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$1,250,000.00

5 Unit Prime Investment Opportunity in East Hollywood

Madison Street Apartments: Multifamily Gem in Prime Hollywood Location

Welcome to 1934 Madison St, a prime investment property located in the vibrant East Hollywood neighborhood. Just 5 minutes from the stunning Hollywood Beach, this property is an ideal choice for savvy investors or anyone looking to enjoy the best of Florida living.

Key Features:
▶ Location: Situated in East Hollywood, this property is only a short drive from Hollywood Beach, offering the perfect blend of urban convenience and beachside relaxation.
▶ Condition: The property is maintained in mint condition, ensuring a hassle-free experience for future owners or tenants.
▶ Structural Integrity: The building features impact windows throughout and a durable metal roof, providing excellent protection against Florida’s weather conditions.
▶ Interior: With tile flooring throughout, the property exudes a clean and modern aesthetic.
▶ Parking: Ample parking is available both at the back and rear of the property, providing convenience for residents and guests.
▶ Utility Room: An onsite utility room is equipped for a washer and dryer, adding to the convenience of the residents.

Usage and Potential:
The property has been used as a non-conforming 5-unit building for the past 40 years, highlighting its versatility and long-term rental potential. This offers an opportunity for rental income through weekly or monthly leasing options.

Unit Details:
▶ Studio/1 Bathroom: Each studio unit is thoughtfully designed to maximize livability and comfort. The units come equipped with essential appliances, including a range, refrigerator, and microwave.
▶ Utilities Included: Water, sewer, and trash services are included, simplifying the rental process for both owners and tenants.
▶ Living Experience: Residents will enjoy impact windows throughout and durable tile floors, adding both safety and style to the living space.

Community and Lifestyle:
▶ Proximity to Amenities: Located in the 33020 area of Hollywood, residents have easy access to local highlights, including diverse dining options, entertainment venues, and vibrant nightlife.
▶ Leasing Team: The professional leasing team at 1934 Madison St is dedicated to helping you find the perfect unit, offering personalized tours and support.
▶ Lifestyle: Experience the best of Hollywood’s food, weather, and activities without ever leaving home. This property offers the perfect blend of comfort, convenience, and lifestyle.

Don’t miss this opportunity to invest in a property that combines prime location, excellent condition, and versatile rental potential. Contact the leasing office today to schedule your tour and discover why 1934 Madison St is the right investment for you.

Property Address

Address : 1934 Madison Street, Hollywood, FL 33020
City : Hollywood
State : FL
Zip Code : 33020

Investment Highlights

Highlight : Fully Rented, Strong income
Highlight : Well-maintained

Sale Details

Status : FOR SALE
Sale Type : Investment
List Price : $1,250,000.00
Gross Income : $117,000.00
NOI : $90,000.00
Cap Rate (%) : 7.1%
Sale Notes

Welcome to 1934 Madison St, a prime investment property located in the vibrant East Hollywood neighborhood. Just 5 minutes from the stunning Hollywood Beach, this property is an ideal choice for savvy investors or anyone looking to enjoy the best of Florida living.

Property Information & Details

Property Type : Multifamily/Rental Apartments
Style : Garden
Rent Type : Market
Building Status : Under Renovation
Number of Buildings : 1
Number of Units : 5
GBA : 2,120
Occupancy : 100%
Number of Floors : 1
Year Built : 1970
Year Renovated : 2021
Metering : Master
Construction : Masonry
Elevators : No
Parking Spaces : 5
Lot Size : 5,452 Sq Ft
Zoning : PS-2
Zoning Description : Parkside Medium Intensity Multi-Family District; https://codehub.gridics.com/us/fl/hollywood#/2bc753b0-c817-44be-b214-5dd108307f09/b1f5c6a9-60b0-4f51-8f29-1cd7c80ba939/1114f390-3cb9-4a66-b2bf-c219c8d5fe87
APN / Parcel ID : 514215015970

Unit Mix & Features

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

Configuration

Bedrooms : 5
Bathrooms : 5

Financial Information

Year : 2024
Gross Rental Income : $117,000
Effective Gross Income : $117,000
RE Tax : $9,500
Operating Expense Summary : $26,763.00
Total Expenses : $26,763.00
NOI : $90,000.00

Attachments

Energy Efficiency

Energy Class : B
Global Energy Performance Index : 92.42 kWh / m²a
Renewable Energy Performance Index : 1.00 kWh / m²a
Energy Performance of the Listing : Med
A+ A
92.42 kWh / m²a | Energy class B
B
C D E F G H

Property Features

Courtyard
Picnic Area
Wi-Fi
Cable
Bike Storage
24 Hour Access
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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