22 unit building in the heart of Hollywood with additional value add potential! 8 two bedrooms units and 14 one bedroom units has a monthly income of $37,600, net operating income (NOI) of $306,285 and a cap rate of 6.96%.Building has 22 parking spaces with additional street parking, gated entry, coin laundry and security cameras. Additionally, this property sits on a DH-3 zoned lot, allowing for huge potential redevelopment. Located in the Dixie Highway Mixed Use District, property can be up to 10 stories or max 140 Ft. Potential use as Retail, Hotel, Multi-Family or Mixed Use making it an attractive option for investors looking to capitalize on future growth opportunities in the area.
Investment
$8,096 Monthly Maintenance/CC
$47,227 Annual Tax
Built in 1962
MLS/Listing ID A11766910
BONNIE VILLA APTS CO-OP
2 Stories
22 Units
Cooling - Ceiling Fans
Heating - Wall Units
Blinds
Listing Courtesy of REACTION REALTY GROUP, INC., FLORENCE KHAN - 954-553-8711
Source of Data: MIAMI ASSOCIATION OF REALTORS