Hallandale Beach Duplex
For Sale
Contact for pricing
623 NE 5th ST, Hallandale Beach, FL 33009
Duplex in Hallandale Beach with long-term tenants.
Property Size2,062 SF
Price / SF$348.69
Days on Market707
Property Features for 623 NE 5th ST
General Information
Standard status
Active
Size
2,062 SF
Total Parking Spaces
4
Property subtype
Multifamily
Building Details
Year Built
1965
Stories
1
Units
2
Listing Agency:
Grand State Realty
Listed By:
Yuliya Prysedska · License #3374283
Source:
Crexi
Added: Oct 30, 2024
Changed: Sep 12
Last Checked: Oct 5 at 5:18PM
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 Grand State Realty
Investment Insights
Based on property information with market context.
Located east of US 1 in Hallandale Beach, this duplex property offers immediate income potential. The property features two 2-bedroom, 2-bathroom units, both currently rented annually to long-term tenants. Unit 1 generates $2200 per month, while Unit 2 generates $2000 per month. Each unit includes a private backyard. The property is equipped with hurricane impact windows and a new fence. The roof is in good condition. The property size is 2062 square feet. The surrounding area is well-developed, with a variety of shops and restaurants. Seller financing is available with up to 70% LTV at a competitive interest-only rate.
Key Highlights
- Prime Location: East of US 1 in Hallandale Beach, close to shops and restaurants.
- Income‑Generating Property: Currently rented with long‑term tenants, providing immediate cash flow.
- Legal Duplex: Features two separate 2/2 units, each with its own private backyard.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,373
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$687,460
$687.5K
Cap Rate 7%
$491,043
$491.0K
Cap Rate 9%
$381,922
$381.9K
Market Conditions
NOI Build-Up for 2,062 SF
Gross rent
$52.0K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.1K $23.81/SF
− OpEx
−$14.7K −$7.14/SF
NOI
$34.4K $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%
$687,460
Cap Rate 7%
$491,043
Cap Rate 9%
$381,922
Alternative Uses
Best Use
Multifamily LT 5
$491.0K
$429.7K – $572.9K
NOI $34,373 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$453.0K
$396.4K – $528.5K
NOI $31,712 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$1.05M
$915.4K – $1.22M
NOI $73,230 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,533
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in Hallandale Beach with long-term tenants.
Where is this duplex located?
The property is located at 623 NE 5th ST Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Prime Location: East of US 1 in Hallandale Beach, close to shops and restaurants.; Income‑Generating Property: Currently rented with long‑term tenants, providing immediate cash flow.; Legal Duplex: Features two separate 2/2 units, each with its own private backyard.
