930 N 14Th Ct Hollywood, FL 33020

Property Details for 930 N 14Th Ct

Year built

1965

Property size

10,660 SF

Property type

Commercial real estate

APN

514210190460

Description

This exceptional 14-unit apartment building presents a compelling investment opportunity in Hollywood, Florida. Boasting a 6.28% cap rate and a substantial net operating income (NOI) of $282,561, this stabilized property offers immediate cash flow. The 10,660 square foot building, constructed in 1965 and extensively renovated between 2019 and 2023, features 13 spacious one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. All units are currently 100% occupied with annual leases, and recent upgrades include modern cabinetry, stainless steel appliances, granite/quartz countertops, and ceramic tile. Impact windows and doors enhance security and energy efficiency. The property also includes a coin-operated laundry facility, a security camera system, and ample parking with 28 spaces (2 per unit). Situated on a 12,444 square foot lot (APN: 514210190460) in a desirable location east of US1, near Hollywood Beach Golf Club, restaurants, shopping, and beaches, this property benefits from its proximity to Fort Lauderdale Airport. The building is zoned RM, and the seller is offering financing options. The current gross income is $365,400, with potential for significant growth as rents are raised to market rates of $2,100-$2,200 per month for the one-bedroom units. A pro forma gross income of $378,600+ is projected for 2024 and beyond. The property's high elevation and well-maintained condition further enhance its value. There is even potential to add a pool in the courtyard area. This is a rare opportunity to acquire a high-performing, well-located multifamily asset with significant upside potential.