2640 Garfield StHollywood, FL 33020

Property Details for 2640 Garfield St

Year built

1957

Property size (Sq ft)

2,751 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a two-unit, single-family rental portfolio located at 2640 Garfield St, Hollywood, FL 33020. The property consists of two detached, single-story homes situated on a spacious 10,500 square foot lot. Built in 1957 and renovated in 2006, the property boasts a total of 2,751 square feet of net rentable space, with each unit offering a private and fenced yard, separate driveways and parking areas, and individual water and electric meters. The front house features 3 bedrooms and 1 bathroom, currently leased for $2,500 per month, while the back house offers 2 bedrooms and 1 bathroom with a partial garage, leased for $2,000 per month. Both units are currently 100% occupied with month-to-month tenants, generating a substantial annual net operating income (NOI) of $54,000. This translates to a compelling 7.71% capitalization rate (Cap Rate) and a price per square foot of $254.45. The property is zoned RS-3 and is eligible for conventional financing, VA, FHA, cash, or hard money loans. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable East Hollywood location, offering significant upside potential. The asking price is $700,000, or $350,000 per unit.

Location Insight

City

Hollywood

County

Broward

State

Florida

Latitude

26.0212

Longitude

-80.1611

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