615-713 NE 3rd St
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615-713 NE 3rd St
17 Unit Apartment Building $3,400,000 ($200,000/Unit) 6% Cap Rate Hallandale Beach, FL 33009
Investment Highlights
- New impact windows, new roof, new kitchen, new bathrooms in most units, passed 50 year certification in 2022
- Fully leased
Executive Summary
NEWLY PRICE ED TOTAL OF 17 UNITS IN 5 BUILDINGS AND 3 FOLIOS. ALL BUILDINGS HAVE BRAND NEW IMPACT WINDOWS, ALL 5 ROOFS ARE NEW FROM 2018 TILL 2 MONTHS AGO. ALL UNITS HAVE BRAND NEW KITCHENS AND NEWER BATHROOMS. SOME UNITS HAVE WOOD VINYL AND OTHERS HAVE TILE. BRAND NEW LANDSCAPE AND A GAZIBO. ALL APPLIANCES HAVE BEEN REPLACED WHEN THE RENOVATION WAS DONE ALL WITHIN THE LAST 2 YEARS. ONE BULIDING HAS SPLIT AC'S AND THE REST HAVE WINDOW AC'S. BUILDING IS IN GREAT CONDITION, ALL RENTED, SOME WITH LEASES, AND OTHERS WITH MO/MO, GREAT RETURN. EAST OF US1 ABOUT 1.5 MILES AWAY FROM THE BEACH, CLOSE TO PUBLIC TRANSPORTATION, SHOPPING, AND GOLF STREAM.
Property Facts
| Price | $3,400,000 | Building Class | C |
| Price Per Unit | $200,000 | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 7,205 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 17 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 2.61/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,400,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 7,205 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 2.61/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,350 | - |
| 2+1 | 1 | $1,900 | - |
| 1+1 | 13 | $1,550 | - |
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Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $696,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$696,000
zoning
| Zoning Code | CENTRAL RA (RESIDENTIAL) |
| CENTRAL RA (RESIDENTIAL) |
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615-713 NE 3rd St
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