807 N 24th Ave - Approved Plans for 21 Large Units
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807 N 24th Ave - Approved Plans for 21 Large Units
0.32 Acres of Residential Land Offered at $1,300,000 in Hollywood, FL 33020
Investment Highlights
- Approved plans for a 4-story building featuring 21 spacious one-bedroom apartments (nearly 1,000 sqft each)
- Structured Parking not required- making development cost more affordable (23 parking spaces)
- Minutes away from Young Circle, Shopping, Dining and beaches
- Proforma rents of $2500 per unit, NOI of $483K Annually
Executive Summary
Approved plans for a 4-story building featuring 21 spacious one-bedroom apartments (nearly 1,000 sqft each) with modern designs, private terraces, ADA compliance, and a sundeck. Includes ground-level parking with all required spaces (structured parking not required). Conveniently located just minutes from Young Circle, beaches, and within walking distance to the Brightline train stop, this site offers unparalleled potential. A rare chance to develop a premium multifamily project in a thriving location!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$630,000
|
$1,956,521.74
|
| Other Income |
$37,800
|
$117,391.30
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$667,800
|
$2,073,913.04
|
| Taxes |
$120,000
|
$372,670.81
|
| Operating Expenses |
$63,960
|
$198,633.54
|
| Total Expenses |
$183,960
|
$571,304.35
|
| Net Operating Income |
$483,840
|
$1,502,608.70
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $630,000 |
| Annual Per AC | $1,956,521.74 |
| Other Income | |
|---|---|
| Annual | $37,800 |
| Annual Per AC | $117,391.30 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $667,800 |
| Annual Per AC | $2,073,913.04 |
| Taxes | |
|---|---|
| Annual | $120,000 |
| Annual Per AC | $372,670.81 |
| Operating Expenses | |
|---|---|
| Annual | $63,960 |
| Annual Per AC | $198,633.54 |
| Total Expenses | |
|---|---|
| Annual | $183,960 |
| Annual Per AC | $571,304.35 |
| Net Operating Income | |
|---|---|
| Annual | $483,840 |
| Annual Per AC | $1,502,608.70 |
Property Facts
| Price | $1,300,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.32 AC |
| Price | $1,300,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.32 AC |
1 Lot Available
Lot
| Price | $1,300,000 | Lot Size | 0.32 AC |
| Price Per AC | $4,037,267 |
| Price | $1,300,000 |
| Price Per AC | $4,037,267 |
| Lot Size | 0.32 AC |
Key Features: • Land Size: 14,004 Sqft • Zoning: DH-2 • Developed Building Size: 19,603 Sqft • Stories: 4 • Parking Spaces: 23 • Unit Mix: 21 One Bedroom Units
Walk Score ®
Very Walkable (74)
zoning
| Zoning Code | DH-2 (Build up to 4 Stories High) |
| DH-2 (Build up to 4 Stories High) |
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807 N 24th Ave - Approved Plans for 21 Large Units
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