335 Georgia St, Hollywood, FL 33019

Property Description

Twelve apartments, ten steps from the Atlantic, at $333K per door. That is below every comparable Hollywood Beach building on the market. A gated, renovated building on the Hollywood Beach Broadwalk, which Travel + Leisure named among America's best. Twelve 1/1 apartments, each with a full kitchen, split A/C and impact windows. New Spanish tile roof, updated plumbing and electrical, and a tropical courtyard with BBQ and laundry. All twelve are leased, with rents below the area average and 11 of 12 leases month to month. You can raise rents, renovate between tenants, or move to licensed nightly rentals, which the beach district allows. The land is the long game. Under BRT-25-R, today's code would allow about five units on this 9,558 SF lot; the twelve here are grandfathered. Related Group's 39-story tower is rising on the same Broadwalk, the City's Broadwalk extension begins at Georgia Street, and $1.5B in development surrounds the block. Fee simple, no HOA, 1031-ready, and the seller is open to a rate buy-down. The full offering package, rent roll and 12-month ledger are available on request. Buy the income. Keep the land.