1900 Ocean Dr Hollywood, FL 33019
- Commercial real estate
- 4,958 SF
- 0.19 lot acres
Current Use by Public Records
- Ocean Suites Drive / Hotel
Property Details for 1900 Ocean Dr
- Year built
- 1941
- Lot size
- 0.19 lot acres
- Property size
- 4,958 SF
- Property type
- Commercial real estate
Description
This 10-unit, 4,958 sq ft apartment building, built in 1941, is situated on a 0.19-acre lot in Hollywood, Florida (33019), offering stunning waterfront views on the Stranahan River, less than 600 feet from Hollywood Beach. The property boasts an attractive mix of studios and one-bedroom units, significantly larger than typical boutique hotel rooms, and includes 11 parking spaces. Recent improvements include a resealed parking lot and a new dock (completion in progress), offering additional revenue potential. The existing motel license allows for flexible operation as apartments or short-term rentals, maximizing income potential. Its prime location near the Seminole Hard Rock Hotel & Casino, Hollywood/Fort Lauderdale International Airport, and major roadways ensures strong occupancy rates. The property benefits from a robust rental market and exceptional demographics, with over 91,800 residents and 45,800 employees within a 3-mile radius, boasting an average household income of $87,983. The property's zoning is BRT-25-A1A-C, and the asking price is $3,950,000 ($395,000 per unit, $796.69 per sq ft). The anticipated expansion of gaming at the Seminole Hard Rock Hotel & Casino is projected to further enhance tourism and increase demand for accommodations in the area. This turnkey asset presents a unique investment opportunity with significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.11660152
- Latitude
- 26.02353153
