Buchanan Center Multifamily Homes Sold

702 N. 20th Ave. is a duplex containing 2 (2/1) Apartments being rented below market on a month-to-month basis. Each unit contains approximately 737 square feet. It has an attractive s tile roof and open parking. Tenants are responsible for water, sewer and trash. Hollywood is experiencing a tremendous renaissance with a plethora of new construction throughout the east side of the city including Royal Poinciana which is located directly north of Downtown Hollywood. Here residents have easy access to shopping centers, restaurants, nightlife spots and art studios. close to Young Circle Park, a popular green space destination for art festivals, food trucks, concerts and movie screenings PGI $34,800 - $44,400. NOI $18,369 - $27,489

VALUE ADD 702 N. 20th Ave. currently consists of 5 units. It must be noted that there is a violation for work being conducted without a permit. As a result, the property must be converted back to a 4 Plex. The current configuration contains 2 studio apartments, 2 one-bedroom apartments, and one two-bedroom one bath apartment. Once converted the property will contain (1/1)’s + (0/1) + (2/1) + (2/2) for a total of 4 units. It is significant to note that the rents are under market value. MUST BE PURCHASED CASH. There are no liens assessed to the property. Code enforcement will allow the sale to take place and provide ample time for the purchaser to cure the violation. Property provides a 6.5% cap rate based on market rents.