Hollywood Multifamily Investment
2221 Adams St Hollywood, FL 33020
2221 Adams St, Hollywood, FL, 33020
$1,750,000
For Sale
$1,750,000
Partially renovated 10-unit apartment building near Downtown Hollywood.
Property Size7,260 SF
Price / SF$241.05
Days on Market111
Property Features for 2221 Adams St
General Information
- Standard status
- Active
- Size
- 7,260 SF
- Property subtype
- Multifamily
Listing agency
Fort Lauderdale Office
(954) 245-3415
Listed by
Dillon Majeski · License #License(s): FL: SL3503378
(954) 245-3415
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 10 at 1:14PM Checked: Jul 22 at 2:07AM
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 Fort Lauderdale Office
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 features one-bedroom/one-bathroom units averaging 726 square feet. The asset has undergone improvements, including a new metal roof and mini-split air conditioning systems. The parking lot is undergoing restriping. Eight of the ten units have been renovated, featuring granite countertops and shaker-style cabinetry. The property also includes four carports. The property is located minutes from Downtown Hollywood, Young Circle, and Hollywood Beach, benefiting from local demand driven by hospitality, retail, and healthcare employment. With proximity to US-1, I-95, and the Brightline station, the Adams Street Apartments offers connectivity throughout Broward and Miami-Dade Counties. This presents an opportunity to acquire a partially renovated multifamily asset with value-add potential.
Key Highlights
- Prime location minutes from Downtown Hollywood, Young Circle, and Hollywood Beach
- Significant recent renovations including a new metal roof and mini‑split air conditioning systems
- Eight of ten units renovated with granite countertops and shaker‑style cabinetry
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 | $230.9k | $31.80 |
| − Vacancy | −$10.9k | −$1.49 |
| EGI | $220.0k | $30.31 |
| − OpEx | −$99.0k | −$13.64 |
| NOI | $121.0k | $16.67 |
7,260 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 $121,009 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.31M
NOI $198,808 @ 7.0% cap · market cap 11.36%
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 - Partially renovated 10-unit apartment building near Downtown Hollywood.
Where is this apartment building located?
The property is located at 2221 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; Significant recent renovations including a new metal roof and mini‑split air conditioning systems; Eight of ten units renovated with granite countertops and shaker‑style cabinetry
