6204 Dewey St, Hollywood, FL 33023
2444 Unit Apartment Building | $1,600,000 ($655/Unit) | Hollywood, FL 33023
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,600,000
- Property Type
-
Multifamily
- Square Feet
- 2,444 SF
Listing Contacts
Peter Dacko
Verified Profile
- Property Info
Property Overview
VALUE-ADD - The subject property is two contiguous fourplexes located in west portion of Hollywood and contains eight (1/1) apartments. The property presents itself as a value-add opportunity due to the rents being approximately over 50% below market value with each unit renting at approximately $1000 per month. Market rent is estimated at $1500 per month.
Hollywood is experiencing a tremendous renaissance with the majority of new construction consisting of residential development. The area is considered to have the 2nd largest supply pipeline across all Fort Lauderdale submarkets where over 70% of the new residential supply set to be delivered will be luxury rentals.
The subject property provides a unique opportunity to take advantage of the strong demographics and demand whereby creating
value by repositioning the asset.
Hollywood is experiencing a tremendous renaissance with the majority of new construction consisting of residential development. The area is considered to have the 2nd largest supply pipeline across all Fort Lauderdale submarkets where over 70% of the new residential supply set to be delivered will be luxury rentals.
The subject property provides a unique opportunity to take advantage of the strong demographics and demand whereby creating
value by repositioning the asset.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 1
- Lot Size (sq. ft)
- 10,454 SF
- Units
- 2444
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