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28165442
28165469

724 NE 4th St, Hallandale Beach, FL 33009

JA
FL 3129097
Meridian Commercial
Listed by Meridian Commercial
$2,800,000
209 days on market
Updated 16 days ago

Atlantic Shores Apartments

Details
APN 5142-22-13-0090
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,140
Net Rentable (SqFt) 8,140
Units 12
Cap Rate 5.40%
NOI $150,495
Occupancy 100%
Price per SqFt $344
Class C
Year Built 1978
Buildings 1
Stories 2
Lot Size (SqFt) 12,990
Zoning Central RAC
Parking Spaces 16 spaces
Parking Per SqFt 1.97
Investment Type Value Add

12 unit Multifamily Property for Sale in Hallandale Beach, FLorida!

Marketing description

Meridian Commercial is proud to present Atlantic Shores Apartments. A 12 unit apartment complex east of US1 in the city of Hallandale Beach. The opportunity offers an attractive unit mix of 8-1 bed 1 bath units and 4-2 bed 1 bath units. All apartments are above average in size and updated with large kitchens, tile flooring, and central air conditioning. The building has plenty of parking, a common laundry room, surveillance cameras and adequate exterior lighting. The property sits at a corner location in a charming residential neighborhood within minutes to beautiful parks, restaurants, supermarkets, entertainment, and less than a mile to the ocean and world class beaches.

The City of Hallandale Beach is a vibrant coastal city in southern Broward County, Florida, nestled between Miami and Fort Lauderdale. Its proximity to major airports (Fort Lauderdale/Hollywood and Miami International) and seaports make it an accessible location. As of the 2023 census, the population was approximately 41,547 and still growing. Known for its oceanfront properties, pristine beaches and attractions like Gulfstream Park and the Big Easy Casino. The city has been undergoing significant growth, with over $1billion in residential, commercial, and infrastructure projects in the pipeline. These revitalization efforts, spearheaded by the city and the Community Redevelopment Agency (CRA), aim to attract new residents and businesses, enhance quality of life, and improve resiliency.

Investment highlights

  • 2 story, 12 unit apartment complex, corner lot

  • Great unit mix of 8-1 bed 1 bath units and 4-2 bed 1 bath units

  • Property is located east of US1 and north of Hallandale Beach Blvd

  • 40 year recertification completed!

Listing Contacts

JA
FL 3129097
Meridian Commercial
Listed by Meridian Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,495.00
$12,541.25/mo

Valuation Metrics

0
DSCR
5.37%
Cap Rate
5.37%
ROI

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Additional Information

Name
Julie Abolafia
License
3129097
Brokerage
Meridian Commercial Real Estate Investment Sales
Title
Managing Director
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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