1621 VAN BUREN ST #1-11, Hollywood
$2,300,000 USD
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| Address | 1621 VAN BUREN ST #1-11, Hollywood |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Business Location | City Location |
| Property Style | Income Non-Waterfront |
| Price | $2,300,000 |
| Property Status | Active |
| MLS Number | A11800225 |
| Property Size | 10244 |
| Lot Size | 10244 |
| Year Built | 1925 |
| Folio Number | 514215023380 |
| Gross Operating Income | $201,840 |
| Net Operating Income | $152,903 |
| Zoning Information | LT |
| Days on Market | 125 |
Detailed Description: 1621 Van Buren St, a well-maintained 11-unit multifamily property located east of US1 in the highly desirable Hollywood Lakes neighborhood, just steps from Young Circle. The building includes ten 1-bed / 1-bath units and one studio, all with separate electric meters. Spanning 5,058 sq.ft on a 10,244 sq.ft lot, the property has undergone recent renovations and features a new roof and dedicated parking. At the asking price, it offers a solid going-in cap rate of 6.5%, with the potential to exceed 7% through modest rent increases. Seller financing is available with just 30% down and attractive terms, making this a compelling investment opportunity in a prime redevelopment area with projected pro forma gross income exceeding $225,000.
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Address Information
| State | Florida |
| City | Hollywood |
| County | Broward County |
| Zip Code | 33020 |
| Address | 1621 VAN BUREN ST |
| Business Location | City Location |
| Section | 15 |
| Zip Code (4 Digits) | 5146 |
Financial Information
| Price | $2,300,000 |
| Price per Foot | $0 |
| Folio Number | 514215023380 |
| Gross Operating Income | $201,840 |
| Net Operating Income | $152,903 |
| Tax Amount | $34,557 |
| Possession Information | Funding |
Full Descriptions
| Detailed Description | 1621 Van Buren St, a well-maintained 11-unit multifamily property located east of US1 in the highly desirable Hollywood Lakes neighborhood, just steps from Young Circle. The building includes ten 1-bed / 1-bath units and one studio, all with separate electric meters. Spanning 5,058 sq.ft on a 10,244 sq.ft lot, the property has undergone recent renovations and features a new roof and dedicated parking. At the asking price, it offers a solid going-in cap rate of 6.5%, with the potential to exceed 7% through modest rent increases. Seller financing is available with just 30% down and attractive terms, making this a compelling investment opportunity in a prime redevelopment area with projected pro forma gross income exceeding $225,000. |
| Year Built Description | Resale |
| Roof Description | Built-Up |
| Cooling Description | Wall / Window Unit (s) |
| Heating Description | Wall / Window Units |
| Water Description | Public |
| Sewer Description | Public Sanitation |
| Parking Description | Shared Parking, On Street |
Property parameters
| Living Area | 10244 |
| Lot Size | 10244 |
| Total Acreage | 0.000 |
| Zoning Information | LT |
| Maximum Leasable Size | 10244 |
| Year Built | 1925 |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Style | Income Non-Waterfront |
| Construction Type | CBS Construction |
| Stories Number | 2 |
| Listed with | Fausto Commercial Realty Consultants Inc |