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224 SE 9th Ct 4 Unit Apartment Building $879,000 ($219,750/Unit) Hallandale, FL 33009
Investment Highlights
- Located in the Central RAC zoning district, allowing major redevelopment potential for up to 12 residential units
- Situated on a 9,903 SF lot with a building size of 2,420 SF, originally constructed in 1953
- Positioned within Hallandale Beach’s Southeastern Core Corridor, an area undergoing significant mixed-use development
- Offers strong proximity to major redevelopment trends and population growth within Hallandale Beach, enhancing long-term investment appeal
Executive Summary
The property at 224 SE 9th Ct., Hallandale Beach, FL 33009 is a multifamily 4-plex located on a 9,903 SF lot within the Central RAC zoning district. This zoning designation allows redevelopment potential of up to 12 residential units.
Key Features of the Property:
Current Configuration:
3 studio units
1 one-bedroom, one-bath apartment
Tenant Status:
2 units are on month-to-month leases
Units #1 and #3 have one-year leases that started in October and December 2024
Neighborhood & Development Trends:
The Southeastern Core Corridor of Hallandale Beach is experiencing significant new development, with upscale office, retail, and residential projects transforming the area into a high-end mixed-use hub.
Major Redevelopment Potential: Given its Central RAC zoning, the property has the flexibility to be expanded into a higher-density residential development, which is attractive for investors looking to capitalize on the area's growth.
Key Features of the Property:
Current Configuration:
3 studio units
1 one-bedroom, one-bath apartment
Tenant Status:
2 units are on month-to-month leases
Units #1 and #3 have one-year leases that started in October and December 2024
Neighborhood & Development Trends:
The Southeastern Core Corridor of Hallandale Beach is experiencing significant new development, with upscale office, retail, and residential projects transforming the area into a high-end mixed-use hub.
Major Redevelopment Potential: Given its Central RAC zoning, the property has the flexibility to be expanded into a higher-density residential development, which is attractive for investors looking to capitalize on the area's growth.
Property Facts
| Price | $879,000 | Building Class | C |
| Price Per Unit | $219,750 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,420 SF |
| Sale Condition | Redevelopment Project | No. Stories | 1 |
| No. Units | 4 | Year Built | 1953 |
| Property Type | Multifamily | Parking Ratio | 2.47/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | Central RAC - Base Density 18 Du/Ac Max Density 50 du/Ac | ||
| Price | $879,000 |
| Price Per Unit | $219,750 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,420 SF |
| No. Stories | 1 |
| Year Built | 1953 |
| Parking Ratio | 2.47/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Central RAC - Base Density 18 Du/Ac Max Density 50 du/Ac |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 605 |
| 1+1 | 1 | - | 605 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 51-42-27-14-0920 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $513,100 |
Property Taxes
Parcel Number
51-42-27-14-0920
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$513,100
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224 SE 9th Ct