2543 Polk St - Approved Plans for 33 Large Units
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2543 Polk St - Approved Plans for 33 Large Units
0.47 Acres of Residential Land Offered at $2,350,000 in Hollywood, FL 33020
Investment Highlights
- Approved plans for a 4-story building featuring 33 spacious one-bedroom apartments (nearly 1,000 sqft each)
- Structured Parking not required- making development cost more affordable (42 parking spaces)
- Minutes away from Young Circle, Shopping, Dining and beaches
- Proforma rents of $2500 per unit, NOI of $787K Annually
Executive Summary
Approved plans for a 4-story building featuring 33 spacious one-bedroom apartments, each 1,000 sqft, designed with modern finishes, private terraces, ADA compliance, and a sundeck. The project includes ground-level parking with all required spaces, eliminating the need for structured parking. Conveniently located just minutes from Young Circle, the beaches, and within walking distance to the Brightline train stop, this property offers unmatched potential. A rare chance to develop a high-quality multifamily project in a thriving and desirable area!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $2,350,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.47 AC |
| Price | $2,350,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.47 AC |
1 Lot Available
Lot
| Price | $2,350,000 | Lot Size | 0.47 AC |
| Price Per AC | $4,989,384 |
| Price | $2,350,000 |
| Price Per AC | $4,989,384 |
| Lot Size | 0.47 AC |
Key Features: Land Size: 20,038 Sqft Zoning: MC-1 Developed Building Size: 33,000 Sqft Stories: 4 Parking Spaces: 42 Unit Mix: 33 One Bedroom Units
Walk Score ®
Very Walkable (70)
zoning
| Zoning Code | MC-1 (PLANNED UNIT DEVELOPMENT) |
| MC-1 (PLANNED UNIT DEVELOPMENT) |
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2543 Polk St - Approved Plans for 33 Large Units
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