2314 Polk St, Hollywood FL 33020,Hollywood,Broward County,Commercial Sale

  • $2,499,000
2314 Polk St, Hollywood FL 33020

Overview

  • Income/MultiFamily
  • Property Type
  • 1972
  • Year Built

Description

Exceptional investment opportunity in Hollywood, Florida! A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. What sets this property apart is its approved zoning by the City of Hollywood, paving the way for a new 4-floor structure to be built. This expansion would increase income by aligning rents with market rates and adding more units. The owner provides favorable financing terms, requiring only a 30% down payment. Financing is available through a 25-year amortized note, with a balloon payment due in 5 years, offering flexibility for interested parties to discuss specific terms later. Positioned in a prime location, the property is conveniently close to the beach, restaurants, shops, nightlife, and highways.

Details

Updated on April 22, 2024 at 10:56 pm
  • Price: $2,499,000
  • Year Built: 1972
  • Property Type: Income/MultiFamily
  • Property Status: Commercial Sale

Additional details

  • PublicSurveyRange: 51
  • ListAgentKey: 9698fff25bb32b05ecdf29082146c866
  • TaxLegalDescription: HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7
  • OnMarketDate: 2024-04-22
  • ListAgentEmail: c.azcarate@sflbesthomes.com
  • ContractStatusChangeDate: 2024-04-22
  • MajorChangeTimestamp: 2024-04-22T14:29:37.370Z
  • PhotosCount: 9
  • SubAgencyCompensation: 1%
  • StatusChangeTimestamp: 2024-04-22T14:29:37.370Z
  • PriceChangeTimestamp: 2024-04-19T15:40:54.387Z
  • ListingKeyNumeric: 394774436
  • MajorChangeType: New
  • ListingContractDate: 2024-04-22
  • ListAOR: A-Miami Association of REALTORS
  • TaxAnnualAmount: 33050
  • ListOfficeName: Apex International Realty, LLC.
  • OriginatingSystemKey: miamire
  • BusinessType: Apartments
  • DualVariableCompensationYN: no
  • PhotosChangeTimestamp: 2024-04-22T14:33:35.084Z
  • OriginatingSystemName: Miami Association of REALTORS®
  • ListOfficePhone: 305-389-0473
  • MlsStatus: Active
  • StreetNumber: 2314
  • ListingKey: daa5a27f01f07f5c116c949b22d7bb1c
  • StateOrProvince: FL
  • ListOfficeKey: 94daab627696b224da34e239a304a0f7
  • BridgeModificationTimestamp: 2024-04-22T14:33:35.306Z
  • ListAgentFullName: Carlos Azcarate
  • ListAgentOfficePhone: 305-389-0473
  • ParcelNumber: 514216013280
  • OtherExpense: 0
  • IDXParticipationYN: yes
  • InternetAddressDisplayYN: yes
  • ListAgentMlsId: 3241602
  • ModificationTimestamp: 2024-04-22T14:29:37.370Z
  • OriginatingSystemID: miamire
  • DaysOnMarket: 0
  • BuyerAgencyCompensationType: %
  • ListOfficeMlsId: APXI01
  • ListAgentDirectPhone: 305-389-0473
  • StreetNumberNumeric: 2314
  • PostalCodePlus4: 6757
  • SyndicationRemarks: Exceptional investment opportunity in Hollywood, Florida! A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. What sets this property apart is its approved zoning by the City of Hollywood, paving the way for a new 4-floor structure to be built. This expansion would increase income by aligning rents with market rates and adding more units. The owner provides favorable financing terms, requiring only a 30% down payment. Financing is available through a 25-year amortized note, with a balloon payment due in 5 years, offering flexibility for interested parties to discuss specific terms later. Positioned in a prime location, the property is conveniently close to the beach, restaurants, shops, nightlife, and highways.
  • ListAgentStateLicense: 3241602
  • PublicSurveyTownship: 51
  • ListingAgreement: Exclusive Right To Sell
  • PublicSurveySection: 16
  • ListingId: A11572661
  • SpecialListingConditions: Sale
  • OriginalListPrice: 2499000
  • BuildingAreaUnits: Square Feet
  • InternetEntireListingDisplayYN: yes
  • BuyerAgencyCompensation: 2%
  • InternetAutomatedValuationDisplayYN: no
  • OriginalEntryTimestamp: 2024-04-22T14:29:37.370Z
  • SourceSystemKey: 394774436
  • LotSizeSquareFeet: 20501
  • InternetConsumerCommentYN: no
  • BuildingAreaTotal: 7551
  • Address Polk St
  • City Hollywood
  • State/county Broward County
  • Zip/Postal Code 33020

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