1947 Madison St Hollywood, FL 33020
- Apartment buildings
Current Use by Public Records
- Tercero's Construction & Home Remodeling Corp / Interior Construction Contractor
Property Details for 1947 Madison St
- Year built
- 1967
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
Exceptional investment opportunity in Hollywood, Florida, presents a five-unit apartment building at 1947 Madison St, 33020. This two-story, 1967-built property offers a compelling blend of immediate income and significant long-term potential. The building comprises three two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units, all equipped with separate Florida Power & Light (FPL) meters. A shared laundry room with its own FPL meter adds further convenience. The property boasts a newer roof and has recently undergone fumigation, complete with a one-year warranty. Ample parking is provided with five designated spaces. Its strategic location near Young Circle offers easy access to downtown Hollywood, the airport, seaport, and beaches. Currently generating a gross operating income of $8,184 per month, with an additional potential income of $1,700 per month from a recently listed fifth unit, this property presents a strong cash flow. Furthermore, its designation as an Opportunity Zone allows for the potential development of a modern building up to 55 feet high, or a five-story structure, unlocking substantial future upside.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.1464
- Latitude
- 26.007
