4 Large Houses on 1 Acre Lot | 701 & 721 SW 6th st
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4 Large Houses on 1 Acre Lot 701 & 721 SW 6th st
4 Unit Apartment Building $1,700,000 ($425,000/Unit) 5.67% Cap Rate Hallandale Beach, FL 33009
Investment Highlights
- 4 Separate Houses including one 4 bed/2 bath, one 3 bed/ 2 bath and two 2 bed/1 bath houses
- Potential revenue of $144k in Gross Rental Income when raising to market rents
- Plenty of Parking (more than 11 spaces)
- Huge 1 Acre Lot allowing for redevelopment of up to 14 brand new townhouses
- Minutes away from Gulfstream Park, Aventura Mall, New Hallandale Shopping Centers & Beaches
Executive Summary
Not your typical Fourplex! This unique property features 4 large houses situated on a huge 1-acre development site. Consisting of two folios, the addresses are 701, 711, 721, and 721a SW 6th St. Beyond being an amazing income-producing asset, this prime lot offers the potential to build 14 new townhouses. The property includes one 4 bed/2 bath house, two 3 bed/2 bath houses, and one 2 bed/1 bath house. Currently fully occupied, it generates a gross annual income of just over $115k, with upside to increase to $144k annually when rents are raised to market rates. Each house has plenty of parking and a large yard. Minutes away from Gulfstream Park, Aventura mall, Shopping Centers, and pristine beaches, this property offers both current income and future development opportunities.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,700,000 | Building Class | C |
| Price Per Unit | $425,000 | Lot Size | 1.03 AC |
| Sale Type | Investment | Building Size | 3,955 SF |
| Cap Rate | 5.67% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,700,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 5.67% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 3,955 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1961 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,500 | - |
| 3+2 | 1 | $3,300 | - |
| 4+2 | 1 | $2,500 | - |
zoning
| Zoning Code | RD-12 (Zoning allows to build up to 14 townhouses on this 1 acre lot.) |
| RD-12 (Zoning allows to build up to 14 townhouses on this 1 acre lot.) |
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4 Large Houses on 1 Acre Lot | 701 & 721 SW 6th st
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