1948 Buchanan ST, Hollywood, FL
1948 Buchanan ST, Hollywood, FL
1948 Buchanan ST, Hollywood, FL
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Kevin Morris

Kevin Morris

+1(954) 756-5030
$1,825,000
Est. payment /mo
5,613 SqFt
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Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,613 sqft

Price per Sqft $325

MLS Listing ID B26034874

Construction Status Resale

HOA Y/N No

Year Built 1964

Annual Tax Amount $34,976

Tax Year 2026

Lot Size 0.350 Acres

Acres 0.35

Property Sub-Type Multi Family

Property Description

The Buchanan St / N 20th Ave 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, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. 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. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage is a compelling East Hollywood Mid-Core investment combining immediate income, favorable seller financing, and long-term redevelopment potential. Located at 1948 and 1952 Buchanan Street and 615 North 20th Avenue, the portfolio includes nine residential units with rear gated parking. The property currently generates stable cash flow at an estimated 5% capitalization rate, allowing an investor to earn income while evaluating future development plans. The seller is willing to provide purchase money financing with approximately 40% down and a below-market interest rate, reducing the purchaser's initial equity requirement and potentially improving cash-on-cash returns. Based on preliminary planning assumptions, the assemblage may support approximately 29 to 32 residential units, subject to zoning, parking, site-plan, utility-capacity, and municipal approvals. This creates a covered-land strategy in which existing rental income helps offset carrying costs during the entitlement and development process. The opportunity is driven by three primary components: Immediate cash flow from nine existing units Attractive seller financing with reduced equity exposure Redevelopment optionality within a growing East Hollywood corridor Overall, the assemblage offers investors the ability to generate current income while controlling a strategically located site with meaningful future development potential.

Location

State FL

County Broward

Area 3050

Zoning DH-2

Interior

Interior Features InteriorFeatures

Heating Central, Individual, Wall Furnace

Cooling Central Air, Wall/Window Unit(s)

Flooring Ceramic Tile

Fireplace No

Exterior

Fence Fenced, Front Yard, Gate

Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected

Water Access Desc Public

Roof Type Shingle

Street Surface Alley Paved,Asphalt

Accessibility None

Road Frontage City Street

Total Parking Spaces 13

Building

Lot Description 1/4 to 1/2 Acre Lot

Story 1

Sewer Public Sewer

Water Public

Structure Type Stucco

New Construction No

Construction Status Resale

Others

Tax ID 514215013350

Security Features None

Acceptable Financing Owner Will Carry

Listing Terms Owner Will Carry

Special Listing Condition Standard, Listed As-Is

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BeachesMLS, Inc. (FLR) IDX
Listed by Peter Dacko III Media Realty

NEARBY SCHOOLS & PROPERTIES

Kevin Morris

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(954) 756-5030

kevinsellshomeshere@gmail.com

934 N University Dr. Suite 226, Springs, FL 33071, United States

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1948 Buchanan ST