Remodeled
For Sale
$990,000
306 NE 6th Street, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size2,325 SF
Price / SF$425.81
Days on Market95
Property Features for 306 NE 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
CENTRAL RAC
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1
Subdivision
HOLLYWOOD PINES ESTATES
Elementary school
Gulfstream Academy Of Hallandale Beach
Middle school
Gulfstream Academy Of Hallandale Beach
High school
Hallandale
Directions
I -95 SOUTH EXIT 19 ALL THE WAY TO NE 6TH
Standard status
Active
APN
514222350160
Size
2,325 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HOLLYWOOD PINES ESTATES 6-41 B C O BK 44/297 PT OF LOT 9 F/P/A LOT 12 BLK 9 & ELY 5 OF VAC ALLEY ADJ TO W/BNDRY LOT 12
Tax Annual Amount
17341
Legal Description
HOLLYWOOD PINES ESTATES 6-41 B C O BK 44/297 PT OF LOT 9 F/P/A LOT 12 BLK 9 & ELY 5 OF VAC ALLEY ADJ TO W/BNDRY LOT 12
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Ductless, Heat Pump, Electric
Water source
Public
Building Details
Year built
1953
Floors in Building
4
Number of units
4
Flooring type
Tile, Marble, Vinyl
Building materials
CBS, Stucco
Roof type
Composition
Listing Agency:
KW Reserve Palm Beach · Keller Williams Realty
(561) 966-4000
Listed By:
Zuleika Feliciano · License #3641052
(757) 634-8907
Added: Jun 8
Changed: Sep 9
Last Checked: Sep 10 at 4:06PM
MLS# B26038327
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 2,325-square-foot quadplex contains four residential units: two one-bedroom apartments, one two-bedroom apartment, and one studio. The interiors have been remodeled with contemporary finishes and new appliances. Impact-resistant windows are installed throughout, and the property includes marble, vinyl, and tile flooring. Construction is CBS and stucco, with electric cooling, heat pump, and ductless systems.
Built in 1953, the property is located at 306 NE 6th Street in Hallandale Beach, near the beach and within a city described as having high visitor traffic. The site is zoned CENTRAL RAC and is served by public water and public sewer. The unit configuration supports either short-term rental use, including Airbnb, or conventional long-term rentals.
Built in 1953, the property is located at 306 NE 6th Street in Hallandale Beach, near the beach and within a city described as having high visitor traffic. The site is zoned CENTRAL RAC and is served by public water and public sewer. The unit configuration supports either short-term rental use, including Airbnb, or conventional long-term rentals.
Key Highlights
- Fourplex with 2,325 square feet of property size
- Unit mix includes two one‑bedroom apartments, one two‑bedroom apartment, and one studio
- All units remodeled with new appliances
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
$38,757
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
3.91%
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%
$775,140
$775.1K
Cap Rate 7%
$553,671
$553.7K
Cap Rate 9%
$430,633
$430.6K
Market Conditions
NOI Build-Up for 2,325 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
$58.6K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.4K $23.81/SF
− OpEx
−$16.6K −$7.14/SF
NOI
$38.8K $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%
$775,140
Cap Rate 7%
$553,671
Cap Rate 9%
$430,633
Alternative Uses
Best Use
Multifamily LT 5
$553.7K
$484.5K – $646.0K
NOI $38,757 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$510.8K
$447.0K – $596.0K
NOI $35,757 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,570 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,986
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated residential units offer flexible short-term or long-term rental use near the beach.
Where is this quadplex located?
The property is located at 306 NE 6th Street Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Fourplex with 2,325 square feet of property size; Unit mix includes two one‑bedroom apartments, one two‑bedroom apartment, and one studio; All units remodeled with new appliances
