Property Overview

• List Price: $619,900
• Full Address: 2213 Grant St, Hollywood, FL 33020-3466
• Property Status: Active
• Property Type: Multi-Family (Triplex)
• Bedrooms: 5 (3 Units – 3/1, 1/1, 1/1)
• Bathrooms: 3
• City: Hollywood
• State: Florida
• Zipcode: 33020
• Country: USA
• Neighborhood: North Central
• Community: Hollywood Terrace
• Property Size: 2,360 Sq Ft
• Lot Size: 7,500 Sq Ft
• Year Built: 1995

Description

Located just minutes from Hollywood Beach and Downtown Hollywood, this triplex is an excellent investment opportunity with strong rental demand. The property offers a 3-bedroom unit (vacant) and two 1-bedroom units—one vacant and the other occupied on a month-to-month lease at $1,500/month. With immediate leasing opportunities, investors can capitalize on Hollywood’s high-demand rental market. Central cooling and CBS construction provide low-maintenance management, while proximity to shopping, dining, and transportation hubs ensures a steady tenant pipeline.

Realtor Inputs & Market Insights

• Comparable Sales:
  • 2225 Grant St – Sold for $530,000 (2,268 Sq Ft)
  • 1838 McKinley St – Sold for $600,000 (2,444 Sq Ft)
  • 2435 Harding St – Sold for $620,000 (2,255 Sq Ft)
  • 2114 Cleveland St – Sold for $605,000 (2,808 Sq Ft)
• ARV (After Repair Value): $725,000 – $820,000
• Predicted Appreciation (5-10 Years): 2.5% – 4% annually
• Estimated Rental Income: $6,000 – $6,500/month
• Rental Comparison:
  • 1-bed units range from $1,300 – $1,700/month
  • 3-bed units range from $2,400 – $3,000/month

Operating Expenses: Estimated at 30% of gross income

Buy & Hold Projection:

• Estimated Annual Gross Income (Fully Occupied): $72,000 – $78,000
• Annual Operating Expenses (30%): $23,400
• Net Operating Income (NOI): $48,600 – $54,600
• Cap Rate: 8.1% based on a $600,000 purchase price

Breakdown of Repairs Needed

Investor Strategy

• Primary Strategy: Buy & Hold – Maximize cash flow and benefit from Hollywood’s rising rental demand.
• Secondary Strategy: Fix & Flip – Target investors or short-term rental operators in Hollywood’s high-demand market.
• Occupancy: Partially Occupied
• Current Condition: Minor Repairs & Cosmetic Updates Needed
• Estimated Repair Costs: $30,000 – $50,000

Permits & Compliance

• No known liens or violations (Verification recommended).
• Inspection Reports: Property sold as-is; inspections recommended.

Market Trends & Appreciation

• North Central Hollywood Market Trends:
  • Typical Home Values: $372,510
  • 1-Year Value Change: +1.2%
  • Projected 1-Year Growth: +3%
  • Median Listing Price: $427,167

Final Takeaway for Investors

This triplex in Hollywood Terrace offers a prime investment opportunity with flexible rental options. Whether you’re looking for a long-term cash flow property or a fix-and-flip project, this property is well-positioned for profitability. With its proximity to the beach, downtown amenities, and strong rental demand, it’s a must-see for serious investors.

Contact your agent today to schedule a showing!