December 30, 2024 – Hernando Perez of Horvath & Tremblay has arranged the sale of Beach Heights Flats, a ten (10) unit multi-family building in Hollywood, Florida. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,775,000.
Beach Heights Flats is a 10-unit multi-family property located at 6034 Arthur Street in Hollywood, Florida. The property was built in 1975 of reinforced concrete with a hip/gable pitched roof and sits on a .32-acre lot. The property is located just west of SR 7/441, south of Sheridan Street, north of Hollywood Boulevard, and east of the Florida Turnpike. The neighborhood consists primarily of single-family homes and multifamily buildings of similar age and construction. The Property consists of one two story building with a unit mix of (10) one-bedroom & one-bathroom apartments totaling approximately 6,758 RSF. All units offer central air conditioning and open floor plans with eat in kitchens. All units were renovated in 2017-2018 including kitchen cabinets with modern appliances, bathroom vanities & fixtures, tile work throughout, central air conditioners and impact resistant windows. Other improvements made included new electric breaker panels and PVC plumbing. On-site amenities include a laundry room with plumbing and electric hook-ups, in which the new owner can install their own washer & dryer for additional income, plus ample parking for residents and their guests. Water, sewer, and trash are included in the rent. Residents pay for all other utilities. Beach Heights Flats offers a well-located, cash-flowing, stable asset with attractive in-place income and a conservative 10% upside in future rents, in a strong rental sub-market of Hollywood nearby national retailers and major employers like the Seminole Hard Rock Hotel, Hollywood/Fort Lauderdale International Airport, Port Everglades and many amazing local eateries & resorts along the World-Famous Hollywood Beach Boardwalk.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.