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Gelfand Realty Miami Properties for Sale - Income/MultiFamily for Sale

2314 POLK ST, HOLLYWOOD, FL 33020

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Income/MultiFamily - for Sale

2314 POLK ST, HOLLYWOOD, FL 33020

Asking Price$2,499,000

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  • Days on market:

    38 day(s)

  • Original Price:

    $2,499,000

  • Tax Legal Description:

    HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7

  • Property Type:

    Income/MultiFamily

  • Special Listing Conditions:

    Sale

Description

$2,499,000

Exceptional investment opportunity in hollywood, florida! a 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. what sets this property apart is its approved zoning by the city of hollywood, paving the way for a new 4-floor structure to be built. this expansion would increase income by aligning rents with market rates and adding more units. the owner provides favorable financing terms, requiring only a 30% down payment. financing is available through a 25-year amortized note, with a balloon payment due in 5 years, offering flexibility for interested parties to discuss specific terms later. positioned in a prime location, the property is conveniently close to the beach, restaurants, shops, nightlife, and highways.

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