2314 Polk Street
$2,499,000
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Description
Exceptional investment opportunity in Hollywood, Florida! A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. What sets this property apart is its approved zoning by the City of Hollywood, paving the way for a new 4-floor structure to be built. This expansion would increase income by aligning rents with market rates and adding more units. The owner provides favorable financing terms, requiring only a 30% down payment. Financing...Exceptional investment opportunity in Hollywood, Florida! A 12-unit apartment building promises immediate revenue growth, with units currently leased 35% to 40% below market rates. What sets this property apart is its approved zoning by the City of Hollywood, paving the way for a new 4-floor structure to be built. This expansion would increase income by aligning rents with market rates and adding more units. The owner provides favorable financing terms, requiring only a 30% down payment. Financing is available through a 25-year amortized note, with a balloon payment due in 5 years, offering flexibility for interested parties to discuss specific terms later. Positioned in a prime location, the property is conveniently close to the beach, restaurants, shops, nightlife, and highways.
- Listed by Carlos Azcarate • Apex International Realty, LLC.
Property Details for 2314 Polk Street
Area
3050
AuctionNo
LISTING UPDATED: 04/22/2024 06:01 PM
Property Details for 2314 Polk Street
Status | Active |
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MLS # | A11572661 |
Days on Market | 246 |
Taxes | $33,050 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Commercial/Industrial / Income/Multi Family |
Year Built | 1972 |
Lot Size | 0.47 AC / 20,501 SF |
County | Broward County |
Building Information for 2314 Polk Street
Stories-Residences-Year Built1972Building Size-Lot Size0.47 AC / 20,501 SF
Property Information for 2314 Polk Street
Property History for 2314 Polk Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2314 Polk Street
Taxable ValueLand$184,510Additions$1,269,540Total$1,454,050
Tax Record2023$33,050 ($2,754 / month)
Home Facts
Total Finished SqFt7,632 SqFtAbove Grade Finished SqFt7,632 SqFtStories1Lot Size20,501 SqFtStyleMulti-Family Dwelling (2-4)Year Built1972Year Renovated1973ZoningTC-1CountyBROWARDAPN51-42-16-01-3280
Schools near 2314 Polk Street
This home is within Broward.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
---|---|---|
Oakridge Elementary School PublicPK to 5 | ||
Olsen Middle School Public6 to 8 | ||
South Broward High School Public9 to 12 | ||
Alpha International Academy CharterK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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