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Multifamily

Sunny Pines Apartments

530 NW 62 Ave, Hollywood, FL 33024

Listing Price: $700,000

Cap Rate
5.01%
Number of Units
6
GRM
10.09
Occupancy
95.0%
Price/Unit
$116,667
Price/Gross SF
$236.33
Gross SF
2,962

Investment Overview

Marcus & Millichap is pleased to offer for sale Sunny Pines Apartments, a six-unit property located on Northwest 62nd Avenue which is just east of the Florida Turnpike and north of Hollywood Boulevard. The address is 530 N 62 Avenue, Hollywood, Florida. The property was constructed in 1959 of concrete block with painted stucco exterior and the building sits on a 0.21-acre lot. The property is comprised of one building with six, one bedroom/one-bathroom units which are approximately 494 square feet.
Hollywood is home to the Hollywood International Airport, the only international airport serving Broward County. The airport is situated in the northern portion of the city and provides national and international travel. Hollywood is also located in close proximity to Port Everglades, which is recognized as a hub for north-south trade with growing Latin American and Caribbean markets.
The property is being offered for sale at $700.000 which equates to $116,667 per unit or a 5% Cap Rate on the current numbers and a Pro Forma 6.28% Cap Rate.

Investment Highlights

  • Strong Hollywood Rental Market
  • Majority of Windows Have Been Replaced
  • Value Add Opportunity Through Raising Rents
  • Close Proximity to Floridas Turnpike

Exclusively Listed By

Multifamily

Sunny Pines Apartments

Listing Price: $700,000

Cap Rate
5.01%
Number of Units
6
GRM
10.09
Occupancy
95.0%
Price/Unit
$116,667
Price/Gross SF
$236.33
Gross SF
2,962

Investment Highlights

  • Strong Hollywood Rental Market
  • Majority of Windows Have Been Replaced
  • Value Add Opportunity Through Raising Rents
  • Close Proximity to Floridas Turnpike

Investment Overview

Marcus & Millichap is pleased to offer for sale Sunny Pines Apartments, a six-unit property located on Northwest 62nd Avenue which is just east of the Florida Turnpike and north of Hollywood Boulevard. The address is 530 N 62 Avenue, Hollywood, Florida. The property was constructed in 1959 of concrete block with painted stucco exterior and the building sits on a 0.21-acre lot. The property is comprised of one building with six, one bedroom/one-bathroom units which are approximately 494 square feet.
Hollywood is home to the Hollywood International Airport, the only international airport serving Broward County. The airport is situated in the northern portion of the city and provides national and international travel. Hollywood is also located in close proximity to Port Everglades, which is recognized as a hub for north-south trade with growing Latin American and Caribbean markets.
The property is being offered for sale at $700.000 which equates to $116,667 per unit or a 5% Cap Rate on the current numbers and a Pro Forma 6.28% Cap Rate.

Exclusively Listed By

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