Sherman Flats
Closed1826-1830 Sherman St, Hollywood, FL 33020
Property type
Multifamily
Unit / Space count
15
Price
$2,550,000
Building size
7,751 sf
Rentable area
7,751 SF
Year built
1966
Year renovated
Occupancy
Zoning code
Lot size
0.45 Acres
Sold/status
Sold · Date unknown
Sale price
$2550000
Unit mix
8x
0br
5x
1br
Bedroom count
Property description
Sherman Flats is a 15-unit 3-building multifamily community located in the heart of Hollywood, Florida, which is in Broward County. The subject property was built in 1964 & 1966 using reinforced concrete block construction with a painted stucco exterior and is situated on 0.45 acres of land. The property is located on the west side of N Federal Hwy and is just a couple of blocks from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. The asset is conveniently located east of I-95, just south of Sheridan St, and north of Taft St. Sheridan St leads into the renowned Hollywood beaches just to the east of the property. Within minutes of driving, you can access the shops and restaurants of Hollywood. Additionally, Sherman Flats is located in one of the fastest-growing markets in Broward County due to it being a favorite spot for local natives. The investment opportunity consists of a unit mix of (8) studios, (5) one-bed & one-bathroom, and (2) two-bed & one-bath totaling approximately 7,751 RSF. The property boasts amenities such as ample parking, lush landscaping, and Laundry on Site. Sherman Flats offers an investor the opportunity to purchase an unbelievably located asset in the heart of one of the hottest markets in Florida. The investment opportunity allows an owner to increase rents in excess of 30% by implementing a modest value add program!
Property highlights
- Sold $2,550,000 ALL Cash
- Sale Represents A $170,000 A Door & $328.98 PSF Price Point
- Franklin Street Exclusively Represented Both Seller & Buyer
- Within 30 Days Of Exclusively Listing The Property It Went Under Contract
- Prime Hollywood Location Situated Between Sheridan Street & Young Circle