8-Unit Multi-Family For Sale at 1941 Washington St

1941 Washington Street is an 8-unit multifamily property located in the heart of Hollywood, consisting of one 2-bedroom/1-bath unit and seven studios. The property features beautiful updated interiors, impact windows, mini-split A/C systems, a newer roof, and 10 parking spaces. Currently operated as a luxury short-term rental property, the asset generates approximately $160,000 in annual gross income. A new owner can continue the existing short-term rental operation or convert the property back to annual rentals for easier management, with approximately the same gross income and lower operating expenses. Based on projected annual rents and expenses, the property is expected to achieve approximately an 8% cap rate if converted to annual rentals. Conveniently located near Downtown Hollywood, the beach, Fort Lauderdale-Hollywood International Airport, and I-95, the property offers a strong combination of current income, flexibility, and long-term rental upside in a desirable South Florida market.