Historical Multifamily Sale Listing - ROYAL PALMS APARTMENTS

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ROYAL PALMS APARTMENTS

3001 NW 35TH AVE, Lauderdale Lakes, FL 33311

N/A

52 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
52
Building Size:
37,464 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
5.10%
No. Stories:
2
Year Built:
1973
Listing ID
14550707
Last Updated
over 1 year ago

Highlights

  • LOCATED ADJACENT TO $ 100 MILL. DEVELOPMENT
  • LOCATED RIGHT ACROSS FROM A HOSPITAL & ASSITED LIVING FACILITY
  • EXCELLENT UNIT MIX
  • GREAT LOCATION FOR ASSISTED LIVING FACILITY

Description

We are pleased to announce an exceptional investment opportunity to acquire an extremely well positioned property in an explosive market. The offering is a 52 units plus office/manager's unit property located in the revitalized community known as Lauderdale Lakes, Florida. This concrete block constructed asset was built in 1973 and consists of (36) One Bedroom/One Bathroom units, measuring 630 sq.ft.
(16 ) 2 Bedroom\One-half Bathroom units measuring 924 sq.ft.
***THIS PROPERTY CAN BE PURCHASE AS A PACKAGE WITH VILLA TERESA APTS -38 UNITS WILTON MANORS LAKE FL; MANOR NORTH & SOUTH APTS- 40 UNITS WILTON MANORS, FL; AND EMERALD PLAZA & APTS 29 UNITS & 5 RETAIL.( all listed on loopnet)***

Royal Palms has the perfect location in the heart of Broward County. The property, located adjacent to the new Lauderdale Lakes Town Center & Bella Vista, has great upside potential for an investor to own this property in the CRA district of Lauderdale Lakes. The Town Center, a mix-used new-urbanist community has already spawned other commercial ventures like the Super Wal-Mart and AGU Studios, the interest will only strengthen once construction gets underway. Bella Vista will consist of over 450 luxury residential units surrounding a new Broward Library , educational Resource Center as well as 20,000 sq.ft of retail/office space in two 4 stories buildings, that will make up the Town Center. The total cost of the project is estimated to be over $100 million dollars. (see pics. on page 6)

Map of 3001 NW 35TH AVE, Lauderdale Lakes, FL 33311 (Broward County)

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