1946 Pierce St ,Income Non-waterfront, Apartments for Sale

1946 Pierce St for Sale

Price $3,776,000.00

• Lot size 10907
• Year Build 2023
• Waterfront
• Zip 33020
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Introducing an 11-unit multifamily property, newly renovated. Features new windows, plumbing, and electrical systems. Each unit offers pristine kitchens with stainless steel appliances, quartz countertops, and stylishly reimagined bathrooms. The property consists of 10 spacious 1-bed/1-bath units + one studio unit, each with its own electric meter. Located near downtown Hollywood, I-95, and beaches. Currently being fully renovated with permits. Anticipated monthly rental rates of $2,350, projecting a Gross Rental Income (GRI) exceeding $299,000 and a Net Operating Income (NOI) surpassing $247,000. Don't miss this investment opportunity with a proforma Capitalization Rate (CAP rate) of 6.55% in a prime neighborhood.

This property can be acquired in its current AS IS condition, as part of its ongoing renovation, for $2.8 million.

HOLLYWOOD 1-21 B LOT 26,27 BLK 20

City Location

Introducing an 11-unit multifamily property, newly renovated. Features new windows, plumbing, and electrical systems. Each unit offers pristine kitchens with stainless steel appliances, quartz countertops, and stylishly reimagined bathrooms. The property consists of 10 spacious 1-bed/1-bath units + one studio unit, each with its own electric meter. Located near downtown Hollywood, I-95, and beaches. Currently being fully renovated with permits. Anticipated monthly rental rates of $2,350, projecting a Gross Rental Income (GRI) exceeding $299,000 and a Net Operating Income (NOI) surpassing $247,000. Don't miss this investment opportunity with a proforma Capitalization Rate (CAP rate) of 6.55% in a prime neighborhood.

City:Hollywood,Zoning:ND-2,List A O R:A-Miami Association of REALTORS,Stories:1,Electric:1:Separate Meters,Latitude:26.0157703,List Price:3776000,Listing Id:A11481694,Longitude:-80.1464782,Mls Status:Active,Ownership:Corporation,Year Built:2023,Inclusions:Building & Land,Postal Code:33020,Street Name:Pierce St,Coordinates:1:26.0157703,Gross Income:299200,Photos Count:12,Building Name:1946 Pierce Street,Days On Market:28,Listing Terms:1:Conventional/Refinance,Lot Size Acres:0.25,Lot Size Units:Square Feet,M I A M I R E_ Area:3050,On Market Date:2023-11-06,Other Expense:33763,Parcel Number:514215013550,Parking Total:5,Property Type:Commercial Sale,Stories Total:1,Street Number:1946,Public Remarks:Introducing an 11-unit multifamily property, newly renovated. Features new windows, plumbing, and electrical systems. Each unit offers pristine kitchens with stainless steel appliances, quartz countertops, and stylishly reimagined bathrooms. The property consists of 10 spacious 1-bed/1-bath units + one studio unit, each with its own electric meter. Located near downtown Hollywood, I-95, and beaches. Currently being fully renovated with permits. Anticipated monthly rental rates of $2,350, projecting a Gross Rental Income (GRI) exceeding $299,000 and a Net Operating Income (NOI) surpassing $247,000. Don't miss this investment opportunity with a proforma Capitalization Rate (CAP rate) of 6.55% in a prime neighborhood.,County Or Parish:Broward County,Frontage Length:80,List Office Name:East Coast Realty Brokerage LLC,Private Remarks:This property can be acquired in its current AS IS condition, as part of its ongoing renovation, for $2.8 million.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,New Taxes Expense:23437,Postal Code Plus4:4041,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:23438,Unparsed Address:1946 Pierce St, Hollywood FL 33020,Listing Agreement:Exclusive Right To Sell,Operating Expense:57200,Security Features:1:Security Fence,Year Built Details:New Construction,Building Area Total:5137,Building Area Units:Square Feet,Lot Size Square Feet:10907,M I A M I R E_ For Sale Y N:1,New Construction Y N:1,Number Of Buildings:1,Original List Price:3950000,Previous List Price:3950000,Public Survey Range:42,I D X Participation Y N:1,M I A M I R E_ For Lease Y N:1,Net Operating Income:247200,Syndication Remarks:Introducing an 11-unit multifamily property, newly renovated. Features new windows, plumbing, and electrical systems. Each unit offers pristine kitchens with stainless steel appliances, quartz countertops, and stylishly reimagined bathrooms. The property consists of 10 spacious 1-bed/1-bath units + one studio unit, each with its own electric meter. Located near downtown Hollywood, I-95, and beaches. Currently being fully renovated with permits. Anticipated monthly rental rates of $2,350, projecting a Gross Rental Income (GRI) exceeding $299,000 and a Net Operating Income (NOI) surpassing $247,000. Don't miss this investment opportunity with a proforma Capitalization Rate (CAP rate) of 6.55% in a prime neighborhood.,Listing Contract Date:2023-11-06,Originating System I D:miamire,Public Survey Section:15,Showing Instructions:Call Listing Agent,Street Number Numeric:1946,Tax Legal Description:HOLLYWOOD 1-21 B LOT 26,27 BLK 20,Electric On Property Y N:1,Gross Scheduled Income:299200,Public Survey Township:42,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:0.01%,M I A M I R E_ Internet Remarks:Introducing an 11-unit multifamily property, Proforma GRI of $299,000 and NOI $247,000. Don't miss this investment opportunity! CAP rate of 6.55%.,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2023-11-06,Distance To Freeway Numeric:2,Number Of Units In Community:11,Transaction Broker Compensation:2.5%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,