1943 Buchanan Street
Hollywood, Fl 33020

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Offered at: $375,000
Sq Footage: 4078
Bedrooms: 2 Bedrooms
Bathrooms: 1 Full Bath
Parking: Parking Lot
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Comments of the Subject Property: The property located at 1943-1947 is a unique investment opportunity. It consists of eight rental units and is located in area which is experiencing a rebirth. The property itself consists of two structures totaling 4,078 square feet and was constructed in 1953. The building on the east side consists of a two story building containing 1 (3/1) and 2 (1/1)s. The other structure contains the five efficiencies. This location is desirable due to the proximity of the redevelopment of the downtown corridor of Hollywood and its low density multi-family zoning. The unit breakdown is as follows: (4) Efficiencies (2) One Bedroom/One Bath Apartment Two Bedroom/One Bath Apartment Three Bedroom/One Bath Apartment Comments on Subject Site: The subject site is located within the boundaries of the Community Redevelopment Agency and contains a maximum density which measures +/- 14,490 SF or .33 Acres. This calculation was made by adding the additional square footage of of the street width directly in front of the property on Buchanan Street. Comments on Income Stream: It is important to note that the subject property has two units that rent on a weekly basis. Although renting weekly is more management intensive, it will maximize the scheduled gross income. In addition the subject property is leased below market value. Finally, it is the opinion of the broker that the propertys assessed value is overstated by approximately $235,000. If the assessed value is successfully challenged, it would reduce the tax consequences significantly.
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Features
On site Laundry
Cable Ready
Patio
Private Yard
AC
Parking Lot
No Dogs
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1943 Buchanan Street 1943 Buchanan Street Hollywood, Fl 33020