Marcus & Millichap has arranged the $4.37 million sale of Legacy Heights Townhomes, an 11-unit multifamily property in Hallandale Beach, Florida. The transaction reflects continued investor interest in renovated, well-positioned South Florida housing assets and established a record price per unit for a non-waterfront commercial multifamily property in the city.
Key takeaways
- Legacy Heights Townhomes sold for $4,368,157, or approximately $420,455 per unit.
- The 11-unit property attracted multiple offers during its first week on the market.
- The all-cash transaction moved from listing to contract in roughly two weeks.
- Marcus & Millichap represented the seller and identified a first-time local buyer.
The sale underscores the appeal of smaller multifamily properties that offer updated interiors, townhome-style layouts and access to major South Florida employment and retail destinations. The property traded without a price renegotiation or buyer credits during due diligence.
Property details and improvements
Legacy Heights Townhomes comprises two two-story buildings totaling 14,246 square feet on approximately 0.67 acres. Built in 2007, the community includes three two-bedroom townhomes and eight three-bedroom townhomes, each with a private attached garage.
Ten of the 11 residences were fully renovated during the past three years. Improvements included remodeled kitchens, new flooring and appliances, updated lighting and refreshed bathrooms. Additional features include in-unit washers and dryers, fenced private backyards, on-site parking, electronic gate access and a recently upgraded swimming pool.
Location supports investor demand
The property is located at 322-324 NE 3rd St., near the intersection of Hallandale Beach Boulevard and U.S. Route 1. Its position provides access to downtown Hallandale Beach, the Big Easy Casino and nearby Aventura, supporting the property’s appeal to renters seeking access to retail, entertainment and transportation corridors.
Hallandale Beach’s combination of coastal proximity, established neighborhoods and connectivity to the broader Miami-Fort Lauderdale market has helped sustain demand for multifamily housing. The record per-unit pricing achieved in this transaction highlights the premium investors may place on renovated assets in accessible locations, even when they are not directly on the waterfront.
Marcus & Millichap’s role
Austin Michels, Evan Kristol, Felipe Echarte and Brandon Rex of Marcus & Millichap’s Fort Lauderdale office exclusively marketed the property for the local private seller. The brokerage team secured multiple competitive offers shortly after launching the marketing process and brought the transaction to contract within two weeks.
The sale adds to Marcus & Millichap’s activity in the South Florida investment market. The firm provides commercial real estate investment sales, financing, research and advisory services through offices across the United States and Canada.
Sources
- Legacy Heights Townhomes, Yield PRO.