1512 Harrison St, Hollywood, FL 33020

Colliers International Florida is pleased to present the opportunity to acquire The Cropper, a nine-unit multifamily apartment building located at 1512 Harrison Street in Hollywood Lakes. 

The Cropper is located 2 blocks away from Downtown Hollywood, an eclectic city known for its array of restaurants from tastes around the world, live music, and entertainment. The property consists of nine fully-leased apartments with a unit mix of three studios, four one-bedroom one bathroom units and two two-bedroom one-bathroom units. 

The property is made up of two buildings. The main building houses seven units while the back building includes two units on the second floor. The first floor has 1,000 SF available for storage as additional income. The Cropper was constructed in 1929 with renovations from 2010, including all bathrooms and kitchens while the property itself has had structural and electrical renovations.

The Cropper offers a unique investment opportunity. Potential buyers can continue operating the property as a multifamily, it can be completely converted into short-term rentals, or it can be used as a hybrid of multifamily and short-term rentals.
Short-term rentals have become popular alternatives to traditional hotels. The immediate market surrounding The Cropper attracts many visitors generating the need for short-term rentals.
With its strategic location close to many points of interest in Hollywood, 1512 Harrison Street would have high ADRs and high occupancy.
According to AirDNA and Airbnb data and analytics, a one-bedroom/one-bathroom unit in Hollywood has an average daily rate of $168, ranging from $149 during off season and $193 during season.