27 5 St Hallandale Beach, FL 33009

Property Details for 27 5 St

Property type

Residential income homes

Description

This exceptional Hallandale Beach property presents a unique investment opportunity encompassing approximately 19,600 square feet of land zoned for transit core use, allowing for the construction of up to five stories of mixed-use development. Currently improved with two income-producing residential homes, the property generates an approximate monthly rental income of $7,500 when fully occupied. The strategic corner lot location boasts convenient access from three sides, including a rear alley, enhancing visibility and accessibility. Situated just a few blocks from a 26-acre park and five blocks from the renowned Gulfstream Racetrack, this property benefits from a desirable and convenient location within a quiet, safe neighborhood. The zoning permits a wide range of commercial uses, including but not limited to schools and dog daycares. The property offers significant development potential, with the ability to construct eight large residential units as of right, or potentially more with smaller units or inclusion of workforce housing. Located 9 feet above sea level, the property is notably elevated and outside of a flood zone. Further enhancing its appeal, this property is situated within both an Opportunity Zone and a Community Redevelopment Area (CRA). The seller may consider financing options with a substantial down payment. This is a rare chance to acquire a versatile and high-potential property in a thriving South Florida location.