6201 Taylor StHollywood, FL 33024

Property Details for 6201 Taylor St

Year built

1969

Lot size

0.39 AC

Property size (Sq ft)

5,808 SF

Property type

Apartment buildings

Description

This 9-unit apartment building in Hollywood, FL, presents a compelling investment opportunity. Boasting 5,808 square feet on a 0.39-acre lot, the property features a mix of one- and two-bedroom units, with 14 parking spaces. Built in 1969, the single-story concrete block building underwent recent upgrades, including a new roof (June 2024) and parking lot resurfacing (2024). The 40/10-year recertification is complete. Currently operating at 95% occupancy, the property offers a 6.03% cap rate and a pro-forma cap rate of 8.22%. The Net Operating Income (NOI) is $102,586, with a pro-forma NOI of $139,717. Individual electric meters and hot water heaters are in place. Average in-place rents are approximately 20% below market, presenting significant upside potential for rental income growth. The property's convenient location near major roadways (Florida Turnpike, State Road 7, I-95), shopping centers (Walmart, ALDI, Publix), and entertainment venues (Seminole Hard Rock Hotel & Casino) ensures strong tenant demand. Nearby schools include McArthur High School, Hollywood Park Elementary, and Apollo Middle School. Proximity to Broward College and Nova Southeastern University further enhances the property's appeal. The asking price is $1,700,000, or $188,889 per unit. This property offers a strong foundation for immediate cash flow and long-term appreciation. The C-MU zoning provides flexibility for future development.

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.0131

Longitude

-80.2122

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