Renovated Hollywood Multifamily
2221-2223 Adams St, Hollywood, FL 33020
Ten-unit apartment building with value-add potential in prime location.
Type:Multifamily
Property size:
7,263 SFPrice / SF:
$254/SF- Added:
- Mar 23, 2026
- Days on Market:
- 55
- Last Refresh:
- Mar 25 at 8:45 am
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 agent Evan Richardson License #FL SL3134745
Listing office Marcus & Millichap - Fort Lauderdale
Listing date Mar 23, 2026
Source Crexi
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
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
- Spacious one‑bedroom/one‑bathroom units averaging 726 square feet
- Excellent connectivity via US‑1, I‑95, and the Brightline station
- Four carports offer additional income potential
Overview
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.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.35M
NOI $121,059 @ 9.00% cap · cautious / downside scenario
Moderate
$1.73M
NOI $121,059 @ 7.00% cap · market / base-case scenario
Aggressive
$2.42M
NOI $121,059 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,059 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.31M
NOI $198,890 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.151603
- Latitude
- 26.0054476
Nearby Similar for Sale
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 $1,850,000.
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
