611 S 24th Ave, Hollywood, FL 33020

A corner lot in Hollywood held seven apartments. It could one day hold thirty-eight.

The property offered two distinct paths. It was a seven-unit apartment building in Hollywood, generating income today. It was also a half-acre corner site with the verified potential to hold a 38-unit affordable-housing project tomorrow. In April 2026, a buyer acquired both possibilities for the price of one. Oleg Sergiienko of SunSt Real Estate closed the sale at $1,245,000, a basis of approximately $177,900 per existing door. The long-term redevelopment remains an option, subject to municipal approvals, design, and permitting. Any new construction would also require demolishing the current income-producing asset. The purchase was structured around the present. The price was for the seven apartments, allowing the buyer to wait for the right time to address the question of density.

The buyer paid for seven streams of rent. The potential for a larger development on the site came at no extra cost.