans included
- Income-producing triplex generating ~$60,000/year
- DH-2 zoning allows medium-intensity multifamily up to 45 ft
EXECUTIVE SUMMARY
Existing triplex generates approximately $60,000 per year, and the buyer may choose to receive the property with tenants in place—a major advantage that provides cash flow while advancing the project toward groundbreaking.
Key highlights:
*) Asking price: $2,396,500
*) 4-story, 27-unit multifamily design (primarily 2BR/2BA) with 56 parking spaces
*) Strong condo upside: nearby Gaia Residences averaging $850/SF
*) Dual exit strategies: boutique condo or luxury rental community
*) DH-2 zoning with potential eligibility for workforce or live-work incentives
A rare chance to acquire an income-supported development site with substantial long-term upside and a streamlined path to permitting.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
PROPERTY FACTS
| Price | $2,396,500 | Property Subtype | Residential |
| Sale Type | Investment or Owner User | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.47 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | ||
| Zoning | DH-2 - Highway Medium Intensity Multi-Family District, four-story, 27-unit residential building with 56 Parkings | ||
| Price | $2,396,500 |
| Sale Type | Investment or Owner User |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.47 AC |
| No. Stories | 1 |
| Zoning | DH-2 - Highway Medium Intensity Multi-Family District, four-story, 27-unit residential building with 56 Parkings |
1 LOT AVAILABLE
Lot
| Price | $2,396,500 | Lot Size | 0.47 AC |
| Price Per AC | $5,088,110.40 |
| Price | $2,396,500 |
| Price Per AC | $5,088,110.40 |
| Lot Size | 0.47 AC |
Downtown Hollywood Regional Activity Center (DH-2 zoning). The 20,515 SF lot currently includes an income-producing triplex. Ready for 4-story, 27-unit multifamily project
DESCRIPTION
Prime infill redevelopment site located within the Downtown Hollywood Regional Activity Center (DH-2 zoning). The 20,515 SF lot currently includes an income-producing triplex, giving buyers the option to acquire the property with tenants in place or delivered vacant. Keeping tenants provides the advantage of immediate cash flow during the pre-construction period, offsetting holding costs while final permits are completed. The offering includes signed and sealed architectural and civil plans for a 4-story, 27-unit multifamily project. Several departmental sign-offs have already been obtained, and the development is advancing toward full building permit approval. Excellent location within walking distance to Downtown Hollywood, Dixie Highway, transit, and multiple new developments.
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2323 Polk St - 2323 Polk St
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