2742 Pierce St Hollywood, FL 33020
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 2742 Pierce St
- Year built
- 1940
- Property type
- Small apartment buildings
Description
This exceptional four-unit apartment building in Hollywood, Florida, presents a compelling investment opportunity. Located at 2742 Pierce St, 33020, this property boasts a prime location east of I-95, offering convenient access to downtown Hollywood. The building, constructed in 1940 and situated on one story, has undergone a complete renovation. The four units are configured as follows: three 2-bedroom, 1-bathroom units each generating $2,250 in monthly rent, and one additional unit yielding $1,350 monthly. This translates to a substantial gross annual income of $97,200, representing a near 10% capitalization rate based on current figures. All units are currently leased under annual agreements with a 30-day landlord option for rent increases or vacancy. Tenants are responsible for all utilities. Owner expenses are minimal, encompassing only property taxes, lawn maintenance ($200 monthly), and water ($300 monthly). The property features two separate meters and benefits from a recently replaced roof with an estimated remaining lifespan of 10 years and new air conditioning units. Wholesale financing options are available, including DSCR loans requiring only 20% down and no income verification. This turnkey investment offers strong cash flow and significant potential for future appreciation.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.163038
- Latitude
- 26.0157351
