REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,499,000
Est. payment /mo
Active
2314 Polk St Hollywood, FL 33020
7,551 SqFt
UPDATED:
10/21/2024 03:41 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,551 sqft
Price per Sqft $330
MLS Listing ID A11572661
HOA Y/N No
Year Built 1972
Annual Tax Amount $33,050
Lot Size 0.471 Acres
Property 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.
Location
State FL
County Broward
Area 3050
Others
Tax ID 514216013280
Listed by Apex International Realty, LLC.