2314 Polk St
Hollywood, FL 33020
Sold
Last asked $2,900,000
- Multi-family
- 7,632 SF building
- 0.47 acre lot
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Highlights
- 7,632 SF building on a 20,501 SF (0.47 acres) lot
- 13 units
- Built in 1973
Property facts
- Last asking price
- $2,900,000
- Property type
- Multi-family
- Building size
- 7,632 SF
- Lot size
- 20,501 SF (0.47 acres)
- Year built
- 1973
- Units
- 13
About this property
We are pleased to present 2314 Polk St, a fully occupied 13-unit multifamily asset located just minutes from Young Circle and downtown Hollywood. The property features ten large 1-bedroom units, two 2-bedroom units, and one studio—offering an ideal mix for long-term rental stability and tenant demand. Recent upgrades include a brand-new roof, central A/C systems, freshly painted exterior, updated landscaping, and several renovated interiors. Additional income is generated through a coin-operated laundry room, and the property offers ample on-site parking for tenant convenience. All leases are currently month-to-month, with rents approximately 33% below market—allowing for immediate upside. The property operates at a 5.5% cap rate with a pro forma of 7%. Sitting on a 20,000 SF lot with favorable zoning, the site allows for redevelopment of up to 37 units, making this an outstanding opportunity for both investors and developers seeking value and long-term potential
From the listing broker.