Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Taylor Street Apartments (herein referred to as “the property”), a nine-unit apartment building situated in the highly desirable West Hollywood submarket of South Florida, just south of the Seminole Hard Rock Hotel & Casino in Hollywood, Florida. Taylor Street Apartments is a single-story, garden-style apartment building comprised of nine units and that was constructed in 1969 of concrete block with painted stucco exterior. The property includes 5,808 square feet of living area and a 16,916 square foot lot according to the Broward County Property Appraiser. Amenities include ceramic tile flooring, electric appliances, coin laundry machines, individual hot water heaters, wall-units and central air conditioning. The roof is pitched asphalt shingle and was replaced in June 2024. The parking lot was also just resealed and has a total of 14 parking spaces. The 40/10-year recertification was recently completed. The unit mix consists of seven one-bedroom apartments with an average in-place rent of $1,441 and two two-bedroom and two-bathroom apartments with an average in-place rent of $1,788. Nearly 60 percent of the units have lease renewals within the next six months, which creates an excellent opportunity to renovate and increase rents. The current average in-place rent is $1,518, which is approximately 25 percent below the market average rent of $1,892. Taylor Street Apartments is located just south of the Seminole Hard Rock Hotel & Casino Hollywood. The property is situated east of the Florida Turnpike, west of North State Road 7 (441) and just north of Hollywood Boulevard. The surrounding area consists primarily of single-family homes and multifamily properties, as well as major commercial properties and retailers along Hollywood Boulevard and the State Road 7 (441) corridor. The location provides easy access to Florida’s Turnpike (200 feet), State Road 7 (0.25 miles), and Interstate 95 (2.8 miles). Taylor Street Apartments is located just a short distance from many retailers such as Walmart Supercenter (0.6 miles), ALDI (0.75 miles), Bank of America (1.5 miles), Walgreens (1.7 miles) and Publix Supermarket at Sheridan Plaza (2.3 miles). Taylor Street Apartments is also a short drive away from Home Depot (1.7 miles), LA Fitness (2.3 miles), North Perry Airport (2.3 miles) and Seminole Hard Rock Hotel & Casino (3.3 miles). Local schools near the Taylor Street Apartments include McArthur High School (0.6 miles), Hollywood Park Elementary School (1.3 miles), Apollo Middle School (1.4 miles) and Sheridan Hills Elementary School (2.4 miles). There are also multiple nearby colleges and universities including Sheridan Technical College East Campus (2.0 miles), Broward College South Campus (1.8 miles) and Nova Southeastern University (7.1 miles). Nearby medical centers include Memorial Regional Hospital (2.5 miles) and Joe DiMaggio Children’s Hospital (2.5 miles). The location of Taylor Street Apartments affords an investor the opportunity to attract residents that work in any of the major metropolitan areas of South Florida and further harness the exceptionally strong rental growth that South Florida is experiencing.