Executive Rental Apartments | 1715 N 16th Ave
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Executive Rental Apartments 1715 N 16th Ave
44 Unit Apartment Building $11,850,049 CAD ($269,319 CAD/Unit) Hollywood, FL 33020
Investment Highlights
- 44* Unit, Apartment Building Located East of US-1 (Federal Highway) in Hollywood (Currently Operating as 44 Units – Licensed as a Legal 43 Units)
- Being Offered for Sale at 9.6x Current Gross Rent and ~8.5 GRM at Market Rents
- Concrete Roof, Central A/C, 3 Laundry Rooms, Elevator, Pool, Storage Rooms
- Rare Opportunity to Acquire 40+ Units East of Federal Highway (US-1) in Broward County
- Value Add Opportunity – 1-Bedrooms averaging $1,600 & 2-Bedrooms averaging $1,850
- Proximate to Federal Highway, Sheridan Street, Hollywood Boulevard, Young Circle, South Broward High School, Hollywood Beach and Downtown Hollywood
Executive Summary
**OFFERS DUE WEDNESDAY 12/4**
The Executive Rental Apartments is a three-story multifamily property built in 1969 and operating as 44 units. The building features concrete block and stucco construction, a flat concrete roof, concrete interior walls, an elevator and central air conditioning. The building spans 29,312 adjusted square feet, and is situated on a 31,629 square foot lot, according to the Broward County Property Appraiser.
The unit mix includes (32) standard one-bedroom | one-bathroom apartments with an average in-place rent of $1,599 per month, (5) large one-bedroom | one-bathroom apartments with an average in-place rent of $1,563 per month, (1) two-bedroom | one-bathroom apartment (unit 104, which is non-conforming) currently rented for $1,600 and (6) two-bedroom | two-bathroom apartments with an average in-place rent of $1,908. Additional property amenities and features include an elevator, three laundry rooms (property-owned) and a swimming pool.
The Executive Rental Apartments is a three-story multifamily property built in 1969 and operating as 44 units. The building features concrete block and stucco construction, a flat concrete roof, concrete interior walls, an elevator and central air conditioning. The building spans 29,312 adjusted square feet, and is situated on a 31,629 square foot lot, according to the Broward County Property Appraiser.
The unit mix includes (32) standard one-bedroom | one-bathroom apartments with an average in-place rent of $1,599 per month, (5) large one-bedroom | one-bathroom apartments with an average in-place rent of $1,563 per month, (1) two-bedroom | one-bathroom apartment (unit 104, which is non-conforming) currently rented for $1,600 and (6) two-bedroom | two-bathroom apartments with an average in-place rent of $1,908. Additional property amenities and features include an elevator, three laundry rooms (property-owned) and a swimming pool.
Property Facts
| Price | $11,850,049 CAD | Building Class | C |
| Price Per Unit | $269,319 CAD | Lot Size | 0.73 AC |
| Sale Type | Investment | Building Size | 29,312 SF |
| No. Units | 44 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1969 |
| Apartment Style | Mid Rise |
| Price | $11,850,049 CAD |
| Price Per Unit | $269,319 CAD |
| Sale Type | Investment |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 29,312 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 1969 |
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Storage Space
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 37 | - | - |
| 2+2 | 7 | - | - |
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PROPERTY TAXES
| Parcel Number | 51-42-10-40-0250 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $8,236,001 CAD |
PROPERTY TAXES
Parcel Number
51-42-10-40-0250
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$8,236,001 CAD
zoning
| Zoning Code | RM-18 |
| RM-18 |
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Executive Rental Apartments | 1715 N 16th Ave
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