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701 NE 8th St 10 Unit Apartment Building $2,908,311 CAD ($290,831 CAD/Unit) 4.94% Cap Rate Hallandale Beach, FL 33009
INVESTMENT HIGHLIGHTS
- Rare Opportunity To Acquire A Well-Maintained Multifamily Asset In The Heart Of Hallandale Beach - 40-Year Recertification Was Completed
- Property Features Strong Day 1 Cash Flow With The Ability To Further Increase Rents By Almost 11.63% With Little To No Capital Expenditures
- All Units Separately Metered For Electricity - Units Offer Central Air-Conditioning Throughout And Separate Hot Water Heaters
- Two-Story Garden Style Building Situated On Approximately 0.21 Acres Of Land
- Spacious Units All Featuring Tile Flooring, Stainless Steel Appliances, Premium Kitchen Cabinetry, Quartz Countertops, Updated Bathrooms, And More
- Prime Hallandale Beach Location Within Walking Distance To The Big Easy Casino, Restaurants, Retailers, Nightlife
EXECUTIVE SUMMARY
701 NE 8th St presents a rare opportunity to acquire a well-maintained multifamily asset in the heart of Hallandale Beach. The two-story, 6,044 SF garden-style building features 10 units and has been consistently operated at 100% occupancy, offering investors reliable day-one income with minimal operational friction. Built in 1973 and positioned within the CENTRAL RAC zoning district, the property provides both long-term stability and flexibility for future multifamily-oriented use.
Each unit has been thoughtfully modernized, creating an attractive and durable rental product that appeals to today’s residents. Interiors feature tile flooring, stainless steel appliances, premium kitchen cabinetry, quartz countertops, and updated bathrooms, resulting in a turnkey living experience with minimal maintenance requirements. Operational efficiency is enhanced through separate electrical metering, central air-conditioning, individual hot water heaters, a recently repaved parking area, and a roof that was replaced approximately five years ago. The property has also completed its 40-year recertification, providing added peace of mind for investors.
With strong in-place cash flow and clear potential to further elevate rents with little to no capital expenditure, the property represents a compelling acquisition for Multifamily and Low-Rise/Garden investors seeking a stable, income-producing asset. The location delivers consistent tenant demand and long-term retention, making this offering a standout opportunity within the Hallandale Beach multifamily market.
Each unit has been thoughtfully modernized, creating an attractive and durable rental product that appeals to today’s residents. Interiors feature tile flooring, stainless steel appliances, premium kitchen cabinetry, quartz countertops, and updated bathrooms, resulting in a turnkey living experience with minimal maintenance requirements. Operational efficiency is enhanced through separate electrical metering, central air-conditioning, individual hot water heaters, a recently repaved parking area, and a roof that was replaced approximately five years ago. The property has also completed its 40-year recertification, providing added peace of mind for investors.
With strong in-place cash flow and clear potential to further elevate rents with little to no capital expenditure, the property represents a compelling acquisition for Multifamily and Low-Rise/Garden investors seeking a stable, income-producing asset. The location delivers consistent tenant demand and long-term retention, making this offering a standout opportunity within the Hallandale Beach multifamily market.
PROPERTY FACTS
| Price | $2,908,311 CAD | Building Class | C |
| Price Per Unit | $290,831 CAD | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 6,044 SF |
| Cap Rate | 4.94% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RD-12 - Residential Zoning | ||
| Price | $2,908,311 CAD |
| Price Per Unit | $290,831 CAD |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 6,044 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | RD-12 - Residential Zoning |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 51-42-22-13-1140 | Improvements Assessment | $1,838,995 CAD |
| Land Assessment | $128,692 CAD | Total Assessment | $1,967,686 CAD |
PROPERTY TAXES
Parcel Number
51-42-22-13-1140
Land Assessment
$128,692 CAD
Improvements Assessment
$1,838,995 CAD
Total Assessment
$1,967,686 CAD
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701 NE 8th St
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