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    2720-2723-2741-2742 Polk St Hollywood, FL 33020

    For Sale
    $4,450,000

    Shovel-ready, 90-unit multifamily development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional development opportunity in Hollywood, Florida, presents a fully approved 90-unit multifamily project, ready for immediate construction. Located at 2720-2723-2741-2742 Polk St, in Broward County, zip code 33020, this shovel-ready site comprises two distinct four-story buildings, each encompassing 45 units. The approved plans allow for a boutique luxury development, Midtown 1 and 2, with surface parking conveniently situated adjacent to the property. The current zoning and approvals eliminate lengthy permitting delays, allowing for a swift commencement of construction. Furthermore, the existing properties generate over $11,000 in monthly income from month-to-month tenants, providing a consistent revenue stream until construction begins. This prime location in Hollywood offers significant potential for a high-return investment in a thriving market. The asking price for this exceptional opportunity is $4,450,000. This is a truly dynamic development site with complete approvals in place.

    Property Features for 0 2720-2723-2741-2742 Polk St

    General Information

    Property type
    Multifamily properties
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.162237799306
    Latitude
    26.012280429384

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    FAQs

    What type of property is this?
    Multifamily property - Shovel-ready, 90-unit multifamily development.
    Where is this multifamily property located?
    The property is located at 2720-2723-2741-2742 Polk St Hollywood, FL.
    What is the asking price?
    The asking price for this property is $4,450,000.
    (305) 490-1404
    Request Owner's contact information
    2720-2723-2741-2742 Polk St Hollywood, FL 33020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2720-2723-2741-2742 Polk St Hollywood, FL 33020
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