well-maintained investment property in …...mardi gras casino gulfstream park racing and casino...
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Am azing renovat ed 8-unit invest m ent proper t y in Hallandale Beach. The building is well-m aint ained and fu lly occupied. Fant ast ic for exper ienced or beginner invest ors w it h Gross ret urns of 9.67% at ask ing pr ice. Rent s are below-m arket and can be im proved w it h m any new developm ent s in t he im m ediat e area.
- Recently painted exterior in contemporary grey, white and red color scheme
- New tables and benches in the courtyard- Recently renovated units- Fully Occupied building- Off-street parking for each unit, a rarity in the area.
Exclusively Represented by:The Brissi Group
EWM Realty International419 W 41st St, Miami Beach, FL 33140www.BrissiGroup.com
WELL-MAINTAINED INVESTMENT
PROPERTY IN FAST-GROWING
HALLANDALE BEACH, FL.
List ed for $978,000
RECENTLY RENOVATED APARTMENTS
8 unit building consist ing of :
- 4 1 Bed/1 Bat h apar t m ent s each w it h fenced in pr ivat e pat ios- 4 St udio Apar t m ent s
Year Built : 1955
Lot Size: 8616 square feet
Park ing: 8 Of f -st reet Park ing Spaces
Am enit ies: On-sit e Laundry
- Earn ext ra incom e f rom t he Laundry Machines (cur rent ly around
$2500 annually)
Hurr icane Shut t ers Inst alled
- Save BIG on Proper t y Insurance cost s w it h Hur r icane Shut t ers
inst alled.
CBS Const ruct ion
Gas Appliances
- Great am enit y and also saves m oney for t he landlord.
Proper t y is cur rent ly l icensed as a non-t ransient apar t m ent
allow ing rent als as shor t as 30 days. This could be changed t o a
t ransient apar t m ent l icense allow ing shor t t erm rent als via
AirBNB, VRBO, Hom eaway, or sim ilar .
Proper t y Feat ures
Hallandale Beach"Progress. Innovat ion. Oppor t unit y. Cit y of Choice."
- Locat ed in Broward Count y, just nor t h of t he Miam i-Dade count y l ine
- One of t he fast est grow ing cit ies in m et ro Miam i w it h a cur rent populat ion of 39,500.
- Hom e t o Mardi Gras Casino, Gulfst ream Park Racet rack and Casino, Diplom at Golf
Course, and m uch m ore.
New Project s Built , Under Const ruct ion, and Proposed in Hallandale Beach
- At lant ic Vil lage - a $17 million USD project with 32,000 square feet of retail and office space.
- At lant ic Vil lage II - Phase 2 of the Atlantic Village project with an additional 35,000 square feet of commercial space.
- Vil lage of Bluest en Park - $10 Million USD 45 unit rental project.- 2000 Ocean - Beach-front luxury condominium tower with pricing starting from $2.8 Million to
over $10 Million.- Nine Hundred - 23-story 415,882 square feet mixed-use tower with 320 residential units, 150
room Marriott-branded hotel, and 5,595 square feet of retail space.- Chat eau Square - $375 Million USD Mixed-use project consisting of two 40-story towers with
726 residential units, 280 hotel rooms, retail, and office space.- Hallandale Ar t Square - 8 acre mixed use project featuring 6 buildings that will include 358
rental apartments, fitness center, resort-style pool and 12,000 square feet of retail.- Beacon Hallandale - 70,000 square foot class-A office building with 80 office condo units.- Beachwalk - 34-story condo-hotel with 300 units.
In t he Cent er of Everyt hing
Mardi Gras Casino
Gulfstream Park Racing and CasinoNine Hundred
Atlantic Ocean/Beach - 8 min drive
Chateau Square
ArtSquare Hallandale
Beacon Hallandale
Diplomat Golf Course
<-- I-95 - 10 min drive
Proper t y is locat ed east of US-1 and w it h in walk ing dist ance of shops and rest aurant s.
2 m iles f rom t he beach.
Easy access t o I-95 w it h in a 10 m inut e dr ive.
Incom e & Expenses - Cur rent and Pro Form a
Current Incom e
Pro Form a br inging Annual Rent s up t o Market Rat e
Pro Form a rent ing unit s shor t -t erm . Using a very conservat ive est im at e of 21 night s occupied per m ont h (70% occupancy rat e)
Apt #1 $1,100 $1,200 $125 per night x 21 night s = $2,625
Apt #2 $850 $900 $90 per night x 21 night s = $1,890
Apt #3 $800 $900 $90 per night x 21 night s = $1,890
Apt #4 $1,150 $1,200 $125 per night x 21 night s = $2,625
Apt #5 $1,000 $1,200 $125 per night x 21 night s = $2,625
Apt #6 $825 $900 $90 per night x 21 night s = $1,890
Apt #7 $850 $900 $90 per night x 21 night s = $1,890
Apt #8 $1,100 $1,200 $125 per night x 21 night s = $2,625
Tot al Mont hly Rent al Incom e
$7,675 $8,400 $18,060
Laundry Annual
$2,500 $2,500 $1,500
Gross Annual Incom e
$94,600 $103,300 $216,720
EXPENSES
Insurance -$2,380 -$2,380 -$2,380
Taxes -$11,800 -$11,800 -$11,800
Trash -$7,400 -$7,400 -$7,400
FPL -$3,450 -$3,450 -$3,450
Gas -$1,200 -$1,200 -$1,200
Com cast -$1,200 -$1,200 -$1,200
Tot al Annual Expenses
-$27,430 -$27,430 -$27,430
NOI $67,170 $75,870 $189,290
Ret urn % 6.87% 7.76% 19.35%
* Pro Forma numbers are estimates only. Market Rate rents based on currently available data from MLS in Hallandale Beach. Short Term numbers are based on an average found on AirBNB. Additional management expenses are likely necessary for short term rentals which not been accounted for in above numbers.
Exclusively Market ed by t he
Br issi Group of EWM Realt y Int ernat ional
Ben Br issi, ESQ
Broker-Associate
Brissi Group Founder
Mobile - 561-870-2211
Email - Ben@BrissiGroup.com
web - www.BrissiGroup.com
EWM Realty International - 419 W 41st St, Miami Beach, FL 33140
Zach Joslin
Realtor
Brissi Group Co-Founder
Mobile - 561-222-5240
Email - Zach@BrissiGroup.com
web - www.BrissiGroup.com
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