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Multifamily

The Jackson Street Portfolio

2915 & 2918 Jackson Street, Hollywood, FL 33020

Listing Price: $4,420,000

Cap Rate
4.36%
Number of Units
34
Price/Unit
$130,000
Price/Gross SF
$215.05
Gross SF
20,553

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Jackson Street Portfolio, consisting of two buildings and 34 units, in Hollywood, Florida. SUBJECT PROPERTY 2915 Jackson Street is a 14-unit, one-story apartment building constructed in 1961 of concrete block and painted stucco. The property is comprised of a 7,684 square foot building on a 20,518 square-feet lot, zoned MC-1, according to the Broward County property appraiser. Units feature ceramic tile flooring, electric appliances and wall air conditioning units. Common area amenities include a gated courtyard and laundry room. The unit mix is comprised of (4) studio apartments with an average in-place rent of $850 and (10) one-bedroom | one-bathroom apartments with an average in-place rent of $915. 2918 Jackson Street is a two-story apartment building constructed in 1963 of concrete block and painted stucco. The property is comprised of a 12,869 square foot building on a 20,009 square-feet lot, zoned RM-12, according to the Broward County property appraiser. Units feature ceramic tile flooring, electric appliances and wall air conditioning units. Common area amenities include on-site laundry facilities. The unit mix is comprised of (15) one-bedroom | one-bathroom apartments with an average in-place rent of $962 and (5) two-bedroom | one-bathroom apartments with an average in-place rent of $1260. LOCATION The Jackson Street Portfolio is located directly east of Interstate 95, just a few blocks south of Hollywood Boulevard. The location is also proximate to Dixie Highway and Federal Highway (US-1). The Jackson Street Portfolio is within walking distance of the Hollywood Branch Library (0.5 miles) and City Hall (0.5 miles). The property is also just a short drive from Publix Supermarket at Hollywood Mall (1.5 miles) and Hollywood Circle (1.9 miles), which offers a variety of shopping, dining, entertainment attractions and employment centers. Other nearby points of interest include Art’s Park at Young Circle (1.7 miles), Memorial Regional Hospital (1.9 miles), Hollywood Beach Golf Club (2.4 miles), the Art & Culture Center of Hollywood (2.5 miles), Hollywood Beach (3.4 miles), Gulfstream Park Casino and Racetrack (3.6 miles), Margaritaville Hollywood Beach Resort (3.8 miles), the Diplomat Beach Resort (4.8 miles), Aventura Mall (5.0 miles) and Seminole Hardrock Hotel & Casino (6.1 miles). Nearby educational centers include Colbert Elementary School (0.7 miles), McNicol Middle School (1.9 miles), Hallandale High School (1.4 miles), Hollywood Central Elementary School (2.0 miles) and South Broward High School (2.8 miles). The surrounding neighborhood consists primarily of single-family homes and multifamily properties with an average household income of $78,874 within a 5-mile radius, according to Experian. SUMMARY The Jackson Street Portfolio is offered for sale at $4,420,000 or $130,000 per unit. This value add opportunity offers prospective investors a stabilized capitalization rate above 6% and levered internal rates of return from 16-20%.

Investment Highlights

  • 2-Building, 34-Unit Apartment Portfolio in Hollywood, Florida
  • Value Add Opportunity ($979 Current Average Rent)
  • Ceramic Tile Floors, Electric Appliances, Wall Air Conditioning Units
  • Easy Access to Interstate 95, Hollywood Boulevard, Dixie Highway and US-1
  • Proximate to Downtown Hollywood and Numerous Employment Centers, as well as, Shopping, Dining and Entertainment Destinations

Exclusively Listed By

Listing Price: $4,420,000

Cap Rate
4.36%
Number of Units
34
Price/Unit
$130,000
Price/Gross SF
$215.05
Gross SF
20,553

Investment Highlights

  • 2-Building, 34-Unit Apartment Portfolio in Hollywood, Florida
  • Value Add Opportunity ($979 Current Average Rent)
  • Ceramic Tile Floors, Electric Appliances, Wall Air Conditioning Units
  • Easy Access to Interstate 95, Hollywood Boulevard, Dixie Highway and US-1
  • Proximate to Downtown Hollywood and Numerous Employment Centers, as well as, Shopping, Dining and Entertainment Destinations

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Jackson Street Portfolio, consisting of two buildings and 34 units, in Hollywood, Florida. SUBJECT PROPERTY 2915 Jackson Street is a 14-unit, one-story apartment building constructed in 1961 of concrete block and painted stucco. The property is comprised of a 7,684 square foot building on a 20,518 square-feet lot, zoned MC-1, according to the Broward County property appraiser. Units feature ceramic tile flooring, electric appliances and wall air conditioning units. Common area amenities include a gated courtyard and laundry room. The unit mix is comprised of (4) studio apartments with an average in-place rent of $850 and (10) one-bedroom | one-bathroom apartments with an average in-place rent of $915. 2918 Jackson Street is a two-story apartment building constructed in 1963 of concrete block and painted stucco. The property is comprised of a 12,869 square foot building on a 20,009 square-feet lot, zoned RM-12, according to the Broward County property appraiser. Units feature ceramic tile flooring, electric appliances and wall air conditioning units. Common area amenities include on-site laundry facilities. The unit mix is comprised of (15) one-bedroom | one-bathroom apartments with an average in-place rent of $962 and (5) two-bedroom | one-bathroom apartments with an average in-place rent of $1260. LOCATION The Jackson Street Portfolio is located directly east of Interstate 95, just a few blocks south of Hollywood Boulevard. The location is also proximate to Dixie Highway and Federal Highway (US-1). The Jackson Street Portfolio is within walking distance of the Hollywood Branch Library (0.5 miles) and City Hall (0.5 miles). The property is also just a short drive from Publix Supermarket at Hollywood Mall (1.5 miles) and Hollywood Circle (1.9 miles), which offers a variety of shopping, dining, entertainment attractions and employment centers. Other nearby points of interest include Art’s Park at Young Circle (1.7 miles), Memorial Regional Hospital (1.9 miles), Hollywood Beach Golf Club (2.4 miles), the Art & Culture Center of Hollywood (2.5 miles), Hollywood Beach (3.4 miles), Gulfstream Park Casino and Racetrack (3.6 miles), Margaritaville Hollywood Beach Resort (3.8 miles), the Diplomat Beach Resort (4.8 miles), Aventura Mall (5.0 miles) and Seminole Hardrock Hotel & Casino (6.1 miles). Nearby educational centers include Colbert Elementary School (0.7 miles), McNicol Middle School (1.9 miles), Hallandale High School (1.4 miles), Hollywood Central Elementary School (2.0 miles) and South Broward High School (2.8 miles). The surrounding neighborhood consists primarily of single-family homes and multifamily properties with an average household income of $78,874 within a 5-mile radius, according to Experian. SUMMARY The Jackson Street Portfolio is offered for sale at $4,420,000 or $130,000 per unit. This value add opportunity offers prospective investors a stabilized capitalization rate above 6% and levered internal rates of return from 16-20%.

Exclusively Listed By

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