335 Georgia Street, Hollywood, FL 33019

Property Description

Twelve apartments, ten steps from the Atlantic. Newly priced at $3.99M, or $333K per door. That is below every comparable building on Hollywood Beach.The building is gated and renovated, and sits on the Hollywood Beach Broadwalk, which Travel + Leisure named among America's best. There are twelve 1/1 apartments, each with a full kitchen, split A/C and impact windows. New Spanish tile roof, updated plumbing and electrical, and a tropical courtyard with BBQ and laundry.It is fully leased, with $264K gross rent and $175K NOI (a 4.4% cap in place). Eleven of the twelve leases are month to month, so rents, renovation or licensed nightly rentals are your call.Related Group's 39-story tower is rising on the same Broadwalk, the City's Broadwalk extension begins at Georgia Street, and $1.5B in development surrounds the block. Under BRT-25-R, today's code would allow about five units on this 9,558 SF lot; the twelve here are grandfathered. Fee simple, no HOA, 1031-ready, and the seller is open to a rate buy-down. The full offering package, rent roll and 12-month ledger are available on request.Buy the income. Keep the land. RENT ROLL (from Nov 1, 2026): 7 units at $1,800, 1 unit at $2,000, 4 units at $1,850. Total $22,000/month, $264,000/year. Laundry income approx. $1,440/year. 11 of 12 leases are month to month.IN-PLACE OPERATING EXPENSES (annual): property taxes $46,272; management $14,400; cleaning and maintenance $8,653; waste $6,991; water and sewer $6,252; insurance $4,376; legal and professional $1,800; common electric $1,214; pest control $115. Total $90,073.IN-PLACE NOI: $175,367 (4.4% cap at asking price).PROPERTY: 9,558 SF of land on three combined lots, fee simple. One-story concrete block building, 5,857 SF. Twelve 1/1 apartments, each with full kitchen and split A/C. Impact windows, updated tile roof, plumbing and electrical. Gated tropical courtyard with BBQ and coin laundry. No on-site parking; residents use street parking and nearby city lots.ZONING: BRT-25-R. Current code would allow approx. five units on this lot; the existing twelve are grandfathered. The beach district allows licensed vacation rentals subject to City of Hollywood and State of Florida licensing; buyers should verify requirements, including parking.Figures provided by ownership and the property manager, not audited by the broker. Property taxes will be reassessed after a sale. Buyer to verify all information.