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Multifamily

Lincoln Gardens Apartments

2643 Lincoln St, Hollywood, FL 33020

Listing Price: $8,000,000

Cap Rate
5.23%
Number of Units
55
GRM
8.98
Occupancy
95.0%
Price/Unit
$145,455
Price/Gross SF
$239.23
Gross SF
33,440

Investment Overview

The Lincoln Gardens Apartments is a one-story, 55-legal unit apartment community located on Lincoln and Johnson Streets Between N 26th and N 28th Ave in Hollywood, which is in Broward County, FL The property is currently operating as 75 units as well as on-site management and maintenance offices. Across the 8 parcels, the property consists of 26 separate buildings spanning over 2.18 acres of land. The property currently consists of 10 two-bedroom units, 24 one-bedroom units, 24 studio units, and 17 efficiencies. The owner is in the process of converting the property back into 55 units when vacancies occur with a projected unit mix of 31 Two-Bedroom, nine (9) One-Bedroom, and 15 Studios. Once units are converted, the tenant will be responsible for their electricity. The total amount of rentable square feet is 33,440 and the buildings were constructed between 1952 and 1987 of concrete block with painted stucco. The owner is currently responsible for all utilities. The property has been undergoing renovations to include new modern split system AC units. The buildings sit on both Lincoln Street and Johnson Street, which back up to each other so all of the properties reside on the same block. The area is experiencing one of the fastest real estate redevelopment and investment surges in the region. These developments include major city projects and private condominium offerings.

The addresses and parcel numbers for the properties are
2639 Lincoln Street: 514216025120
2635 Lincoln Street: 514216025130
2643 Lincoln Street: 514216025140
2626 Johnson Street: 514216025400
2707 Lincoln Street: 514216025180
2638 Johnson Street: 514216025380
2634 Johnson Street: 514216025390
2711 Lincoln Street: 514216025170

Investment Highlights

  • One Story 1952-1987 Concrete Block Construction
  • Sparkling Pool
  • Units Renovated With Modern, Mini Split Air Conditioners
  • All Tile and Terrazzo Flooring

Exclusively Listed By

Financing By

Multifamily

Lincoln Gardens Apartments

Listing Price: $8,000,000

Cap Rate
5.23%
Number of Units
55
GRM
8.98
Occupancy
95.0%
Price/Unit
$145,455
Price/Gross SF
$239.23
Gross SF
33,440

Investment Highlights

  • One Story 1952-1987 Concrete Block Construction
  • Sparkling Pool
  • Units Renovated With Modern, Mini Split Air Conditioners
  • All Tile and Terrazzo Flooring

Investment Overview

The Lincoln Gardens Apartments is a one-story, 55-legal unit apartment community located on Lincoln and Johnson Streets Between N 26th and N 28th Ave in Hollywood, which is in Broward County, FL The property is currently operating as 75 units as well as on-site management and maintenance offices. Across the 8 parcels, the property consists of 26 separate buildings spanning over 2.18 acres of land. The property currently consists of 10 two-bedroom units, 24 one-bedroom units, 24 studio units, and 17 efficiencies. The owner is in the process of converting the property back into 55 units when vacancies occur with a projected unit mix of 31 Two-Bedroom, nine (9) One-Bedroom, and 15 Studios. Once units are converted, the tenant will be responsible for their electricity. The total amount of rentable square feet is 33,440 and the buildings were constructed between 1952 and 1987 of concrete block with painted stucco. The owner is currently responsible for all utilities. The property has been undergoing renovations to include new modern split system AC units. The buildings sit on both Lincoln Street and Johnson Street, which back up to each other so all of the properties reside on the same block. The area is experiencing one of the fastest real estate redevelopment and investment surges in the region. These developments include major city projects and private condominium offerings.

The addresses and parcel numbers for the properties are
2639 Lincoln Street: 514216025120
2635 Lincoln Street: 514216025130
2643 Lincoln Street: 514216025140
2626 Johnson Street: 514216025400
2707 Lincoln Street: 514216025180
2638 Johnson Street: 514216025380
2634 Johnson Street: 514216025390
2711 Lincoln Street: 514216025170

Exclusively Listed By

Financing By

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