Renovated Triplex with Impact
For Sale
Under Contract
$525,000
309 SW 7TH Court, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size1,378 SF
Price / SF$380.99
Days on Market26
Property Features for 309 SW 7TH Court
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RS-6
Bedrooms
4
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Pets allowed
Yes, No
Exterior features
Storage
Fencing
Fenced
Subdivision
RO-LEN ACRES 2ND ADD
Elementary school
Gulfstream Academy Of Hallandale Beach
Middle school
Gulfstream Academy Of Hallandale Beach
High school
Hallandale
Standard status
Active Under Contract
APN
514228370140
Size
1,378 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
RO-LEN ACRES 2ND ADD 51-32 B LOT 94
Tax Annual Amount
8504
Legal Description
RO-LEN ACRES 2ND ADD 51-32 B LOT 94
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
fruit trees
tankless water heaters
Building Details
Year built
1960
Floors in Building
1
Number of units
3
Flooring type
Tile, Terrazzo, Wood
Building materials
Block, CBS, Stucco
Roof type
Shingle
Additional Structures
Outbuilding, Storage
Listing Agency:
Keller Williams Realty Profess
(954) 630-7020
Listed By:
Taylor Haslam · License #3643899
(757) 409-1343
Added: Aug 10
Changed: Aug 27
Last Checked: Sep 4 at 8:06PM
MLS# B26062635
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,378-square-foot triplex, built in 1960, includes three separate living units: a two-bedroom, one-bath main house, a studio with one bath, and a detached efficiency with one bath. The property has been renovated and features tile, terrazzo, and wood flooring, central heating, multiple cooling options, tankless water heaters, and impact windows and doors. A shingle roof, fenced grounds, backyard fruit trees, and exterior storage add to the physical improvements.
The property is located in Hallandale Beach, near the beach, Aventura Mall, major highways, and the airport. Public water and public sewer serve the property, which is zoned RS-6. Two units are currently rented, while the detached efficiency is vacant and was previously rented.
The property is located in Hallandale Beach, near the beach, Aventura Mall, major highways, and the airport. Public water and public sewer serve the property, which is zoned RS-6. Two units are currently rented, while the detached efficiency is vacant and was previously rented.
Key Highlights
- 1,378 square feet with three separate residential units
- Two‑bedroom, one‑bath main house, studio with one bath, and detached efficiency with one bath
- Fully renovated with all impact windows and doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,971
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$459,420
$459.4K
Cap Rate 7%
$328,157
$328.2K
Cap Rate 9%
$255,233
$255.2K
Market Conditions
NOI Build-Up for 1,378 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.7K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.8K $23.81/SF
− OpEx
−$9.8K −$7.14/SF
NOI
$23.0K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$459,420
Cap Rate 7%
$328,157
Cap Rate 9%
$255,233
Alternative Uses
Best Use
Multifamily LT 5
$328.2K
$287.1K – $382.9K
NOI $22,971 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$302.8K
$264.9K – $353.2K
NOI $21,193 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$699.1K
$611.7K – $815.6K
NOI $48,938 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 33009, FL
43,301
Population
31,020
Households
1.4
Avg Household Size
47
Median Age
36%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
8,837
Density / Sq Mi
$48,196
Median Household Income
$33,928
Median Earnings
$1,576
Median Rent
$248,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with public utilities, fenced grounds, storage, and a varied mix of cooling systems.
Where is this triplex located?
The property is located at 309 SW 7TH Court Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,378 square feet with three separate residential units; Two‑bedroom, one‑bath main house, studio with one bath, and detached efficiency with one bath; Fully renovated with all impact windows and doors
