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MADISON STREET APARTMENTS 1934 Madison St

5 Unit Block of Flats £938,158 (£187,632/Unit) 7.26% Net Initial Yield Hollywood, FL 33020

Investment Highlights

  • Fully rented
  • close to downtown hollywood
  • Impact Windows
  • metal roof

Executive Summary

5 Unit Prime Investment Opportunity in East Hollywood
Madison Street Apartments: Multifamily Gem in Prime Hollywood Location
Welcome to 1934 Madison St, a prime investment property located in the vibrant East Hollywood neighborhood. Just 5 minutes from the stunning Hollywood Beach, this property is an ideal choice for savvy investors or anyone looking to enjoy the best of Florida living.
Key Features:
? Location: Situated in East Hollywood, this property is only a short drive from Hollywood Beach, offering the perfect blend of urban convenience and beachside relaxation.
? Condition: The property is maintained in mint condition, ensuring a hassle-free experience for future owners or tenants.
? Structural Integrity: The building features impact windows throughout and a durable metal roof, providing excellent protection against Florida’s weather conditions.
? Interior: With tile flooring throughout, the property exudes a clean and modern aesthetic.
? Parking: Ample parking is available both at the back and rear of the property, providing convenience for residents and guests.
? Utility Room: An onsite utility room is equipped for a washer and dryer, adding to the convenience of the residents.
Usage and Potential:
? The property has been used as a non-conforming 5-unit building for the past 40 years, highlighting its versatility and long-term rental potential. This offers an opportunity for rental income through weekly or monthly leasing options.
Unit Details:
? Studio/1 Bathroom: Each studio unit is thoughtfully designed to maximize livability and comfort. The units come equipped with essential appliances, including a range, refrigerator, and microwave.
? Utilities Included: Water, sewer, and trash services are included, simplifying the rental process for both owners and tenants.
? Living Experience: Residents will enjoy impact windows throughout and durable tile floors, adding both safety and style to the living space.
Community and Lifestyle:
? Proximity to Amenities: Located in the 33020 area of Hollywood, residents have easy access to local highlights, including diverse dining options, entertainment venues, and vibrant nightlife.
? Leasing Team: The professional leasing team at 1934 Madison St is dedicated to helping you find the perfect unit, offering personalized tours and support.
? Lifestyle: Experience the best of Hollywood’s food, weather, and activities without ever leaving home. This property offers the perfect blend of comfort, convenience, and lifestyle.
Don’t miss this opportunity to invest in a property that combines prime location, excellent condition, and versatile rental potential. Contact the leasing office today to schedule your tour and discover why 1934 Madison St is the right investment for you.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £938,158
Price Per Unit £187,632
Sale Type Investment
Net Initial Yield 7.26%
No. Units 5
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.13 AC
Building Size 2,628 SF
Average Occupancy 100%
Number of Floors 1
Year Built/Renovated 1953/2023
Parking Ratio 1.9/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 5 - -
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (71)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
51-42-15-01-5970
Land Assessment
£38,395 (2024)
Improvements Assessment
£352,517 (2024)
Total Assessment
£390,912 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code RMCRA-18 (RESIDENTIAL MULTIPLE FAMILY (10 DU/AC))
RMCRA-18 (RESIDENTIAL MULTIPLE FAMILY (10 DU/AC))
  • Listing ID: 32368746

  • Date on Market: 06/07/2024

  • Last Updated:

  • Address: 1934 Madison St, Hollywood, FL 33020

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