2314 Polk St - Apartments FOR SALE


Hollywood, FL 33020- North Central Hollywood
$2,900,000 USD
954-743-7594
2314 Polk St, Hollywood, FL for Sale
$2,900,000 USD
Apartments - FOR SALE
1/29
null | 6.83% Cap Rate

2314 Polk St
Hollywood, FL 33020
North Central Hollywood


HIGHLIGHTS

  • Fully Occupied Property – Currently generating $215,400 in gross income with 33% rental upside through lease adjustments.
  • Strong Unit Mix – Ten 1-bed units, two 2-bed units, and one studio—ideal for tenant stability and demand.
  • Recent Capital Improvements – New roof, central A/C, fresh exterior paint, updated landscaping, and renovated interiors for some units.
  • Additional Income Sources – Coin-operated laundry and ample on-site parking for tenant convenience.
  • Redevelopment Potential – 20,000 SF lot with zoning allowing up to 37 units—great for future development.
  • Ample On-Site Parking – Convenient parking available for all tenants.

OVERVIEW

We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset located just minutes from Young Circle and downtown Hollywood. The property features ten large 1-bedroom units, two 2-bedroom units, and one studio— offering an ideal mix for long-term rental stability and tenant demand. Recent upgrades include a brand-new roof, central A/C systems, freshly painted exterior, updated landscaping, and several renovated interiors. Additional income is generated through a coin operated laundry room, and the property offers ample on-site parking for tenant convenience. All leases are currently month-to-month, with rents approximately 33% below market— allowing for immediate upside. The property operates at a 5.5% cap rate with a pro forma of 7%. Sitting on a 20,000 SF lot with favorable zoning, the site allows for redevelopment of up to 37 units, making this an outstanding opportunity for both investors and developers seeking value and long-term potential.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$408 USD /SF

# OF UNITS

13

PRICE/UNIT

$223,077

CAP RATE

6.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Polk Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,800 SF

ZONING

TC-1, Hollywood

APN/PARCEL ID

51-42-16-01-3280

ASK ABOUT THIS PROPERTY

Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.