Rare opportunity to acquire income producing 3/2 home w/in-law suite & additional development capacity, walking distance from library, parks & Downtown Hollywood, at over 20% below market value. Keep the existing home & add 8 (2 bedroom) units for 9 units total. Included site plan shows layout, parking & access.… Read More Meeting with city has been held; feasibility & zoning compliance confirmed. Land comps:$50k per (mostly 1 bed) unit sold, $58k-$101k per (mostly 1 bed) unit active. 3/2 house comps:$499k-$679k active, $410k-$580k sold. Subject property: 3/2 house + 8 (2 bedroom) units buildable land; market value ~$900k. 2 bed rents:$1.8k-$2.5k/mo. 3 bed rents:$3k-$3.8k/mo. Build cost:~$1.5M. All in:~$2.2M Projected value:$3M+ = ~$1M equity. Potential ~10% cap. Opportunity zone. Seller will finance Read Less
Courtesy of United Realty Group Inc., Michael J Sheer, 954-450-2000.
Listing Snapshot
Days Online
5
Last Updated
Property Type
Multi Family
Square Ft.
1,785
Lot Size
0.35 Acres
Year Built
1949
MLS Number
B26036967
Additional Details
Property Access
Road frontage type: "City Street"
Building
Built in 1949, Construction materials: "Block", "CBS", "Concrete", "Concrete Block - With Stucco", "Stucco", Toal building area: 1785, 2 total units
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