Renovated Hollywood Multifamily
2221-2223 Adams St Hollywood, FL 33020
2221-2223 Adams St, Hollywood, FL, 33020
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For Sale
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Ten-unit apartment building with value-add potential in prime location.
Property Size7,263 SF
Price / SF$240.95
Days on Market118
Property Features for 2221-2223 Adams St
General Information
- Standard status
- Active
- Size
- 7,263 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing Agency
Marcus & Millichap - Fort Lauderdale
Listed by
Evan Richardson · License #FL SL3134745
Source
Crexi
Added: Mar 23 Checked: Jul 17 at 8:21 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
The Adams Street Apartments, located at 2221–2223 Adams Street in Hollywood, Florida, is a 10-unit multifamily property. The property consists entirely of one-bedroom/one-bathroom units averaging 726 square feet. These units offer spacious layouts in a high-demand rental corridor. The 7,263 square foot asset has recently undergone significant improvements, including a new metal roof and mini-split air conditioning systems throughout. Ongoing parking lot restriping enhances both curb appeal and operational efficiency. Eight of the ten units have been renovated, featuring granite countertops and shaker-style cabinetry. The property also includes four carports, creating an additional income opportunity. Positioned just minutes from Downtown Hollywood, Young Circle, and Hollywood Beach, the property benefits from strong local demand driven by hospitality, retail, and healthcare employment. With proximity to US-1, I-95, and the Brightline station, Adams Street Apartments offers tenants convenient connectivity throughout Broward and Miami-Dade Counties. This property presents an opportunity to acquire a well-located, partially renovated multifamily asset in one of South Florida’s most active rental submarkets, with continued value-add potential and durable long-term fundamentals.
Key Highlights
- Prime location minutes from Downtown Hollywood, Young Circle, and Hollywood Beach
- Eight of ten units are renovated with granite countertops and shaker‑style cabinetry
- New metal roof and mini‑split air conditioning systems enhance property value
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $231.0k | $31.80 |
| − Vacancy | −$10.9k | −$1.49 |
| EGI | $220.1k | $30.31 |
| − OpEx | −$99.0k | −$13.64 |
| NOI | $121.1k | $16.67 |
7,263 SF · lease $31.80/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,059 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.31M
NOI $198,890 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Ten-unit apartment building with value-add potential in prime location.
Where is this apartment building located?
The property is located at 2221-2223 Adams St Hollywood, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime location minutes from Downtown Hollywood, Young Circle, and Hollywood Beach; Eight of ten units are renovated with granite countertops and shaker‑style cabinetry; New metal roof and mini‑split air conditioning systems enhance property value
