Marcus & Millichap, as exclusive listing agent, is pleased to present Legacy Heights Townhomes, an 11-unit gated townhome community located at 322-324 NE 3rd Street in the rapidly growing Hallandale Beach submarket of Broward County. The offering represents a rare opportunity to acquire a fully renovated, low-density, boutique townhome community with in-place cash flow, embedded rental upside, an attractive assumable financing package, and multiple exit strategies, including the potential for a future condo conversion.

Built in 2007 of durable concrete block construction with pitched tile roofs, Legacy Heights consists of two two-story buildings totaling approximately 14,301 adjusted square feet, situated on a 29,001 square foot (0.67 AC) parcel zoned Central RAC. The unit mix includes (8) three-bedroom / two-and-a-half bathroom townhomes with private attached garages and (3) two-bedroom / two-and a-half-bathroom townhomes. The property benefits from modern system infrastructure including PVC plumbing, copper wiring, and city sewer connection, providing residents with the security, privacy, and amenity profile of a much larger community.

Ten of the eleven units have been completely renovated within the last three years, eliminating near-term interior capital expenditure requirements for an incoming investor. Interior renovations are comprehensive and include new kitchens, updated bathrooms, new flooring, new appliances, and new lighting throughout. Every townhome features in-unit washer and dryer, its own private fenced-in back yard, and spacious multi-story floor plans that strongly outperform traditional garden-style apartment product in both tenant retention and achievable rents.

Recent property-wide capital improvements completed by ownership are extensive and include a freshly resurfaced Diamond Brite community pool, a new pool filter and pump, new chemical injectors, upgraded
parking lot planters, updated electrical and plumbing fixtures, and a newly installed Click-to- Enter electronic gate entry system with a commercial-grade gate operator installed in 2025. The combination of durable concrete block construction, pitched tile roofs, recent interior renovations, and completed common-area upgrades positions Legacy Heights as one of the most well-maintained boutique townhome communities in the submarket.

Ownership operates Legacy Heights on a true tenant-paid utility structure, with residents responsible for 100% of water, sewer, trash, electric, cable, and internet expenses on top of rent. This structure insulates the new owner from rising utility costs, minimizes operating expenses, and maximizes net operating income. All units carry first month, last month, and security deposit balances on file, reflecting a well-managed, professionally run rent roll. Current in-place rents average approximately $3,200 per month, with our analysis indicating roughly 10% of embedded rental upside remaining as in-place leases roll to market. Legacy Heights is also being offered with attractive assumable financing in place. The existing Fannie Mae loan carries a 4.1% interest-only rate with a current balance of approximately $1.675M and a maturity in 2031 – a meaningful below-market financing advantage in today’s interest rate environment. The assumption allows a qualified buyer to preserve a low cost of capital and materially enhance levered returns on day one.

Beyond the strong in-place cash flow profile, Legacy Heights offers an investor a uniquely attractive secondary exit strategy through a potential condo conversion. Comparable individual townhome sales in the immediate area are averaging approximately $670,000, providing the new owner with the optionality to hold long-term as a stabilized, high-margin rental community or to unlock significant value through unit-by-unit sales following a condo conversion. The site’s Central RAC zoning further supports flexibility for long-term repositioning.

Located minutes from downtown Hallandale Beach, the Big Easy Casino, Gulfstream Park, and a wave of new luxury developments reshaping the corridor between Hallandale Beach and Aventura, Legacy Heights sits squarely in the path of growth. The surrounding area continues to experience strong rental demand driven by population growth, employment expansion, and accessibility to both Miami-Dade and Broward County
employment centers.

Legacy Heights Townhomes presents investors with the opportunity to acquire a fully renovated, gated, 11-unit boutique townhome community featuring a desirable unit mix, modern system infrastructure, tenant paid utilities, assumable below-market financing, in-place rental upside, and meaningful condo conversion potential in one of South Florida’s most active and rapidly appreciating rental markets.