Commercial Sale · Multi Family
1948 Buchanan Street, Hollywood FL 33020, HOLLYWOOD, FL, 33020
Active78 days on marketListed May 31, 2026MLS #B26034874
About this property
The property at a glance
The Buchanan St / N 20th Ave assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948, 1952 Buchanan Street, & 615 N 20th Ave, totaling 9 units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors. As currently improved, the asset generates immediate cash flow with an estimated 5% cap rate. Further enhancing the investment opportunity, the seller is willing to provide purchase money financing with as little as 40% down and a below-market interest rate. Beyond the existing income stream, the property's greatest value may lie in its redevelopment potential of 29-32 Unit subject to zoning and site approval. Executive Summary The Buchanan Street / North 20th Avenue assemblage is a compelling East Hollywood Mid-Core investment combining immediate income, favorable seller financing, and long-term redevelopment potential. Located at 1948 and 1952 Buchanan Street and 615 North 20th Avenue, the portfolio includes nine residential units with rear gated parking. The property currently generates stable cash flow at an estimated 5% capitalization rate, allowing an investor to earn income while evaluating future development plans. The seller is willing to provide purchase money financing with approximately 40% down and a below-market interest rate, reducing the purchaser's initial equity requirement and potentially improving cash-on-cash returns. Based on preliminary planning assumptions, the assemblage may support approximately 29 to 32 residential units, subject to zoning, parking, site-plan, utility-capacity, and municipal approvals. This creates a covered-land strategy in which existing rental income helps offset carrying costs during the entitlement and development process. The opportunity is driven by three primary components: Immediate cash flow from nine existing units Attractive seller financing with reduced equity exposure Redevelopment optionality within a growing East Hollywood corridor Overall, the assemblage offers investors the ability to generate current income while controlling a strategically located site with meaningful future development potential.
5,613
Building sq ft
$325
Price / sq ft
0.35
Lot acres
1964
Year built
9
Units
3
Buildings
DH-2
Zoning
Multi Family
Property type
The numbers
Investment snapshot
5%
Cap rate
$91,416
Net operating income
$173,100
Gross income (yr)
$202,778
Price / unit
9
Units
Estimated payment (illustrative)
Estimated payment
$11,281/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask David to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
3,492
Population
$22,759
Median income
39
Median age
2
Avg household
$168,195
Median home value
$1,100/mo
Median rent
408
Households w/ kids
Consumer profile
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Movie buffs and binge watchers expressing their love for movies, storytelling, and the film making process.
When it comes to entertainment, this population is looking for the ultimate experience. Whether it's a charity fundraiser or a concert, elements such as lights, sounds, and merchandise are critical for a good time.
Who says the body isn't a canvas? This population loves talking about tattoos, body art and piercings.
Recent sales
What actually sold near 1948 Buchanan Street
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$1,365,000
615 NE 7th Street, Hallandale Beach FL 33009
Sold Dec 11, 2025
$3,000,000
705-713 NE 3rd Street, Hallandale Beach FL 33009
Sold Dec 19, 2024
$1,500,000
338 Taylor Street, Hollywood FL 33019
Sold Dec 4, 2025
Your team
The pros in your corner
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, offers, and every question about 1948 Buchanan Street — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 1948 Buchanan Street.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Keep looking
Similar properties nearby
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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