3 duplex - 2 single family houses - hallandale beach, florida€¦ · west palm beach and miami....
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3 Duplex - 2 Single family houses - Hallandale
Beach, Florida
Price: $899,000 for 8 units
Location Overview
Hallandale Beach, Fl
Properties are located in a strong rental market. They are situated three blocks north of Hallandale Beach Boulevard and less than one half mile from
Interstate 95, which are major thoroughfares through southeast Broward County. The neighborhood is primarily composed of small apartment
buildings, single-family homes and light industrial properties. There are also multiplepublic parks and schools in the immediate area.
Those properties are 10 minutes from the beautiful Hallandale beaches, 10 minutes from the Aventura Mall and 15 minutes from FLL Airport.
Broward County
Strong population growth
■ Broward County’s population continues to grow, with in-migration accounting for a large shareof new residents.
Desirable corporate location
■ Corporations are attracted to the area for its proximity to Latin American markets.
Housing affordability
■ Home prices are more affordable in Broward County than in many other coastal counties.Geography
Broward County has little room for expansion. The County is bordered to the north and south by the Palm Beach and Miami-Dade counties, respectively, and the Atlantic Ocean to the east. The Everglades to the west are protected and unavailable for development. The 23 miles of shoreline and 300 miles of inland waterways in the county provide the means for recreation and transport. Broward County enjoys a tropical climate and contains flat terrain.
Infrastructures
Broward County is very accessible to motorists, with major north-south thoroughfaresincluding Interstate 95, Interstate 75 and Florida’s Turnpike. Interstate 595 and the SawgrassExpressway serve as the primary east-west corridors.
Fort Lauderdale/Hollywood International Airport provides nonstop service to cities in theUnited States, Canada, Latin America and the Caribbean. The airport is located less than fourmiles from Port Everglades, one of the busiest cruise ports in the world. In addition, the port isan active cargo and container facility.
The County is served by the Tri-Rail commuter rail line, which connects Fort Lauderdale withWest Palm Beach and Miami. CSX, Florida East Coast and Amtrak are other rail carriers.
Housing and Demographics
▪ The single-family housing market continues to recover. Transaction velocity rose 11 percentover the past year, while the median price of an existing single-family residence climbed 8percent to $245,000.
▪ While the median price of an existing single-family home remains well below its peak prior tothe recession, the level has nonetheless increased 46 percent since bottoming four years ago,far outpacing the rise in incomes.
▪ The hike in single-family home prices and limited for-sale inventory continue to divert newdemand to the rental sector, a trend that will persist countywide in the near term.
Outlook: Developers are on track to pull permits for 2,200 units of multifamily housing this year in an effort to capture a projected rise in rental demand stemming from less affordable single-family housing and favorable economic trends.
Table of Contents
Property 1 749 NW 5th COURT, Hallandale
Property 2 802 NW 6th AVENUE, Hallandale
Property 3 506 NW 7th COURT, Hallandale
Property 4 530 NW 6th STREET, Hallandale
Property 5 918 NW 2nd AVENUE, Hallandale
749 NW 5th Court – Hallandale Beach
Single Family house with a big back yard
3 Bedrooms & 2 Baths
1,100 Sq.Ft
Close to shops, schools and parks.
Rental Income: 1100$
Value (approx. ) : $150,000
802 NW 6th AV – Hallandale Beach
Duplex
2 units : 2 Bed – 2 Bath
1,365 SF
Rented For $1,450/month
Value approx. : $200,000
506 NW 7th Court – Hallandale Beach
Duplex
2 Units : 2 Bedrooms + 1 Bath
1,248 Sq.ft
Close to shops, schools and parks.
Income : unit 1 : $850/mo + Unit 2 : $850/ Mo : TOTAL : $1,700 / Mo
Value (Approx) : $150,000
530 NW 6th Street– Hallandale Beach
Duplex
2BR 1BATH .
Rental Income
- Unit 1: 750$
- Unit 2: 750$
Value (Approx ) $180,000
918 NW 2nd Avenue – Hallandale Beach
• Single Family home
• 3 Bed & 1 Bath
• 1,000 SF
• Close to school, parks, sports ground, pool.
• Rental Income 1,100$
• Value (approx. ) :$120,000
Broward County has a diverse group of employers and many small enterprises,
with the average establishment employing 10 workers. Government accounts for
13 percent of the work force. Large employers include the Broward County
School Board, Broward County and the City of Fort Lauderdale, which,
combined, support over 40,000 workers.
DEMOGRAPHY
Price Offered : $899,000
Brut annual income: 82,800
Expenses :
Water: $9,600$
Vacancy: 0,05 X 82800=$4,140
Tax: $7,550,39
Net annual income: $61 509,61
Cap Rate : 9%
Summary
