1934 Madison St Hollywood, FL 33020
- Apartment buildings
- 2,200 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1934 Madison St
- Year built
- 1970
- Property size
- 2,200 SF
- Property type
- Apartment buildings
Description
This exceptional 5-unit apartment building, located at 1934 Madison St, Hollywood, FL 33020, presents a prime investment opportunity. Boasting a 7.55% cap rate and 100% occupancy, this stabilized multifamily property offers a strong return on investment. The 2,200 square foot building, constructed in 1970 and renovated in 2022, sits on a 5,400 square foot lot and is zoned PS-2. Each of the five studio/1-bathroom units features tile flooring, impact windows, and a range, refrigerator, and microwave. Water, sewer, and trash are included in the rent. Ample parking is available. The building's strong structural integrity, including a durable metal roof, ensures long-term value. Its prime East Hollywood location, just minutes from Hollywood Beach, provides easy access to dining, entertainment, and the beach. The property's Net Operating Income (NOI) is $90,500, with an asking price of $1,199,000 ($239,800 per unit and $545 per square foot). This represents a compelling opportunity for investors seeking a well-maintained, high-performing asset in a desirable location. The property has been successfully operated as a 5-unit building for over 40 years, demonstrating its consistent rental potential. This turnkey investment is ready for immediate income generation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.146
- Latitude
- 26.0068
