615 N 20th Ave Land in Hollywood, FL 33020
New - 6 days 16 hrs ago
$1,875,000
0.36
AcreStatus
Active
Size
0.36 Acres (1,435 m2)
Price
$5,208,333/Acre ($1,307/m2)
Type
Land
MLS Number
B26035471
On Site
6 Days
Updated
3 Days ago
Page Views
0
Prime redevelopment opportunity in Hollywood's rapidly transforming DH-2 corridor. Ideal for investors, developers, and owner-users seeking exposure to one of South Florida's most active urban infill markets. Conveniently located near Downtown Hollywood, Young... Read more
Features
All features
- Current Use: Investment
- Approx SqFt Total Area: 15445
- Property SqFt: 15445
- Remarks: Prime redevelopment opportunity in Hollywood's rapidly transforming DH-2 corridor. Ideal for investors, developers, and owner-users seeking exposure to one of South Florida's most active urban infill markets. Conveniently located near Downtown Hollywood, Young Circle, US-1, beaches, and major employment centers. Existing improvements may provide interim income while pursuing future redevelopment. The area continues to benefit from revitalization, new mixed-use projects, and strong rental demand. Seller financing available for qualified buyers with as little as 40% down and a below-market interest rate, creating a unique opportunity. the assemblage may support a future residential development program of approximately 29 to 32 units subject to zoning verification, site planning and parking. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the 9-unit apartment complex generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy • Nine-unit multifamily assemblage with immediate income. • Estimated 5% in-place capitalization rate. • Rear gated parking area providing operational flexibility and tenant appeal. • Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing • Seller willing to hold a purchase money mortgage. • Approximately 40% down payment requirement. • Below-market interest rate. • Improved cash-on-cash returns and reduced equity exposure. • Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity • Preliminary redevelopment potential of approximately 29 to 32 residential units. • Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. • Opportunity to create substantial land value through future entitlement and development. • Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.
- REO: Standard
- Internet Remarks: Prime redevelopment opportunity in Hollywood's rapidly transforming DH-2 corridor. Ideal for investors, developers, and owner-users seeking exposure to one of South Florida's most active urban infill markets. Conveniently located near Downtown Hollywood, Young Circle, US-1, beaches, and major employment centers. Existing improvements may provide interim income while pursuing future redevelopment. The area continues to benefit from revitalization, new mixed-use projects, and strong rental demand. Seller financing available for qualified buyers with as little as 40% down and a below-market interest rate, creating a unique opportunity. the assemblage may support a future residential development program of approximately 29 to 32 units subject to zoning verification, site planning and parking. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the 9-unit apartment complex generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy • Nine-unit multifamily assemblage with immediate income. • Estimated 5% in-place capitalization rate. • Rear gated parking area providing operational flexibility and tenant appeal. • Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing • Seller willing to hold a purchase money mortgage. • Approximately 40% down payment requirement. • Below-market interest rate. • Improved cash-on-cash returns and reduced equity exposure. • Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity • Preliminary redevelopment potential of approximately 29 to 32 residential units. • Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. • Opportunity to create substantial land value through future entitlement and development. • Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.
- Waterfront: No info
- Directions: Northwest
- Days on Market: 3
- Compass Point: N
- Office Name: Media Realty
- Taxes: 9585.74
- Tax Year: 2025
- Listing Date: 2026-06-01T17:45:53.000-00:00
- Lot Size Square Feet: 15445
Apples-to-Apples Comparables
Price History
06/01/2026
Date
Listed
Event
$1.9M
Price
$121 ft2 / $1,307 m2
Price Per
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Peter Dacko • Media Realty • Buyer Agency Compensation .
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