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ASKING: $2,699,000.00
Multi-family buildings

1858 Dewey St, Hollywood, FL – 12 Unit Multifamily

Presenting an outstanding investment opportunity nestled in the heart of Hollywood, FL, this property boasts an impressive 6.8%+ Capitalization Rate (with potential for 7.3% at 100%).

Meticulously maintained, the offering comprises 12 renovated studios, both aesthetically pleasing and functional.  Thoughtfully furnished, each unit provides tenants with a comfortable and convenient living experience. Modern amenities include split-system air conditioning, flat-screen TVs, and well-appointed kitchens with ample dining space. The all-inclusive rent covers Wi-Fi, electricity, and water, ensuring a hassle-free living experience.

This income-generating gem yields a robust Net Operating Income (NOI) of $195,000 annually. Detailed financials are available upon the execution of a non-disclosure agreement, catering to the discerning investor.

Situated within an Opportunity Zone, the property not only promises a steady income but also potential tax advantages. With long-term, stable tenants on annual leases, rest assured that this property is impeccably maintained, offering an ideal addition to your portfolio for passive income and peace of mind.

This unique opportunity is perfect for those seeking a turnkey investment property in Hollywood, FL, where success and stability go hand in hand.

(Please note that 1858 Dewey Street is legally configured as 9 units; however, historical reconfiguration with dividing doors in 2 rooms allows for renting out 2 units as single units or studios. The current rental configuration is 12 studios.)

Property Address

Address : 1858 Dewey Street
City : Hollywood
State : FL
Zip Code : 33020

Investment Highlights

Highlight : OPPORTUNITY ZONE
Highlight : Sold fully rented and fully furnished

Sale Details

Status : FOR SALE
Sale Type : Investment
List Price : ASKING: $2,699,000.00
Gross Income : $280,800
NOI : $195,155.00
Cap Rate (%) : 6.83%
Sale Notes

The property is fully occupied. To avoid tenant disruption, the Seller requests that Buyers provide proof of funds to tour. Additionally, an NDA is required for detailed financials.

Property Information & Details

Property Type : Multifamily/Rental Apartments
Style : Garden
Rent Type : Market
Building Status : Existing
Number of Buildings : 1
Number of Units : 12
GBA : 3,632
Occupancy : 95%
Number of Floors : 2
Year Built : 1964
Year Renovated : 2019
Metering : Combination
Construction : Masonry
Elevators : No
Parking Spaces : 14
Lot Size : 0.25 AC / 10,800sf
Zoning : RM
Zoning Description : Residential Multifyfamily
APN / Parcel ID : 51-42-22-10-2180

Unit Mix & Features

Unit Mix

Studios, 10, 300sf +/-
Efficiencies, 2, 250sf +/-

Unit Features : Air Conditioning, Microwave, Kitchen, Granite Counters, Refrigerator, Oven, Tub/Shower, Wi-fi, Coffee System

Configuration

Bedrooms : 12
Bathrooms : 12

Financial Information

Year : 2023
Gross Rental Income : $280,800
Effective Gross Income : $266,760
RE Tax : $34,667
Operating Expense Summary : $37,500
Total Expenses : $71,605
NOI : $195,155.00

Attachments

Property Features

Barbeque Area
Courtyard
Laundry Facilities
Picnic Area
Wi-Fi
Backyard
On-site Parking
Street Parking

Location

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Bram Leland Scolnick
Licensed Real Estate Broker
BK3548771 📞 954.302.6368
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Jude Emma Scolnick
Agent | 954.231.8413
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