1948 Buchanan ,Multi Family for Sale & Rent

1948 Buchanan for Sale & Rent

Price $1,875,000.00

• Lot size 5613
• Year Build 1964
• Waterfront
• Zip 33020
• Style
• Parking Description
• Pool Yes
• Status Active

Description

The Buchanan St / N 20th Ave assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy Nine-unit multifamily assemblage with immediate income. Estimated 5% in-place capitalization rate. Rear gated parking area providing operational flexibility and tenant appeal. Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing Seller willing to hold a purchase money mortgage. Approximately 40% down payment requirement. Below-market interest rate. Improved cash-on-cash returns and reduced equity exposure. Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity Preliminary redevelopment potential of approximately 29 to 32 residential units. Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. Opportunity to create substantial land value through future entitlement and development. Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.

HOLLYWOOD 1-21 B LOT 28,29,30 BLK 19

1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre, Alley, Fenced

The Buchanan St / N 20th Ave assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy Nine-unit multifamily assemblage with immediate income. Estimated 5% in-place capitalization rate. Rear gated parking area providing operational flexibility and tenant appeal. Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing Seller willing to hold a purchase money mortgage. Approximately 40% down payment requirement. Below-market interest rate. Improved cash-on-cash returns and reduced equity exposure. Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity Preliminary redevelopment potential of approximately 29 to 32 residential units. Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. Opportunity to create substantial land value through future entitlement and development. Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.

City:Hollywood,Roof:1:Shingle,Sewer:1:Public Sanitation,2:Sewer,Zoning:DH-2,Cooling:1:Central Air,2:Wall/Window Unit(s),Country:United States,Heating:1:Window/Wall,List A O R:BeachesMLS,Stories:1,Tax Year:2026,Latitude:26.016832,Cooling Y N:1,Heating Y N:1,List Price:1875000,Listing Id:B26034874,Longitude:-80.1467041,Mls Status:Active,Ownership:Corporation,Utilities:1:Cable Available,2:Electricity Available,3:Sewer Available,4:Water Available,Year Built:1964,Postal Code:33020,Street Name:Buchanan,Coordinates:1:26.016832,Gross Income:173100,Lot Features:1:Less Than 1 Acre,2:Alley,3:Fenced,Photos Count:12,Days On Market:8,Leasable Area:5613,Listing Terms:1:Owner Hold 2nd Mortgage,Lot Size Acres:0.35,Lot Size Units:Square Feet,M I A M I R E_ Area:3050,On Market Date:2026-05-31,Parcel Number:514215013350,Parking Total:13,Property Type:Commercial Sale,Stories Total:1,Street Number:1948,Street Suffix:Street,Ownership Type:Corporation,Public Remarks:The Buchanan St / N 20th Ave assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy Nine-unit multifamily assemblage with immediate income. Estimated 5% in-place capitalization rate. Rear gated parking area providing operational flexibility and tenant appeal. Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing Seller willing to hold a purchase money mortgage. Approximately 40% down payment requirement. Below-market interest rate. Improved cash-on-cash returns and reduced equity exposure. Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity Preliminary redevelopment potential of approximately 29 to 32 residential units. Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. Opportunity to create substantial land value through future entitlement and development. Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.,County Or Parish:Broward County,Expiration Date:2026-12-31,List Office Name:Media Realty,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Property Sub Type:Multi Family,State Or Province:FL,Tax Annual Amount:34976,Total Actual Rent:173100,Unparsed Address:1948 Buchanan Street, Hollywood FL 33020,Listing Agreement:Exclusive Right To Sell,M I A M I R E_ Blogging:1,Operating Expense:70329,Road Frontage Type:1:City,Security Features:1:No Security,Year Built Details:Resale,Building Area Total:5613,Building Area Units:Square Feet,Leasable Area Units:Square Feet,M I A M I R E_ Num Floors:1,Number Of Buildings:3,Original List Price:1875000,I D X Participation Y N:1,Net Operating Income:91416,Number Of Units Total:9,Syndication Remarks:The Buchanan St / N 20th Ave assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy Nine-unit multifamily assemblage with immediate income. Estimated 5% in-place capitalization rate. Rear gated parking area providing operational flexibility and tenant appeal. Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing Seller willing to hold a purchase money mortgage. Approximately 40% down payment requirement. Below-market interest rate. Improved cash-on-cash returns and reduced equity exposure. Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity Preliminary redevelopment potential of approximately 29 to 32 residential units. Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. Opportunity to create substantial land value through future entitlement and development. Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.,Listing Contract Date:2026-05-31,Originating System I D:miamire,Showing Instructions:See Broker Remarks,No Sign,Street Number Numeric:1948,Tax Legal Description:HOLLYWOOD 1-21 B LOT 28,29,30 BLK 19,Electric On Property Y N:1,M I A M I R E_ Current Price:1875000,M I A M I R E_ Milesto Beach:2,M I A M I R E_ Year Installed:1964,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Geographic Area:Hollywood East (3010-3050),M I A M I R E_ Parcel Number M L X:5142,M I A M I R E_ Supplement Count:1,Contract Status Change Date:2026-05-31,Distance To Freeway Numeric:1,Internet Address Display Y N:1,M I A M I R E_ Cable Available Y N:1,Number Of Units In Community:9,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,M I A M I R E_ Acreage Description:1/4+ To 1/2 Acre,M I A M I R E_ Environmental Audit:None,M I A M I R E_ Parking Space Number:13,M I A M I R E_ Agent Alternate Phone:954-232-7714,M I A M I R E_ Approx Sqft Total Area:15445,M I A M I R E_ Maximum Leasable Sqft:5613,Internet Entire Listing Display Y N:1,Internet Automated Valuation Display Y N:1,