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Isle Of Venice Condominiums 2775 Taft St 27 Unit Apartment Building $5,265,000 ($195,000/Unit) 6.29% Cap Rate Hollywood, FL 33020
Investment Highlights
- Rare Condo Portfolio Opportunity: Acquire 27 of 36 condominium units with the potential to acquire remaining units over time.
- Major Capital Improvements Completed: New roof completed in 2025, new elevator installed in 2024, and passed 50-year recertification in 2026.
- Long-Term Upside Potential: Opportunity for future dock additions and continued value growth in a prime Hollywood Hills location.
- Strong Day-One Returns: Fully occupied asset operating at approximately a 6.3% going-in cap rate.
- Waterfront Amenities: Features oversized units, elevator access, waterfront pool area, and ample on-site parking.
Executive Summary
2775 Taft St, Hollywood – Rare opportunity to acquire 27 of 36 condominium units within a waterfront building in the heart of Hollywood Hills, offering investors the ability to potentially acquire the remaining units over time. The property is fully occupied and operating at approximately a 6.3% going-in cap rate at the asking price. Features include large oversized units, elevator access, waterfront pool area, ample on-site parking, and strong in-place management. Major recent improvements include a brand-new roof completed in 2025, a new elevator in 2024, and the building successfully passing its 50-year recertification inspection in 2026. Additional upside potential exists through future dock additions, subject to permitting and city approvals. Extremely unique asset in a prime Hollywood location with strong long-term hold potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$573,060
|
$19.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$573,060
|
$19.82
|
| Taxes |
$85,092
|
$2.94
|
| Operating Expenses |
$157,027
|
$5.43
|
| Total Expenses |
$242,119
|
$8.37
|
| Net Operating Income |
$330,941
|
$11.44
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $573,060 |
| Annual Per SF | $19.82 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $573,060 |
| Annual Per SF | $19.82 |
| Taxes | |
|---|---|
| Annual | $85,092 |
| Annual Per SF | $2.94 |
| Operating Expenses | |
|---|---|
| Annual | $157,027 |
| Annual Per SF | $5.43 |
| Total Expenses | |
|---|---|
| Annual | $242,119 |
| Annual Per SF | $8.37 |
| Net Operating Income | |
|---|---|
| Annual | $330,941 |
| Annual Per SF | $11.44 |
Property Facts
| Price | $5,265,000 | Apartment Style | Low-Rise |
| Price Per Unit | $195,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.76 AC |
| Cap Rate | 6.29% | Building Size | 28,918 SF |
| No. Units | 27 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1969 |
| Price | $5,265,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 6.29% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 28,918 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1969 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Pool
- Waterfront
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 27 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51-42-09-AK-0230 | Total Assessment | $170,590 (2026) |
| Land Assessment | $17,060 (2026) | Annual Taxes | $85,092 ($2.94/SF) |
| Improvements Assessment | $153,530 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
51-42-09-AK-0230
Land Assessment
$17,060 (2026)
Improvements Assessment
$153,530 (2026)
Total Assessment
$170,590 (2026)
Annual Taxes
$85,092 ($2.94/SF)
Tax Year
2025
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Isle Of Venice Condominiums | 2775 Taft St
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