PIERCE STREET COMMONS | 1946 Pierce St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
PIERCE STREET COMMONS 1946 Pierce St
11 Unit Block of Flats £2,342,655 (£212,969/Unit) 7.01% Net Initial Yield Hollywood, FL 33020
Investment Highlights
- Completely Renovated 2024 Multifamily Opportunity With Over a $1,000,000 In Capital Improvements
- Some Exterior Improvements Include Hurricane-Impact Windows & Doors, New Central AC, and Roof
- The Property Sits In a Supreme Location In Walking Distance To Hollywood’s Renowned Young Circle
- Modern-Influenced Design With Luxury Elements - All New Electrical & Plumbing Throughout
- Interior Upgrades To All Units; Waterproof Vinyl Flooring, Quartz Countertops, Premium Kitchen Cabinets, 3-Way Shower System
- Located Between Dixie & Federal Hwy Providing Easy Access To Any Major Highway
Executive Summary
Pierce Street Commons:
Completely Renovated Multifamily Gem in Prime Hollywood Location
Introducing Pierce Street Commons, a fully renovated 11-unit multifamily treasure in the heart of Hollywood, Florida. This exceptional property offers a blend of luxurious living spaces, a modern design, and a highly sought-after location, making it perfect for residents and investors.
Extensive Renovations:
• Completely transformed in 2024 with over $1 million invested.
• Brand new windows, plumbing, electrical systems, roof repairs, stucco, and central AC.
• All units boast high-traffic waterproof vinyl flooring, quartz countertops, stainless steel appliances, white kitchen cabinets, and modern 3-way shower systems.
• Hurricane-impact windows and doors provide extra security and peace of mind.
Spacious and Stylish Units:
• 10 one-bedroom, one-bathroom units (approx. 550 sq. ft.) and 1 studio unit.
• Individual electric meters offer residents control over their utility bills.
• Each unit comes equipped with brand-new split-system air conditioning for ultimate comfort.
Prime Location and Amenities:
• Conveniently situated near downtown Hollywood, transportation hubs, and I-95.
• Walking distance to shops, restaurants, and beautiful Hollywood beaches.
• A large tropical courtyard provides a relaxing outdoor space.
• On-street and limited off-street parking are available.
Investment Opportunity:
• Anticipated rent of $2,200 per month (excluding utilities and internet).
• Projected Gross Rental Income (GRI) exceeds $284,400 and Net Operating Income (NOI) exceeds $210,200.
• Attractive CAP rate of 6.1%.
• Low-maintenance property in a fast-growing market.
A great property for AirBNB or similar vacation rental
Don’t miss this chance to own a fully renovated multifamily asset in a prime Hollywood location. Lighthouse Apartments offers luxurious living spaces, a modern design, and a strong potential for rental income. This is a compelling investment opportunity you won’t want to miss!
Completely Renovated Multifamily Gem in Prime Hollywood Location
Introducing Pierce Street Commons, a fully renovated 11-unit multifamily treasure in the heart of Hollywood, Florida. This exceptional property offers a blend of luxurious living spaces, a modern design, and a highly sought-after location, making it perfect for residents and investors.
Extensive Renovations:
• Completely transformed in 2024 with over $1 million invested.
• Brand new windows, plumbing, electrical systems, roof repairs, stucco, and central AC.
• All units boast high-traffic waterproof vinyl flooring, quartz countertops, stainless steel appliances, white kitchen cabinets, and modern 3-way shower systems.
• Hurricane-impact windows and doors provide extra security and peace of mind.
Spacious and Stylish Units:
• 10 one-bedroom, one-bathroom units (approx. 550 sq. ft.) and 1 studio unit.
• Individual electric meters offer residents control over their utility bills.
• Each unit comes equipped with brand-new split-system air conditioning for ultimate comfort.
Prime Location and Amenities:
• Conveniently situated near downtown Hollywood, transportation hubs, and I-95.
• Walking distance to shops, restaurants, and beautiful Hollywood beaches.
• A large tropical courtyard provides a relaxing outdoor space.
• On-street and limited off-street parking are available.
Investment Opportunity:
• Anticipated rent of $2,200 per month (excluding utilities and internet).
• Projected Gross Rental Income (GRI) exceeds $284,400 and Net Operating Income (NOI) exceeds $210,200.
• Attractive CAP rate of 6.1%.
• Low-maintenance property in a fast-growing market.
A great property for AirBNB or similar vacation rental
Don’t miss this chance to own a fully renovated multifamily asset in a prime Hollywood location. Lighthouse Apartments offers luxurious living spaces, a modern design, and a strong potential for rental income. This is a compelling investment opportunity you won’t want to miss!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£222,216
|
£43.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£222,216
|
£43.26
|
| Taxes |
£28,356
|
£5.52
|
| Operating Expenses |
£29,733
|
£5.79
|
| Total Expenses |
£58,089
|
£11.31
|
| Net Operating Income |
£164,127
|
£31.95
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £222,216 |
| Annual Per SF | £43.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £222,216 |
| Annual Per SF | £43.26 |
| Taxes | |
|---|---|
| Annual | £28,356 |
| Annual Per SF | £5.52 |
| Operating Expenses | |
|---|---|
| Annual | £29,733 |
| Annual Per SF | £5.79 |
| Total Expenses | |
|---|---|
| Annual | £58,089 |
| Annual Per SF | £11.31 |
| Net Operating Income | |
|---|---|
| Annual | £164,127 |
| Annual Per SF | £31.95 |
Property Facts
| Price | £2,342,655 | Building Class | C |
| Price Per Unit | £212,969 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 5,137 SF |
| Net Initial Yield | 7.01% | Average Occupancy | 100% |
| No. Units | 11 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1957/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Apartment Style | Low Rise |
| Price | £2,342,655 |
| Price Per Unit | £212,969 |
| Sale Type | Investment |
| Net Initial Yield | 7.01% |
| No. Units | 11 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 5,137 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built/Renovated | 1957/2024 |
| Parking Ratio | 1.17/1,000 SF |
Unit Amenities
- Air Conditioning
- Kitchen
- Double Pane Windows
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 of 1
Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 51-42-15-01-3550 | Total Assessment | £1,307,943 |
| Land Assessment | £76,805 | Annual Taxes | £28,356 (£5.52/sf) |
| Improvements Assessment | £1,231,138 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
51-42-15-01-3550
Land Assessment
£76,805
Improvements Assessment
£1,231,138
Total Assessment
£1,307,943
Annual Taxes
£28,356 (£5.52/sf)
Tax Year
2024
zoning
| Zoning Code | ND-2 (https://codelibrary.amlegal.com/codes/hollywood/latest/hollywoodldr_fl/0-0-0-946) |
| ND-2 (https://codelibrary.amlegal.com/codes/hollywood/latest/hollywoodldr_fl/0-0-0-946) |
1 of 32
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
PIERCE STREET COMMONS | 1946 Pierce St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.