Clădire de vânzare, 1739 Washington St, Hollywood, FL 33020, SUA, în Hollywood, Statele Unite ale Americii

Hollywood
Bloc cu apartamente închiriate • 13 pat. • 12 baie. • 518 m²
7.121.630 RON
  • Value Add Opportunity | 4.2 Google Rating
  • Possible Re-Use to Annual Tenancy
  • Short Term Transient Licensing in Place
  • Aggressive $129,166 Per Unit Pricing
  • Located in the Regional Activity Center | Central Business District
  • FH-2 | Federal Highway Medium - High Intensity Mixed Use District
  • Major Redevelopment Corridor East of US1 | Recently Rezoned
  • 10 Story (140 Feet) Redevelopment Possible
  • FAR 3.00 Baseline up to 4.75 for Mixed Use Project
  • Renovations Completed | Furnished Interior Units
  • Close Proximity to Beach and Downtown Hollywood, Young Circle

PROPERTY DESCRIPTION

The Light Haven onWashington is highly desired Mid Century Architecture east of US1,that has been repositioned through renovations and creation of a short term rental business model.TheLight Haven does have transient licensing in place for short term rentals including nightly stays. Primarily focused however on minimum stays of week and longer stays, the Light Haven has additional value to extract through raising the advertising profile in the market. There is additional room to grow their 4.2 Google Ranking and other intrinsic value proposition.There is significant value creation available through a change of use strategy of annual tenancy repositioning. The annual rental market for properties east of US1 is very strong with one of the highest overall rental floors in the area. Whereas there is an abundance of housing west of US1, east of US1 is a residential neighborhood lacking zoning for redevelopment thereby making existing inventory such as Light Haven very limited.

Light Haven was included in the hyper aggressive rezoning that allows tower design of 10 Stories or 140 Feet in Height through FH-2 zoning. FH-2 is the Federal Highway Medium-High Intensity Mixed-Use District. Across the street, Hudson Village is set to be 8 stories and constructed by a nationally renowned developer in Housing Trust Group. Light Haven represents 15,797 of needed land for any potential redevelopment project. The Light Haven on Washington opportunity is centrally located just minutes, sometimes walking distance to major economic drivers and City Amenities. The US1 and Hollywood Blvd corridors will provide major redevelopments for decades to come as Hollywood rebuilds their global image. Already considered one of the best cities to live in here in South Florida, Hollywood and assets like this will rapidly appreciate for years to come.

 

LOCATION DESCRIPTION

The Light Haven of Hollywood property is perfectly located in the US1 corridor in the desirable Central Business District. The Central Business District is East of US1 that encompasses the eastern core of Hollywood Circle and multiple redevelopment projects that are recreating the skyline of Hollywood, FL.

Light Haven of Hollywood has been recently rezoned FH-2, Federal Highway Medium-High Intensity Mixed-Use District. This new zoning allows for 10 story height (140 Feet) and a maximum FAR of 3.0 as base up to 4.75 as part of a mixed use project. Areas north of Monroe just blocks north of Light Have allow as high as 18 stories which helps understand the overall aggressive redevelopment plan, and zoning that has been put forth by the City of Hollywood efforts to redefine the core.

Affectionately considered the North version of South Beach, Hollywood Beach feature the world famous Boardwalk. Highly walkable, the Boardwalk attracts both international tourists and local staycationers alike. Widely considered a tropical paradise and second to none in quality of life for this beachside enclave. Multiple streetscape projects designed to promote pedestrian paths and create increased walkability and bike lanes are redesigning all major thoroughfares in the city and beachside. 

The City of Hollywood has many amenities availabe to it's local population of 158,239 as of 2020; making it the 12th largest city in Florida. The World Famous Hollywood Hard Rock Hotel and Casino recently completed a $1.5 Billion dollar Expansion including their trademark Guitar Hotel. In addition, Margaritaville beachside development has firmly entrenched the City of Hollywood as a Tier 1 leisure destination. 

 

Local economic drivers include proximity to many corporate headquarters that utilitze the 5 million square feet of office space with occupancy rates above 93%. There is a workforce of 1 Million in Broward County and 83,000 in Hollywood that find careers in the aviation, Healthcare, Life Science, Marine Industry, Professional Services, and Information & Communications fields. Port Everglades is Florida's #1 Seaport by revenue and generates $34 Billion in Annual Economic Activity and is just minutes up the road to the north of Light Haven. 

Spații

Dormitoare13
Băi12

Suprafețe

Cameră de zi518 m²
Lot de teren1467 m²

Hollywood

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TipClădire
Anul construirii2019