5 unit Multifamily Hallandale Beach

$650,000

705 Northeast 6th Street, Hallandale Beach, FL 33009

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 03/17/2022

Details:

Cap Rate: 6.5%

NOI: $40,675

Pro Forma Cap Rate : 10%

Building Size: 2,306 sqft

Units: 5

Year Built: 1950

Offered by Broker

Sarah Walter

Real Estate Investment Advisor

Harmony Realty Investments

#3272534

Request Info to Unlock

Description:

5 UNIT VALUE ADD OPPORTUNITY
Bldg: 2306sf Built: 1950 NOI: $40,675K Cap Rate: 6.5% Proforma: 10%+
• 5 Unit Multifamily building just 2 miles to Beach. East of US1 & Just North of Hallandale Beach Blvd. Near Gulfstream Park.
• Partially renovated property with Newer Roof.
• Fully Occupied. Some units are rented under current market rents, opportunity to increase income up to $5,300 p/mo or $63,600 annually bringing this Investment to a 10% Proforma Cap Rate
• Property is zoned for up to 9 Units. Opportunity to build additional 3-4 Units on the large lot to Increase Cash Flow.
• Units separately metered
Rental Income: $55,800 - Expenses: $15,125
2bed - $950 (below market), Studio 1 - $900, Studio 2 - $900, Studio 3 - $850, Studio 4 - $1050

Call or Text Sarah for More Information: (954) 865-6231