The subject property is a well-maintained apartment building located east of US-1 in Hollywood containing 7 (0/1) and 1 (1/1) apartments. It must be noted that the property has a certificate of use for four unit and a violation for work completed without a permit. As such the property must be brought back to its original configuration of a three bedroom/ three bath apt, 1 one bedroom/one bath apt and 2 large studio apartments.
The majority of work necessary to cure the violation is simply to re-open doorways that were previously closed, thus creating separate units. The Seller has engaged an architect and plans are forthcoming. The estimated cost to cure is $30,000. Income and Expense is based on Proforma See OM for case number with the city of Hollywood.