2314 Polk St ,Commercial, Apartments for Sale & Rent

2314 Polk St for Sale & Rent

Price $2,900,000.00

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

Description

We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset just minutes from Young Circle and Downtown Hollywood. The property features ten 1-bed units, two 2-bed units, and one studio?offering strong rental stability and demand. Recent upgrades include a new roof, central A/C, exterior paint, landscaping, and several renovated interiors. Additional income comes from coin laundry, and there is ample on-site parking. All leases are month-to-month with rents \~33% below market, allowing immediate upside. The property operates at a 5.5% cap rate with a 7% pro forma. Sitting on a 20,000 SF lot with favorable zoning, the site allows redevelopment of up to 37 units?making this a prime opportunity for investors and developers.

HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7

City Location

We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset just minutes from Young Circle and Downtown Hollywood. The property features ten 1-bed units, two 2-bed units, and one studio?offering strong rental stability and demand. Recent upgrades include a new roof, central A/C, exterior paint, landscaping, and several renovated interiors. Additional income comes from coin laundry, and there is ample on-site parking. All leases are month-to-month with rents \~33% below market, allowing immediate upside. The property operates at a 5.5% cap rate with a 7% pro forma. Sitting on a 20,000 SF lot with favorable zoning, the site allows redevelopment of up to 37 units?making this a prime opportunity for investors and developers.

City:Hollywood,Zoning:TC-1,Cooling:1:Other,List A O R:A-Miami Association of REALTORS,Stories:1,Flooring:1:Other,2:Tile,3:Vinyl,Latitude:26.0120755,Cooling Y N:1,Heating Y N:1,Lease Term:1 To 3 Year Lease,List Price:2900000,Listing Id:A11847110,Longitude:-80.1533271,Mls Status:Active With Contract,Year Built:1972,Inclusions:Building & Land,Postal Code:33020,Street Name:Polk St,Contingency:Pending Inspections,Coordinates:1:26.0120755,Photos Count:28,Days On Market:19,Listing Terms:1:Conventional/Refinance,Lot Size Acres:0.47,Lot Size Units:Square Feet,M I A M I R E_ Area:3050,On Market Date:2025-08-03,Parcel Number:514216013280,Property Type:Commercial Sale,Stories Total:1,Street Number:2314,Public Remarks:We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset just minutes from Young Circle and Downtown Hollywood. The property features ten 1-bed units, two 2-bed units, and one studio?offering strong rental stability and demand. Recent upgrades include a new roof, central A/C, exterior paint, landscaping, and several renovated interiors. Additional income comes from coin laundry, and there is ample on-site parking. All leases are month-to-month with rents \~33% below market, allowing immediate upside. The property operates at a 5.5% cap rate with a 7% pro forma. Sitting on a 20,000 SF lot with favorable zoning, the site allows redevelopment of up to 37 units?making this a prime opportunity for investors and developers.,County Or Parish:Broward County,List Office Name:Fausto Commercial Realty Consultants Inc,Standard Status:Active Under Contract,Living Area Units:Square Feet,Major Change Type:Active Under Contract,Postal Code Plus4:6757,Property Sub Type:Income/MultiFamily,State Or Province:FL,Unparsed Address:2314 Polk St, Hollywood FL 33020,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:7632,Building Area Units:Square Feet,Lease Considered Y N:1,Lot Size Square Feet:20501,Original List Price:2900000,Public Survey Range:51,I D X Participation Y N:1,Syndication Remarks:We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset just minutes from Young Circle and Downtown Hollywood. The property features ten 1-bed units, two 2-bed units, and one studio?offering strong rental stability and demand. Recent upgrades include a new roof, central A/C, exterior paint, landscaping, and several renovated interiors. Additional income comes from coin laundry, and there is ample on-site parking. All leases are month-to-month with rents \~33% below market, allowing immediate upside. The property operates at a 5.5% cap rate with a 7% pro forma. Sitting on a 20,000 SF lot with favorable zoning, the site allows redevelopment of up to 37 units?making this a prime opportunity for investors and developers.,Financial Data Source:1:Projected Pro-Forma,Listing Contract Date:2025-08-03,Originating System I D:miamire,Public Survey Section:16,Showing Instructions:Call Listing Agent,Street Number Numeric:2314,Tax Legal Description:HOLLYWOOD LITTLE RANCHES 1-26 B LOT 15 BLK 7,Public Survey Township:51,Construction Materials:1:CBS Construction,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Please visit Fausto Commercial,Contract Status Change Date:2025-08-22,Internet Address Display Y N:1,Number Of Units In Community:13,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,Internet Automated Valuation Display Y N:1,