6201 Taylor St - Apartments FOR SALE


Hollywood, FL 33024- 441 Corridor
$1,699,000 USD
561-601-4905
6201 Taylor St, Hollywood, FL for Sale
$1,699,000 USD
Apartments - FOR SALE
1/13
null | 6.22% Cap Rate

6201 Taylor St
Hollywood, FL 33024
441 Corridor


HIGHLIGHTS

  • Good Unit Mix of One- and Two-Bedroom Apartments
  • 1969 One-Story CBS Construction
  • Roof Recently Replaced June 2024
  • 40/10-Year Recertification Completed
  • Average In-Place Rents 20 Percent Below Market
  • Large 0.39 Acre Lot

OVERVIEW

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Taylor Street Apartments (herein referred to as “the property”), a nine-unit apartment building situated in the highly desirable West Hollywood submarket of South Florida, just south of the Seminole Hard Rock Hotel & Casino in Hollywood, Florida. Taylor Street Apartments is a single-story, garden-style apartment building comprised of nine units and that was constructed in 1969 of concrete block with painted stucco exterior. The property includes 5,808 square feet of living area and a 16,916 square foot lot according to the Broward County Property Appraiser. Amenities include ceramic tile flooring, electric appliances, coin laundry machines, individual hot water heaters, wall-units and central air conditioning. The roof is pitched asphalt shingle and was replaced in June 2024. The parking lot was also just resealed and has a total of 14 parking spaces. The 40/10-year recertification was recently completed. The unit mix consists of seven one-bedroom apartments with an average in-place rent of $1,451 and two two-bedroom and two-bathroom apartments with an average in-place rent of $1,838. Nearly 60 percent of the units have lease renewals within the next six months, which creates an excellent opportunity to renovate and increase rents. The current average in-place rent is $1,537, which is nearly 20 percent below the market average rent of $1,892. Taylor Street Apartments is located just south of the Seminole Hard Rock Hotel & Casino Hollywood. The property is situated east of the Florida Turnpike, west of North State Road 7 (441) and just north of Hollywood Boulevard. The surrounding area consists primarily of single-family homes and multifamily properties, as well as major commercial properties and retailers along Hollywood Boulevard and the State Road 7 (441) corridor. The location provides easy access to Florida’s Turnpike (200 feet), State Road 7 (0.25 miles), and Interstate 95 (2.8 miles). Taylor Street Apartments is located just a short distance from many retailers such as Walmart Supercenter (0.6 miles), ALDI (0.75 miles), Bank of America (1.5 miles), Walgreens (1.7 miles) and Publix Supermarket at Sheridan Plaza (2.3 miles). Taylor Street Apartments is also a short drive away from Home Depot (1.7 miles), LA Fitness (2.3 miles), North Perry Airport (2.3 miles) and Seminole Hard Rock Hotel & Casino (3.3 miles). Local schools near the Taylor Street Apartments include McArthur High School (0.6 miles), Hollywood Park Elementary School (1.3 miles), Apollo Middle School (1.4 miles) and Sheridan Hills Elementary School (2.4 miles). There are also multiple nearby colleges and universities including Sheridan Technical College East Campus (2.0 miles), Broward College South Campus (1.8 miles) and Nova Southeastern University (7.1 miles). Nearby medical centers include Memorial Regional Hospital (2.5 miles) and Joe DiMaggio Children’s Hospital (2.5 miles). The location of Taylor Street Apartments affords an investor the opportunity to attract residents that work in any of the major metropolitan areas of South Florida and further harness the exceptionally strong rental growth that South Florida is experiencing.

FOR SALE DETAILS

PRICE

$1,699,000 USD

PRICE/SF

$293 USD /SF

# OF UNITS

9

PRICE/UNIT

$188,778

CAP RATE

6.22%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Taylor Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

C-MU

APN/PARCEL ID

51-41-13-08-0180

ASK ABOUT THIS PROPERTY

Austin MichelsMarcus & MillichapMore Info
561-601-4905

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Austin MichelsMarcus & MillichapMore Info
561-601-4905

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