705-713 NE 3rd St 1-9, Hallandale Beach, FL 33009
sale
$2,150,000
|
Single Family Attached
Courtesy Of Keyes Company Realtors
Amazing Opportunity 9 Apartment Units on an Oversized 13,430 SF Lot (0.31 Acres)
This is a rare value-add opportunity featuring 9 apartment units situated on an oversized 13,430 SF lot (0.31 acres). The property offers several recent improvements, including impact windows installed by the previous owner and a new roof completed in 2018. Interior finishes include a mix of vinyl flooring and tile flooring throughout the units. In terms of cooling, 2 units have split A/C systems and 7 units have window A/C units.
9 Assigned Parking Spaces
Current rents are below market, creating significant upside potential for a new owner.
The location is exceptional, and the redevelopment potential is tremendous. According to zoning, the property may allow for the development of a new 5-story multifamily building with up to 15.42 units and approximately 8,774 SF of building area.
Investment Highlights:
Strong value-add play through rent increases
Opportunity to modernize units and significantly boost NOI
Large lot offering future redevelopment optionality
Located in a prime rental corridor with strong demand fundamentals
This creates a rare covered land play generate income today while planning a future redevelopment exit.
You re not buying into a location you re buying into an established urban core.
Buyer must independently verify all zoning, density, and development potential with the appropriate zoning department and conduct their own due diligence.
This is a rare value-add opportunity featuring 9 apartment units situated on an oversized 13,430 SF lot (0.31 acres). The property offers several recent improvements, including impact windows installed by the previous owner and a new roof completed in 2018. Interior finishes include a mix of vinyl flooring and tile flooring throughout the units. In terms of cooling, 2 units have split A/C systems and 7 units have window A/C units.
9 Assigned Parking Spaces
Current rents are below market, creating significant upside potential for a new owner.
The location is exceptional, and the redevelopment potential is tremendous. According to zoning, the property may allow for the development of a new 5-story multifamily building with up to 15.42 units and approximately 8,774 SF of building area.
Investment Highlights:
Strong value-add play through rent increases
Opportunity to modernize units and significantly boost NOI
Large lot offering future redevelopment optionality
Located in a prime rental corridor with strong demand fundamentals
This creates a rare covered land play generate income today while planning a future redevelopment exit.
You re not buying into a location you re buying into an established urban core.
Buyer must independently verify all zoning, density, and development potential with the appropriate zoning department and conduct their own due diligence.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 9
- Legal Description: ATLANTIC SHORES DIXIE HIGHWAY SECTION 9-34 B LOT 25 TO 27 BLK 1
- MLSID: A12003925
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