1400 N 17th Ave - Apartments FOR SALE


Hollywood, FL 33020- Royal Poinciana
$4,900,000 USD
954-256-5410
1400 N 17th Ave, Hollywood, FL for Sale
$4,900,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

1400 N 17th Ave
Hollywood, FL 33020
Royal Poinciana


HIGHLIGHTS

  • Value Add Potential
  • Superior Location & Amenities
  • Desirable Unit Mix
  • Strong Rental Market
  • New Era of Gaming In Florida
  • Exceptional Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of St. James Park Flats, a 22-unit multi-family property located in Hollywood, Florida, which is in Broward County. The property was built in 1975 of reinforced concrete with a poured reinforced concrete slab roof, sits on a 0.39-acre corner lot, and is zoned RM-18. The property is located at 1400 N 17th Avenue, and is one block east of US Route 1, south of Sheridan Street and north of Hollywood Blvd. The neighborhood consists primarily of singlefamily homes and multifamily buildings of similar age and construction as the subject property. The investment property offers a fantastic unit mix comprised of (4) large 2-Bedroom, (14) spacious 1-Bedroom, and (4) comfortable Studio apartments totaling approximately 14,472 in rentable square feet. All units offer fully equipped kitchens, central or wall air conditioning, tiled floors and ample storage closets throughout. The St. James Park Flats offer common area amenities including a quiet meticulously maintained interior landscaped courtyard, onsite laundry and assigned parking for residents & guests. Current ownership has made significant investment of nearly $780,000 in CAPEX with renovated units offering white lacquered kitchen cabinets with granite countertops, newer fixtures in the bathrooms, impact resistant windows & doors, a recently resurfaced concrete slab roof with a transferrable warranty that will significantly lower insurance premiums, plus installed energy efficient LED lighting throughout. Additionally, the property has completed the required 40/10 Year Re-certification, which is good until 2034. St. James Park Flats offers an investor the opportunity to purchase a welllocated, stable, value add investment with significant upside in future rents, in a strong rental sub-market of Hollywood nearby national retailers and major employers like the Seminole Hard Rock Hotel, Hollywood/Fort Lauderdale International Airport, Port Everglades and many amazing local eateries & resorts along the World-Famous Hollywood Beach Boardwalk.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

22

PRICE/UNIT

$222,727

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

St James Park Flats

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

17,097 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Hernando PerezHorvath & TremblayMore Info
954-256-5410

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Hernando PerezHorvath & TremblayMore Info
954-256-5410

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.