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$ 1,750,000
Est. payment | /mo
0.35 Acres Lot
$ 1,750,000
Est. payment | /mo
0.35 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Hold
Purchase Type For Sale
Subdivision Hollywood
MLS Listing ID B26035471
HOA Y/N No
Annual Tax Amount $9,585
Tax Year 2025
Lot Size 0.350 Acres
Acres 0.35
Lot Dimensions 113 X 137
Property Sub-Type Unimproved Land
Property Description
Prime redevelopment opportunity in Hollywood's rapidly transforming DH-2 corridor. Ideal for investors, developers, and owner-users seeking exposure to one of South Florida's most active urban infill markets. Conveniently located near Downtown Hollywood, Young Circle, US-1, beaches, and major employment centers. Existing improvements may provide interim income while pursuing future redevelopment. The area continues to benefit from revitalization, new mixed-use projects, and strong rental demand. Seller financing available for qualified buyers with as little as 40% down and a below-market interest rate, creating a unique opportunity. the assemblage may support a future residential development program of approximately 29 to 32 units subject to zoning verification, site planning and parking. Executive Summary The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the 9-unit apartment complex generates immediate cash flow with an estimated 5% capitalization rate, providing investors with stable income from day one while preserving the flexibility to pursue future redevelopment. Unlike traditional development sites that often require carrying costs without income, this assemblage allows investors to collect revenue while planning and entitling a higher-density project. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. This structure significantly reduces the purchaser's upfront equity requirement, improves cash-on-cash returns, and creates positive leverage that may outperform conventional financing alternatives. In today's lending environment, access to favorable seller financing represents a substantial economic advantage and may allow investors to achieve enhanced returns while preserving capital for future improvements or development activities. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential. Based upon preliminary planning assumptions, the assemblage may support a future residential development program of approximately 29 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals. The combination of existing income, assembled land area, and redevelopment flexibility creates a compelling covered-land investment strategy. Investment Highlights Current Yield Strategy • Nine-unit multifamily assemblage with immediate income. • Estimated 5% in-place capitalization rate. • Rear gated parking area providing operational flexibility and tenant appeal. • Potential for continued rental growth through proactive asset management. Enhanced Returns Through Seller Financing • Seller willing to hold a purchase money mortgage. • Approximately 40% down payment requirement. • Below-market interest rate. • Improved cash-on-cash returns and reduced equity exposure. • Ability to preserve capital for future value-add improvements or redevelopment planning. Future Development Opportunity • Preliminary redevelopment potential of approximately 29 to 32 residential units. • Located within a rapidly evolving East Hollywood corridor benefiting from continued investment and redevelopment activity. • Opportunity to create substantial land value through future entitlement and development. • Existing income stream helps offset carrying costs during the planning and entitlement process. The Buchanan Street assemblage is therefore positioned as more than a traditional multifamily acquisition. It is a strategic Mid-Core investment offering three distinct value drivers: immediate cash flow, favorable seller financing, and long-term redevelopment optionality. Few opportunities offer investors the ability to generate current income, enhance returns through attractive financing terms, and maintain control of a site with meaningful future development potential.
Location
State FL
County Broward
Community Near Schools
Area 3050
Interior
Fireplace No
Exterior
Community Features Near Schools
Utilities Available Cable Connected, Electricity Connected, Natural Gas Not Available, Sewer Connected, Water Connected
Water Access Desc Public
Present Use Investment
Street Surface Asphalt
Building
Lot Description Business Park, Central Business District, Corner Lot, City Lot, Industrial Park, 1/4 to 1/2 Acre Lot
Faces Northwest
Sewer Public Sewer
Water Public
Schools
Elementary Schools Dania
Middle Schools Olsen
High Schools South Broward
Others
Pets Allowed No
Tax ID 514215013360
Acceptable Financing Owner Will Carry
Membership Fee Required false
Listing Terms Owner Will Carry
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/615-N-20th-Avenue-Hollywood-FL-33020/unbranded
Listed by Peter Dacko III Media Realty
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