Waterfront
1031 SW 3RD Street, Hallandale Beach, FL 33009
For Sale
$695,000
Two separate residences offer distinct bedroom layouts, including a bonus room in the one-bedroom unit.
Property Size1,718 SF
Price / SF$438.76
Days on Market15
Property Features for 1031 SW 3RD Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
laundry room
gated backyard
Building Details
Building Size
Year Built
Stories
Listing Agency:
Approved Realty Solutions, Inc
Listed By:
Vanitia Harrigan
(954) 991-0915
Source:
Laerrealty
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 6 at 1:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Approved Realty Solutions, Inc
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Investment Insights
Based on property information with market context.
This waterfront duplex contains 1,584 square feet across two separate units. One residence has two bedrooms and one bathroom; the other includes one bedroom, one bathroom, and a bonus room. Kitchens and bathrooms have been upgraded, and stainless steel appliances are included. The property also has a laundry room, a gated backyard, and six parking spaces. A new roof was installed in 2021, and Unit 2 has a new AC system.
Built in 1960, the property is zoned RD-12 and is located in Hallandale Beach. The stated nearby destinations include beaches, shopping, dining, Fort Lauderdale, Aventura, and Miami; a major highway and Fort Lauderdale airport are also nearby.
Built in 1960, the property is zoned RD-12 and is located in Hallandale Beach. The stated nearby destinations include beaches, shopping, dining, Fort Lauderdale, Aventura, and Miami; a major highway and Fort Lauderdale airport are also nearby.
Key Highlights
- Two‑unit duplex with 1,584 square feet
- Unit 1 has 2 bedrooms and 1 bathroom; Unit 2 has 1 bedroom, 1 bathroom, and a bonus room
- New roof installed in 2021; Unit 2 has new AC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,405
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,100
$528.1K
Cap Rate 7%
$377,214
$377.2K
Cap Rate 9%
$293,389
$293.4K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$39.9K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.7K $23.81/SF
− OpEx
−$11.3K −$7.14/SF
NOI
$26.4K $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 Rate 5%
$528,100
Cap Rate 7%
$377,214
Cap Rate 9%
$293,389
Alternative Uses
Best Use
Multifamily LT 5
$377.2K
$330.1K – $440.1K
NOI $26,405 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,361 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$803.6K
$703.2K – $937.6K
NOI $56,254 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,533
Businesses Nearby
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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
$248,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Hallandale Beach, FL
Properties on Market for Duplexes in Hallandale Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct bedroom layouts, including a bonus room in the one-bedroom unit.
Where is this duplex located?
The property is located at 1031 SW 3RD Street Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,584 square feet; Unit 1 has 2 bedrooms and 1 bathroom; Unit 2 has 1 bedroom, 1 bathroom, and a bonus room; New roof installed in 2021; Unit 2 has new AC
