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    1841 Mayo St Hollywood, FL 33020

    Sponsored
    For Sale
    $1,650,000

    Two lots, 16,377 sq ft, high-intensity multi-family zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Prime Hollywood, Florida development opportunity awaits with this combined offering of two lots at 1841 and 1847 Mayo Street, totaling 16,377 square feet. Currently zoned for high-intensity multi-family use, this property presents a unique chance to create a lucrative rental complex. The site plan is in the development phase, allowing for significant flexibility in design and construction. The zoning permits the construction of up to 42 one-bedroom units or a mixed-use complex of up to 32 units, incorporating studios, one-bedroom, and two-bedroom apartments. This presents a substantial opportunity to capitalize on the high demand for rental properties in this rapidly growing market. Currently, the property generates a monthly rental income of $1500 per existing home, significantly below market value, indicating substantial potential for increased revenue upon redevelopment. The existing month-to-month tenants provide immediate cash flow while development plans are finalized. This exceptional property is offered at $1,650,000 and represents a compelling investment prospect for savvy developers seeking to establish a high-yield rental portfolio in a thriving South Florida location. The property's location in Broward County, Florida, within the vibrant city of Hollywood, ensures easy access to major transportation routes, amenities, and a strong rental market.

    Property Features for 1841 Mayo St

    General Information

    Property type
    Specialty properties

    HighLights

    • $1,650,000 asking price.
    • Special purpose property.
    • Hollywood, FL location at 1841 Mayo St, Broward County, 33020.
    • 16,377 sq ft combined lot size (two parcels: 1841 & 1847 Mayo St).
    • High‑intensity multi‑family zoning, allowing up to 42 (1/1) or 32 mixed‑unit (studios, 1BR, 2BR) development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hollywood
    County
    Broward
    State
    Florida
    Longitude
    -80.1440141
    Latitude
    25.9987417

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    FAQs

    What type of property is this?
    Specialty property - Two lots, 16,377 sq ft, high-intensity multi-family zoning.
    Where is this specialty property located?
    The property is located at 1841 Mayo St Hollywood, FL.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: $1,650,000 asking price.; Special purpose property.; Hollywood, FL location at 1841 Mayo St, Broward County, 33020.
    Request Owner's contact information
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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
    1841 Mayo St Hollywood, FL 33020
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