417 3 AveHallandale Beach, FL 33009

Property Details for 417 3 Ave

Lot size

0.40 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 10-unit apartment building in Hallandale Beach, Florida, presents a compelling investment opportunity. Priced at $3,350,000, this stabilized property boasts a 6.60% cap rate and 100% occupancy. The property features a mix of four 2-bedroom/1-bathroom and six 1-bedroom/1-bathroom units, all equipped with central air conditioning. Several units include private balconies. Residents enjoy a large yard, barbecue area, and ample parking. Situated on approximately 0.4 to 0.5 acres, the property is zoned Transit RAC-50 u Per Acre, allowing for mixed-use development. Architectural plans exist to add two more units facing a nearby park. Its prime location offers easy access to Hallandale and Hollywood beaches, the Gulfstream Casino & Racing, Aventura Mall, and Aventura. Conveniently located near public transportation, including the Tri-County Commuter rail line, and within a short drive of Fort Lauderdale-Hollywood International Airport and Miami International Airport. The property's strong rental market, excellent unit mix, and high occupancy rate make it an attractive investment with significant potential for appreciation. The building underwent renovations in 2022, ensuring its continued appeal to tenants. This turnkey property offers a solid income stream and a desirable location in a thriving area. The property's proximity to the new YMCA City Family Park further enhances its value and appeal.

Location Insight

City

Hallandale Beach

County

Broward

State

Florida

Latitude

25.9802

Longitude

-80.1447

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