Parkside Flats
Closed2022 Adams St & 2025 Washington St, Hollywood, FL 33020
Property type
Multifamily
Unit / Space count
32
Price
$5,550,000
Building size
17,554 sf
Rentable area
17,554 SF
Year built
1968
Year renovated
Occupancy
Zoning code
Lot size
0.55 Acres
Sold/status
2026-09-01
Sale price
$5550000
Bedroom count
CAP
6.41%
Property description
Discover the prime investment potential of 2022 Adams St in Hollywood, FL, a distinguished property that offers an impressive 10,429 SF building with 20 units, perfectly suited for a Multifamily / Low-Rise/Garden investment. With a construction date of 1968 and zoned DH-3 - DIXIE HIGHWAY HIGH INTENSITY MULTI-FAMILY DISTRICT, this property presents an exceptional opportunity for expansion and development within the thriving Hollywood area. Boasting a remarkable 100% occupancy rate, this well-maintained asset ensures immediate revenue generation and long-term financial security for discerning investors seeking a strong and stable addition to their portfolio. The property's strategic location and established occupancy highlight its desirability, making it an ideal prospect for investors looking to capitalize on the growing demand for multifamily housing in Hollywood, FL. The building's size and favorable zoning provide the perfect foundation for future growth and expansion, presenting an appealing investment opportunity for those seeking to maximize their returns in this sought-after market. Don't miss this chance to acquire a robust and lucrative Multifamily / Low-Rise/Garden investment in the prestigious Hollywood area, where the potential for ongoing success awaits. In addition to its impressive occupancy rate and development potential, 2022 Adams St stands as a solid investment choice due to its significant historical and architectural value. Built in 1968, this property reflects the timeless charm and enduring appeal of classic multifamily structures, offering a blend of character and functionality that resonates with investors and residents alike. The property's historical significance, combined with its favorable zoning and ideal location, positions it as a standout opportunity for investors seeking to secure a Multifamily / Low-Rise/Garden asset that embodies the rich heritage and promising future of the Hollywood, FL market. Embrace the chance to acquire a piece of Hollywood's multifamily history and secure a lasting investment in this remarkable property.
Property highlights
- SOLD For $5,550,000 At 6.41% Cap Rate Which Represent $173,438 Per Unit And $316.17 Per Square Foot
- Fully Off-Market Transaction
- Represented Buyer And Facilitated Successful 1031 Exchange
- Asset Consists Of Two Buildings Directly Across From Each Other Totaling 32 Units, 17,554 SF, and 0.55 AC
- Went From Under Contract To Close In A Month
- Collaborated With Franklin Street Capital AND Insurance To Both Secure Financing For Buyer In Compressed Timeframe And Bind New Insurance Policy