1858 Dewey St 12 Unit Apartment Building $3,385,968 CAD ($282,164 CAD/Unit) 6.30% Cap Rate Hollywood, FL 33020

CORTE REAL ESTATE GROUP, as exclusive advisor, is pleased to present 1858 Dewey Street, an outstanding multifamily investment opportunity nestled in the heart of Hollywood, Florida. The property offers an impressive 6.3%+ capitalization rate, immediate cash flow, rental upside, and significant long-term redevelopment potential.
The offering is currently operated as 12 renovated studio residences and will be delivered fully occupied and fully furnished, providing investors with the opportunity to acquire a turnkey, income-producing asset from day one.
Recently renovated and meticulously maintained, the property offers attractive and functional living spaces designed for comfort and convenience. Each studio is thoughtfully furnished and features split-system air conditioning, a flat-screen television, and a well-appointed kitchen with dining space.
The property currently operates under an all-inclusive rental structure, with Wi-Fi, electricity, and water included in the rent, providing tenants with a convenient and hassle-free living experience. Long-term tenants and annual leases contribute to stable occupancy and consistent income, while additional potential exists to increase rents and improve overall operating performance.
The property is legally recognized as nine units and currently operates as 12 studio residences through an existing flexible configuration with dividing doors. Certain spaces may be rented separately as studios or combined as larger units.
Situated on a generous approximately 0.25-acre lot, the property also presents an exceptional redevelopment opportunity. Subject to independent verification and all required governmental approvals, the site may offer the potential for redevelopment with a new multifamily building of up to five stories.
Located within an Opportunity Zone, the property may also provide qualifying investors with potential federal tax advantages. Buyers should consult with their tax and legal advisors regarding eligibility and applicable benefits.
1858 Dewey Street is strategically positioned near Downtown Hollywood, ArtsPark at Young Circle, restaurants, shopping, entertainment, employment centers, public transportation, Hollywood Beach, the Hollywood Beach Broadwalk, Fort Lauderdale-Hollywood International Airport, and major South Florida transportation corridors.
Downtown Hollywood and the surrounding area continue to experience substantial public and private investment, including new mixed-use development, streetscape improvements, pedestrian-oriented infrastructure, and continued residential and commercial growth. The property’s location positions it to potentially benefit from the area’s continued transformation, increasing rental demand, and long-term appreciation.
INVESTMENT HIGHLIGHTS
• Impressive 6.3%+ capitalization rate
• Fully occupied income-producing property
• Currently operated as 12 furnished studios
• Long-term tenants on annual leases
• Recently renovated
• Sold fully furnished
• Approximately 0.25-acre lot
• Located within an Opportunity Zone
• Potential to increase rental income
• Turnkey all-inclusive rental operation
• Potential future redevelopment opportunity
• Potential development of up to five stories, subject to verification and governmental approvals
• Close to Downtown Hollywood and ArtsPark at Young Circle
• Convenient access to Hollywood Beach and the Hollywood Beach Broadwalk
• Convenient access to Fort Lauderdale-Hollywood International Airport
• Close to major roadways, public transportation, shopping, dining, and entertainment
• Detailed financial information available upon execution of a confidentiality agreement
Detailed financial information, including the rent roll, operating expenses, leases, and Net Operating Income, will be made available to qualified prospective purchasers following execution of a confidentiality and non-disclosure agreement.
1858 Dewey Street represents a rare opportunity to acquire a fully occupied, furnished, and recently renovated multifamily asset offering immediate income, potential rental growth, and meaningful long-term redevelopment potential in one of South Florida’s most strategically located coastal communities.