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    700 6 St Hallandale Beach, FL 33009

    For Sale
    $2,260,000

    14-unit, high-cash-flow property in prime location.

    Property size:
    3,690 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 14-unit multifamily property, situated on a sizable 8,742 square foot lot in desirable Hallandale Beach, Florida, presents a compelling investment opportunity. Built in 1958 with renovations completed 3 years ago, this single-story, Class B building boasts 3,690 square feet of net rentable space, currently achieving a 95% occupancy rate. The property features 8 parking spaces, a significant advantage in this location. The current monthly net operating income (NOI) is $18,000, yielding a 6.5% cap rate. However, a pro-forma NOI of $254,000 projects an impressive 8% cap rate, reflecting the potential for increased profitability through market rent adjustments. Each of the 14 units is currently rented month-to-month, providing flexibility for future management. The property's strategic location near US-1, Hallandale Beach Boulevard, Gulfstream Park & Casino, and beaches ensures high demand and strong rental income. Priced at $2,260,000, this represents a price per unit of $184,538 and a price per square foot of $612.47. The property is zoned for multi-family use and offers significant potential for value appreciation in this rapidly growing market. This is a cash-flowing asset with strong potential for future growth. The property's current management practices ensure smooth operations and high tenant satisfaction. This is an excellent opportunity for an owner/user or investor seeking a stable, high-return investment in a prime South Florida location.

    Property Features for 700 6 St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,690 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1958/3
    Buildings
    1
    Stories
    1
    Units
    14

    HighLights

    • Prime Hallandale Beach location near US‑1, Gulfstream Park & Casino, and beaches.
    • $18,000 monthly rental income provides strong cash flow.
    • 14 spacious units, each designed for tenant satisfaction.
    • 8 parking spaces, a significant advantage in this location.
    • Recently renovated (3 years ago) with minimal deferred maintenance.
    • High potential for value appreciation in a rapidly growing market; opportunity to increase income through rent adjustments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hallandale Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.1414566
    Latitude
    25.9920681

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    FAQs

    What type of property is this?
    Multifamily property - 14-unit, high-cash-flow property in prime location.
    Where is this multifamily property located?
    The property is located at 700 6 St Hallandale Beach, FL.
    What is the asking price?
    The asking price for this property is $2,260,000.
    What are key features of this property?
    This property features: Prime Hallandale Beach location near US-1, Gulfstream Park & Casino, and beaches.; $18,000 monthly rental income provides strong cash flow.; 14 spacious units, each designed for tenant satisfaction.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    700 6 St Hallandale Beach, FL 33009
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