The story
An investment worth telling
An income play in the heart of Downtown Hollywood''s Community Redevelopment Area.
Set on a double corner lot with individual electric meters and redevelopment-friendly RMCRA-18 zoning, the building offered stable studio-and-efficiency income today with a clear path to future value.
Listed at $1,390,000 — originally $1,490,000 — Sergey represented the buyer and negotiated it down to a $1,200,000 close, well below both the list and the original ask.
Standout feature
Location plus zoning. A double corner lot inside the Downtown Hollywood CRA under RMCRA-18 — income in place now, with the entitlement backdrop that makes downtown parcels appreciate.
Interesting facts
Things worth knowing
- ◆Downtown Hollywood Community Redevelopment Area; RMCRA-18 zoning.
- ◆Double corner lot with separate electric meters per unit.
- ◆Unit mix per listing: a one-bedroom, large studios, and an efficiency (confirm total count).
- ◆Listing marketed a ~7% proforma return at asking.
- ◆Bought ~$190K under list and ~$290K under the original asking price.
The numbers
The math behind the deal
- List price
- $1,390,000
- Closed price
- $1,200,000
- Original list
- $1,490,000
Represented by
Closed while the buyer's agent was affiliated with Cardinal Realty. Unit count per MLS remarks vs. property-type field is inconsistent — verify legal count before quoting.
All information is deemed reliable but not guaranteed and should be independently verified. Estimated values are AVM estimates as of the date shown, are not appraisals, and do not guarantee current or future value. Certain transactions were completed while an agent was affiliated with another brokerage; attribution is noted per property. SunSt Real Estate LLC. FL Broker License #BK3420278.