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1858 Fletcher St - Multifamily Development | 18 Units Approved 0.19 Acres of Residential Land Offered at $1,702,738 CAD in Hollywood, FL 33020
INVESTMENT HIGHLIGHTS
- Fully approved plans and permitting allow for an immediate start on an 18-unit multifamily development, significantly reducing entitlement risk.
- Projected financials include an estimated gross income of $540,000 and a net operating income of $422,000, supporting attractive investor returns.
- Modern four-story design with covered parking, balconies, and large windows, positioned to capture the demand from today’s lifestyle-oriented renters.
- Prime Hollywood location offers access to major employers, retail and dining corridors, Hollywood Beach, and Fort-Lauderdale International Airport.
EXECUTIVE SUMMARY
1858 Fletcher Street in Hollywood, Florida, offers an exceptional opportunity for investors and developers to launch a shovel-ready multifamily project in one of South Florida’s most sought-after markets. Spanning 8,000 square feet (0.19 acres), the property is offered for cash sale and includes fully approved plans and permitting for an 18-unit multifamily asset, allowing for a seamless transition from acquisition to development. Plans propose a four-story modern structure with ground-level covered parking, featuring sleek architectural lines, balconies, and expansive windows that align with today’s renter preferences.
The approved development is projected to deliver strong financial performance with an estimated gross income of $540,000 and a projected net operating income (NOI) of $422,000. Based on underwriting, the proposed building value is $7,675,000, positioning the asset for attractive returns upon stabilization and enhancing its long-term asset value in a supply-constrained submarket.
Situated just off Pembroke Road, just north of The Big Easy Casino, the property benefits from immediate access to a bustling commercial corridor filled with retailers, restaurants, and essential services that appeal to tenants. The location is approximately 10 minutes from Hollywood Beach’s renowned Broadwalk, a 2.2-mile pedestrian promenade with coastal views, outdoor cafes, and recreational paths. Additional connectivity includes 14 minutes to Fort Lauderdale-Hollywood International Airport (FLL) and approximately 20 miles to Downtown Miami, reinforcing the site’s appeal as a centrally located, lifestyle-driven multifamily investment.
The approved development is projected to deliver strong financial performance with an estimated gross income of $540,000 and a projected net operating income (NOI) of $422,000. Based on underwriting, the proposed building value is $7,675,000, positioning the asset for attractive returns upon stabilization and enhancing its long-term asset value in a supply-constrained submarket.
Situated just off Pembroke Road, just north of The Big Easy Casino, the property benefits from immediate access to a bustling commercial corridor filled with retailers, restaurants, and essential services that appeal to tenants. The location is approximately 10 minutes from Hollywood Beach’s renowned Broadwalk, a 2.2-mile pedestrian promenade with coastal views, outdoor cafes, and recreational paths. Additional connectivity includes 14 minutes to Fort Lauderdale-Hollywood International Airport (FLL) and approximately 20 miles to Downtown Miami, reinforcing the site’s appeal as a centrally located, lifestyle-driven multifamily investment.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER AC (CAD) |
|---|---|---|
| Gross Rental Income |
$764,494
|
$4,110,185.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,290
|
$82,203.71
|
| Effective Gross Income |
$749,205
|
$4,027,981.69
|
| Taxes |
$104,249
|
$560,479.83
|
| Operating Expenses |
$58,380
|
$313,868.70
|
| Total Expenses |
$162,629
|
$874,348.53
|
| Net Operating Income |
$586,576
|
$3,153,633.16
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $764,494 |
| Annual Per AC | $4,110,185.40 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,290 |
| Annual Per AC | $82,203.71 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $749,205 |
| Annual Per AC | $4,027,981.69 |
| Taxes (CAD) | |
|---|---|
| Annual | $104,249 |
| Annual Per AC | $560,479.83 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $58,380 |
| Annual Per AC | $313,868.70 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $162,629 |
| Annual Per AC | $874,348.53 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $586,576 |
| Annual Per AC | $3,153,633.16 |
PROPERTY FACTS
| Price | $1,702,738 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.19 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | MF - Multifamily Hollywood | ||
| Price | $1,702,738 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.19 AC |
| Opportunity Zone |
Yes |
| Zoning | MF - Multifamily Hollywood |
1 LOT AVAILABLE
Lot
| Price | $1,702,738 CAD | Lot Size | 0.19 AC |
| Price Per AC | $9,156,965.40 CAD |
| Price | $1,702,738 CAD |
| Price Per AC | $9,156,965.40 CAD |
| Lot Size | 0.19 AC |
Corner lot spanning approximately 8,000 square feet, approved for a four-story multifamily building with 18 units. All plans are fully completed, and the property is permit-ready.
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Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 51-42-22-33-0250 | Total Assessment | $113,229 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $104,249 CAD |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
51-42-22-33-0250
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$113,229 CAD (2025)
Annual Taxes
$104,249 CAD
Tax Year
2026
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1858 Fletcher St - Multifamily Development | 18 Units Approved
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