Investment Overview

Marcus & Millichap is pleased to present Sand Dollar Apartments, a 16-unit multifamily property located at 233 SE 20th Avenue in Deerfield Beach, Florida. Built in 1957, the property totals 7,732 gross square feet and is situated on a 0.46-acre lot. Constructed of concrete block with a flat roof, the property also features hurricane impact windows throughout and an on-site swimming pool, creating a strong amenity package in a highly desirable coastal location. The property is comprised of 10 studio units averaging 380 square feet, 3 one-bedroom/one-bathroom units averaging 525 square feet, 2 one-bedroom/two-bathroom units averaging 600 square feet, and 1 two-bedroom/two-bathroom unit totaling 900 square feet. While the property is currently operated as annual rentals, the layout and location support operation as up to 19 units, offering additional flexibility for a future owner. Located just blocks from Deerfield Beach, the International Fishing Pier, and the city's vibrant beachfront dining and entertainment district, Sand Dollar Apartments is positioned within one of South Florida's most sought-after coastal rental markets. The surrounding area benefits from strong tourism demand, walkability to the beach, and proximity to major employment centers throughout Broward and Palm Beach Counties. Given its premier beachside location, boutique unit mix, and hospitality-oriented layout, the property's highest and best use may be as a short-term vacation rental operation, allowing an investor to capitalize on the area's year-round tourism and seasonal visitor demand. The existing annual rental operation provides stable income while offering a clear path for future repositioning. Sand Dollar Apartments presents a rare opportunity to acquire a coastal multifamily asset with short-term rental potential in a supply-constrained beach market where hospitality and vacation rental demand continue to outperform many traditional rental submarkets.