Moffett and Fletcher Apartments Multi-Family FOR SALE


Hollywood, FL - Parkside
$6,450,000 USD
, Hollywood, FL for Sale
$6,450,000 USD
Multi-Family - FOR SALE
1/13
null | 6.38% Cap Rate

Moffett and Fletcher Apartments
Hollywood, FL
Parkside


HIGHLIGHTS

  • Prime Hollywood Location
  • Minutes to Downtown Hollywood and Near Federal Hwy & I-95
  • 3 Adjacent Parcels with 36 Apartment Units
  • Future Live Local Act Redevelopment Potential, can build up to ±325 Units !
  • Strong In-Place Income with a 6.4% CAP Rate

OVERVIEW

This multifamily investment opportunity consists of three adjacent parcels totaling 36 apartment units situated on approximately 61,718 SF in the rapidly growing Hollywood rental market. The portfolio currently generates strong in-place rental income with additional upside through future rental increases, continued renovations, lease-up opportunities, and operational improvements. Several units have been updated with renovated interiors while the properties benefit from strong tenant demand and a central location near Downtown Hollywood, Young Circle, Federal Highway, Dixie Highway, I-95, and Hollywood Beach. In addition to the existing multifamily income, the assemblage also presents a future long-term redevelopment opportunity under the Live Local Act with the ability to develop approximately 325+ units.

ASK ABOUT THIS PROPERTY

John DeMarcoRE/MAX 5 Star RealtyMore Info

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John DeMarcoRE/MAX 5 Star RealtyMore Info

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