Adams Street Apartments 2206 Adams St Hollywood, FL 33020

$3,195,000
$3,195,000
Adams Street Apartments 2206 Adams St Hollywood, FL 33020

Overview

Calling all investors! 2206 Adams St presents a rare opportunity to own a fully renovated, income-generating multifamily property with massive future potential.
Here’s the deal:
  • Turnkey Investment: This 15-unit property is already generating a healthy income of nearly $300,000 annually, with room for further growth by adjusting rents to market rates.
  • Diverse Unit Mix: The property offers a mix of studios, 1-bedroom, and even a spacious 3-bedroom unit, catering to a variety of tenant needs.
  • Fully Renovated: Enjoy peace of mind with new roofs, central AC, impact windows/doors, upgraded flooring, kitchens, and bathrooms. Plus, a revamped parking lot and coin laundry room add convenience for tenants.
  • Low Expenses, High Convenience: Individual electric meters ensure efficient billing, while assigned parking takes the hassle out of finding a spot.
  • Prime Location: Just 2 minutes from Young Circle and downtown Hollywood, this property is in a high-demand area.
  • Future Potential: Sitting on a massive 20,500 sqft lot zoned DH-2, this property has the potential to be redeveloped into a much larger 35-unit complex, significantly increasing its value.
This is an excellent opportunity to own a piece of Hollywood’s booming real estate market. Don’t miss out!
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Details

  • Lot area (sqft):
    20473 sqft
  • Building area (sqft)::
    8256 sqft
  • Price ($):
    $3,195,000
  • Year built:
    1965
  • Cap Rate:
    7%
  • Portfolio: 15 units