Investment Overview

Marcus & Millichap, as exclusive listing agent is excited to bring to market Parkview at Gulfstream, a 10-unit, boutique apartment community located in the most sought-after submarket in the city of Hallandale Beach, Florida. The property is situated four blocks south of Hallandale Beach Boulevard and just one block west of Federal Highway (US 1) and Gulfstream Park, and directly across the street from Peter Bluesten Park, the Hallandale Beach YMCA Family Center, City Hall, the Police Department, all the City Government Offices, and the US Postal Service. Furthermore, HCA Florida Aventura Hospital, Publix Supermarket and Whole Foods Market are all within just a few blocks. The property consists of four separately parceled and contiguous, one and two-story buildings on a .42-acre site. The land is zoned RAC-TC which allows for the development of 21 units. There are currently two developments within a few blocks that are approved for 128 units per acre, which would equate to 52 units on the subject site. Furthermore, the sale of the property includes architectural plans for the addition of a second floor with two additional apartments at 311 SE 5th Street. Parkview at Gulfstream was acquired by the current owner four years ago and went through an extensive interior and exterior renovation, including but not limited to all new roofs and mansards, parking lots, hurricane impact windows and doors, new air-conditioning systems and hot-water heaters, interior, exterior, and underground plumbing and electrical, railings, exterior perimeter fencing, landscaping, and high-end apartment interior upgrades, all totaling over $1.1 million.