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11-unit Multifamily in Hollywood, FL

Introducing an exceptional 11-unit multifamily treasure, showcasing extensive and recently remodeled living spaces that epitomize contemporary luxury. This property has undergone a comprehensive transformation, featuring new windows, plumbing, and electrical systems.

Inside each unit, you’ll find immaculate kitchens embellished with stainless steel appliances and adorned with elegant quartz countertops. The bathrooms have been tastefully reimagined to enhance your comfort and convenience. This property consists of 10 spacious 1-bedroom/1-bathroom units, each offering approximately 550 square feet of living space, along with one studio unit.  All units will have new split-system Air Conditioning.

Notably, each unit is equipped with its own electric meter, offering residents individual control, while a central water meter streamlines property management. The facade boasts a modern yet inviting design and the spacious courtyard provides an ideal retreat. Conveniently located in proximity to downtown Hollywood and transportation hubs, with easy access to I-95 and beautiful beaches, this location is highly sought after by both renters and savvy investors.

This property is undergoing a full renovation with all necessary permits in place, including interior and exterior plumbing upgrades, new stucco, updated windows, a new electrical service, and fully remodeled interiors. The roof still has up to 10 years of life and is being repaired and cleaned.

For parking, there are on-street options available, along with limited off-street spaces.

Anticipated rental rates stand at $2,200 per month, excluding utilities and internet, with a projected Gross Rental Income (GRI) exceeding $284,400 and a Net Operating Income (NOI) surpassing $210,200. Presenting a compelling investment opportunity, this property is offered with a proforma Capitalization Rate (CAP rate) of 6.1%. Don’t miss this chance to enhance your investment portfolio in a prime, sought-after neighborhood.

Property Address

Address : 1946 Pierce Street, Hollywood, FL 33020
City : Hollywood
State : FL
Zip Code : 33020

Investment Highlights

Highlight : Newly Renovated
Highlight : New Kitchens and Baths

Sale Details

Status : FOR SALE
Sale Type : Investment
List Price : $3,499,000
Gross Income : $284,400.00
NOI : $247,200.00
Cap Rate (%) : 6.1%
Sale Notes

Check out this amazing 11-unit Multifamily property with large units, newly and fully renovated. Updated roof; new windows, plumbing and electric. New kitchens, new bathrooms, stainless steel appliances and quartz counters. The property features 10 1-bed/1-bath units which measure roughly 550 square feet and one studio unit. Each unit has its own electric meter with one central water meter. The facade design is contemporary and warm; the courtyard space is airy and inviting. Located close to downtown Hollywood and to transportation. Minutes from I-95 and the beaches. This highly sought after neighborhood is ideal for renters and investors.

On-street parking is available as well as limited off-street parking.

The property can be purchased AS IS (under renovation) for $2.8M or fully rented for $3.95M. Units will rent for $2,550/mo including utilities and internet. Expected GRI is over $336,000 with NOI of over $268,000. This property is offered at a proforma CAP rate of $6.8%

Property Information & Details

Property Type : Multifamily/Rental Apartments
Style : Garden
Rent Type : Market
Building Status : Under Renovation
Number of Buildings : 1
Number of Units : 11
GBA : 5,137
Occupancy : 100%
Number of Floors : 1
Year Built : 1968
Year Renovated : 2023
Metering : Combination
Construction : Masonry
Elevators : No
Parking Spaces : 6
Lot Size : 10,907 Sq Ft
Zoning : ND-2
Zoning Description : North Downtown Medium Intensity Multi-Family District
APN / Parcel ID : 514215013550

Unit Mix & Features

Unit Mix

1-Bed/1Bath – 10 @ 550sf +\- ; 1-studio

Unit Features : Air Conditioning, Microwave, Eat-in Kitchen, Granite Counters, Refrigerator, Oven, Stainless Steel Appliances, Tub/Shower, Wi-fi, Ceiling Fans

Financial Information

Year : 2024
Gross Rental Income : $299,200.00
Effective Gross Income : $299,200
RE Tax : $23,437.00
Operating Expense Summary : $33,763.00
Total Expenses : $57,200.00
NOI : $247,200.00


Energy Efficiency

Energy Class : A+
Global Energy Performance Index : 92.42 kWh / m²a
Renewable Energy Performance Index : 1.00 kWh / m²a
Energy Performance of the Listing : Med
92.42 kWh / m²a | Energy class A+

Property Features

Laundry Facilities
Bike Storage
24 Hour Access
On-site Parking
Street Parking


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Bram Leland Scolnick
Licensed Real Estate Broker
BK3548771 📞 954.302.6368
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