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2455 Polk St - THE LEISURE | 111% ROI 0.47 Acres of Residential Land Offered at $2,174,500 in Hollywood, FL 33020
Investment Highlights
- ?With conventional financing, an investor could achieve 111% of Net Investment Return
- Located in a well-established residential community surrounded by homes valued up to $7M+
- Home values in Florida have surged by 164% over the past decade - jumping from an average of $144,464 in 2013 to $381,922 in 2023
- Rapidly growing rental market with new leases surpassing $3/SQFT; New construction condo sales exceeding $700/SQFT
- Strong local school district and family-friendly amenities; Steady home price growth for 12 consecutive years
- Hollywood is booming with over $1.5B in real estate development surrounding Young Circle
Executive Summary
We’re pleased to present a rare shovel-ready development opportunity in the heart of Downtown Hollywood.?
This fully entitled 20,500 SF MC-1 zoned lot comes with approved construction plans and permits for a 3-story, 30-unit multifamily building.?
The project includes a mix of spacious 1- and 2-bedroom units, a rooftop deck with open-air pool, landscaped green space with BBQ area, and 42 covered parking spaces plus bicycle parking.?
With conventional financing, an investor could achieve 111% of Net Investment Return.?
Located just a 10-minute walk from Young Circle and an 8-minute drive to Hollywood Beach, this site offers unbeatable access to restaurants, arts, transit (US-1, I-95), and year-round coastal lifestyle.? All reports completed — geotechnical, zoning, site plan approval — allowing a buyer to close with permits in hand and begin construction immediately.?
This fully entitled 20,500 SF MC-1 zoned lot comes with approved construction plans and permits for a 3-story, 30-unit multifamily building.?
The project includes a mix of spacious 1- and 2-bedroom units, a rooftop deck with open-air pool, landscaped green space with BBQ area, and 42 covered parking spaces plus bicycle parking.?
With conventional financing, an investor could achieve 111% of Net Investment Return.?
Located just a 10-minute walk from Young Circle and an 8-minute drive to Hollywood Beach, this site offers unbeatable access to restaurants, arts, transit (US-1, I-95), and year-round coastal lifestyle.? All reports completed — geotechnical, zoning, site plan approval — allowing a buyer to close with permits in hand and begin construction immediately.?
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$1,150,800
|
$2,445,388.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$57,540
|
$122,269.44
|
| Effective Gross Income |
$1,093,260
|
$2,323,119.42
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$345,240
|
$733,616.66
|
| Net Operating Income |
$748,020
|
$1,589,502.76
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,150,800 |
| Annual Per AC | $2,445,388.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | $57,540 |
| Annual Per AC | $122,269.44 |
| Effective Gross Income | |
|---|---|
| Annual | $1,093,260 |
| Annual Per AC | $2,323,119.42 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $345,240 |
| Annual Per AC | $733,616.66 |
| Net Operating Income | |
|---|---|
| Annual | $748,020 |
| Annual Per AC | $1,589,502.76 |
Property Facts
| Price | $2,174,500 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.47 AC |
| Property Type | Land | ||
| Zoning | MC-1 - MULTI-FAMILY RESIDENTIAL CORE | ||
| Price | $2,174,500 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.47 AC |
| Zoning | MC-1 - MULTI-FAMILY RESIDENTIAL CORE |
1 Lot Available
Lot
| Price | $2,174,500 | Lot Size | 0.47 AC |
| Price Per AC | $4,620,549.71 |
| Price | $2,174,500 |
| Price Per AC | $4,620,549.71 |
| Lot Size | 0.47 AC |
This fully entitled 20,500 SF MC-1 zoned lot comes with approved construction plans and permits for a 3-story, 30-unit multifamily building.
Description
Project and plans include 27 units total: 15 units with 1 bed/1.1 bath, 10 units with 2 bed/2 bath and 5 unit with 2 bed/2.1 bath.?
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Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 51-42-16-01-6470 | Improvements Assessment | $0 |
| Land Assessment | $1,128,330 | Total Assessment | $1,128,330 |
Property Taxes
Parcel Number
51-42-16-01-6470
Land Assessment
$1,128,330
Improvements Assessment
$0
Total Assessment
$1,128,330
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2455 Polk St - THE LEISURE | 111% ROI