611 24th ave - Apartments FOR SALE


Hollywood, FL 33020- Highland Garden
$1,275,000 USD
305-761-1612
611 24th ave, Hollywood, FL for Sale
$1,275,000 USD
Apartments - FOR SALE
1/8
null | 8.73% Cap Rate

611 24th ave
Hollywood, FL 33020
Highland Garden


HIGHLIGHTS

  • Strong In-Place Cash Flow-Stabilized asset with immediate cash flow from seven residential units
  • High-Density Zoning – DH-2 (Downtown High Intensity District)
  • Value-Add & Redevelopment Opportunity-Existing improvements generate income while entitlements or redevelopment plans are pursued
  • Prime Hollywood Location-Positioned within a city actively encouraging urban infill and density
  • Favorable long-term demographic growth supporting multifamily demand

OVERVIEW

Prime investment and redevelopment opportunity in the heart of Hollywood, FL. Set on approximately ½ acre, this corner property comprises four buildings with a total of seven rental units, generating stable income while offering significant long-term upside. Situated within the DH-2 zoning district, the site allows for future redevelopment of a 4-story, 25–30-unit multifamily project, making it an ideal acquisition for developers, investors, and assemblage strategies seeking scale in a high-growth market. Current Improvements and Unit Mix: Building 1: Single-family home, 2BR/1BA, rented for $1,800/month. Building 2: Three-unit structure 1BR/1BA – $1,500/month 1BR/1BA – $1,500/month 2BR/1BA – $1,600/month Building 3: Two 1BR/1BA units, each rented for $1,500/month, both with private fenced yards. Building 4: Single-family home, 2BR/1BA, with private fenced yard, rented for $2,000/month. The large lot, multi-frontage corner positioning, and flexible zoning support strong design potential for redevelopment. The property is centrally located minutes from Downtown Hollywood, major transportation corridors, retail, dining, and Hollywood Beach, providing both immediate income and exceptional future development value. A rare opportunity to secure an income-producing asset with meaningful redevelopment upside in one of South Florida’s most rapidly evolving submarkets.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

7

PRICE/UNIT

$182,143

CAP RATE

8.73%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

611 S 24th Ave, Hollywood, FL 33020

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1937

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

DH2

APN/PARCEL ID

51-42-16-01-1660

ASK ABOUT THIS PROPERTY

Erica MizrahiKeter EstatesMore Info
305-761-1612

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

Erica MizrahiKeter EstatesMore Info
305-761-1612

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