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725-809 NW 7th Ave 16 Unit Apartment Building $3,040,000 ($190,000/Unit) 6.22% Cap Rate Hallandale Beach, FL 33009
Executive Summary
725–809 Northwest 7th Avenue is a 16-unit apartment complex, consisting of four single-story buildings constructed between 1960 and 1961 of concrete block and stucco with shingle roofs. The unit mix consists of (16) two-bedroom/one-bathroom units. The buildings total 9,256 square feet and are situated on a 0.66-acre lot. All units have been renovated by current ownership and feature either vinyl wood-plank or ceramic tile flooring, with new kitchens and bathrooms, stainless steel appliances, and window/wall air conditioning units.
Property Facts Under Contract
| Price | $3,040,000 | Property Subtype | Apartment |
| Price Per Unit | $190,000 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.22% | Lot Size | 0.16 AC |
| Gross Rent Multiplier | 8.98 | Building Size | 9,256 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Zoning | WEST-RAC | ||
| Price | $3,040,000 |
| Price Per Unit | $190,000 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 8.98 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,256 SF |
| No. Stories | 1 |
| Year Built | 1961 |
| Zoning | WEST-RAC |
Amenities
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | 569 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,027,810 | |
| Land Assessment | $171,580 | Total Assessment | $2,199,390 |
Property Taxes
Parcel Numbers
Land Assessment
$171,580
Improvements Assessment
$2,027,810
Total Assessment
$2,199,390
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725-809 NW 7th Ave
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