Madison St
Hollywood, FL 33020
Madison East Apartments · Multifamily Property For Sale · 14 Units

Steven Paulsen with Marcus & Millichap and the Gibbs Cunningham Team are proud to announce our new Hollywood area listing. The subject property is operating as a 14 unit building in the heart of the burgeoning Downtown Hollywood and Young Circle district. Purchased with the intent of creating a turn around story, the current owner has accomplished his goal. The building now features new electrical service throughout, remodeled kitchens/bathrooms, mostly new flooring and more. All but one unit has seen significant upgrades. That lone unit left alone was remodeled some years prior. With one of the most desired locations in all of Hollywood and South Florida, this property enjoys a historically high occupancy rate. East of Federal Highway near Downtown Hollywood is one of the most desirable locations for tenants looking to live in a downtown environment such as Downtown Hollywood. Properties like this, that are updated with modern finishing's, achieve much higher rents than other areas to the west. Currently unit eight is being completed to lease at $1350. Rents like this are proof of concept as to what a building in a location such as this can generate.