2314 Polk St ,Apartments for Sale

2314 Polk St for Sale

Price $2,499,000.00

• Lot size 20501
• Year Build 1972
• Waterfront
• Zip 33020
• Style
• Parking Description
• Pool Yes
• Status Active

Description

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.

Please contact listing agent for a private showing. By appointment only 24 Hour notice

HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7

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.

City:Hollywood,Zoning:TC-1,List A O R:A-Miami Association of REALTORS,Latitude:26.0120516,List Price:2499000,Listing Id:A11572661,Longitude:-80.1533054,Mls Status:Active,Year Built:1972,Postal Code:33020,Street Name:Polk St,Coordinates:1:26.0120516,Photos Count:9,Lot Size Units:Square Feet,M I A M I R E_ Area:3050,On Market Date:2024-04-22,Parcel Number:514216013280,Property Type:Commercial Sale,Street Number:2314,Public Remarks: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.,County Or Parish:Broward County,List Office Name:Apex International Realty, LLC.,Private Remarks:Please contact listing agent for a private showing. By appointment only 24 Hour notice,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:6757,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:33050,Unparsed Address:2314 Polk St, Hollywood FL 33020,Listing Agreement:Exclusive Right To Sell,Building Area Total:7551,Building Area Units:Square Feet,Lot Size Square Feet:20501,Original List Price:2499000,Public Survey Range:51,I D X Participation Y N:1,Syndication Remarks: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.,Listing Contract Date:2024-04-22,Originating System I D:miamire,Public Survey Section:16,Street Number Numeric:2314,Tax Legal Description:HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7,Public Survey Township:51,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:1%,M I A M I R E_ Internet Remarks:Exceptional investment opportunity in Hollywood A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40%,Contract Status Change Date:2024-04-22,Internet Address Display Y N:1,M I A M I R E_ Ok To Advertise List:No,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 2%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,