6201 Taylor St, Hollywood, FL 33024
- Commercial real estate
- 5,808 SF
- 0.39 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 6201 Taylor St
- Year built
- 1969
- Lot size
- 0.39 lot acres
- Property type
- Commercial real estate
- APN
- 5141 13 08 0180
Description
This 9-unit apartment building in Hollywood, FL, presents a compelling investment opportunity. Boasting 5,808 square feet on a 0.39-acre lot, the property features a mix of one- and two-bedroom units, with 14 parking spaces. Built in 1969, the single-story concrete block building underwent recent upgrades, including a new roof (June 2024) and parking lot resurfacing (2024). The 40/10-year recertification is complete. Currently operating at 95% occupancy, the property offers a 6.03% cap rate and a pro-forma cap rate of 8.22%. The Net Operating Income (NOI) is $102,586, with a pro-forma NOI of $139,717. Individual electric meters and hot water heaters are in place. Average in-place rents are approximately 20% below market, presenting significant upside potential for rental income growth. The property's convenient location near major roadways (Florida Turnpike, State Road 7, I-95), shopping centers (Walmart, ALDI, Publix), and entertainment venues (Seminole Hard Rock Hotel & Casino) ensures strong tenant demand. Nearby schools include McArthur High School, Hollywood Park Elementary, and Apollo Middle School. Proximity to Broward College and Nova Southeastern University further enhances the property's appeal. The asking price is $1,700,000, or $188,889 per unit. This property offers a strong foundation for immediate cash flow and long-term appreciation. The C-MU zoning provides flexibility for future development.
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Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.212166952501
- Latitude
- 26.013139076503
