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823-825 NW 9th St 1648 Unit Apartment Building $435,000 ($264/Unit) 7.13% Cap Rate Hallandale Beach, FL 33009
Investment Highlights
- Strong Yield Profile: 9%+ cap rate with upside as rents trend toward $3,600+/month
- Value-Add Potential: Ability to increase rents to market and further enhance returns**
- Recent Capital Improvements: New roof, updated electrical, tankless water heater, A/C (2021), paver driveway
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$39,000
|
$37.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$39,000
|
$37.94
|
| Taxes |
$6,000
|
$5.84
|
| Operating Expenses |
$2,000
|
$1.95
|
| Total Expenses |
$8,000
|
$7.78
|
| Net Operating Income |
$31,000
|
$30.16
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $39,000 |
| Annual Per SF | $37.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $39,000 |
| Annual Per SF | $37.94 |
| Taxes | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $5.84 |
| Operating Expenses | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $1.95 |
| Total Expenses | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $7.78 |
| Net Operating Income | |
|---|---|
| Annual | $31,000 |
| Annual Per SF | $30.16 |
Property Facts
| Price | $435,000 | Building Class | C |
| Price Per Unit | $264 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 1,028 SF |
| Cap Rate | 7.13% | Average Occupancy | 100% |
| No. Units | 1648 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2024 |
| Property Subtype | Apartment | ||
| Zoning | WEST RAC | ||
| Price | $435,000 |
| Price Per Unit | $264 |
| Sale Type | Investment |
| Cap Rate | 7.13% |
| No. Units | 1648 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 1,028 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2024 |
| Zoning | WEST RAC |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1648 | $1,625 | 512 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51-42-21-02-0181 | Total Assessment | $207,160 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | $6,000 ($5.84/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
51-42-21-02-0181
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$207,160 (2026)
Annual Taxes
$6,000 ($5.84/SF)
Tax Year
2025
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823-825 NW 9th St
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