135 5 StHallandale Beach, FL 33009

Property Details for 135 5 St

Year built

1965

Property size (Sq ft)

1,829 SF

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This exceptional Hallandale Beach triplex presents a compelling investment opportunity. Boasting three one-bedroom, one-bathroom units, each features private parking and separate electric meters, minimizing operational complexities and maximizing efficiency. The property, built in 1965, encompasses 1,829 square feet on a 4,496 square foot lot and benefits from impact windows, reducing insurance costs and enhancing security. The roof was recently replaced approximately five years ago. Currently fully leased, the property generates a net operating income (NOI) of $43,240, representing a 5.96% capitalization rate. With potential for increased rental income reaching over $61,000 annually at market rates, this property offers significant upside potential. Its strategic location across from a new YMCA and minutes from Gulfstream Park ensures high occupancy and strong tenant demand. The property is zoned Central RAC, providing flexibility for future development or renovations. Seller financing options are available, making this an even more attractive proposition for discerning investors. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving South Florida market.

Location Insight

City

Hallandale Beach

County

Broward

State

Florida

Latitude

25.9802

Longitude

-80.1463

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