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Boardwalk at Inverrary Apartments
2915 NW 60th Ave, Sunrise, FL 33313
310 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 266,710 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- Listing ID
- Last Updated
- over 1 year ago
NAI Tampa Bay, Inc and C-III Realty Services are pleased to present the Boardwalk at Inverrary, Located at 2915 NW 60th Avenue, Sunrise Florida (Ft. Lauderdale). The property offers an investor tremendous upside through repositioning and rehabilitation.
The asset contains 310 apartment units and is a concrete block construction five (5) story three (3) building asset that. All units are individually metered for electric service.
The asset is currently owned by the lender and managed by a third party property manager that can be terminated at closing. The asset is currently 73% occupied which is well under the surrounding general market that is advertised at 95% for the greater Broward County market. We believe this vacancy factor allows a new owner a substantial opportunity to reposition the asset and gain leverage through renovation and raising rents for newly renovated units without disrupting current cash flow.
Property tours are currently being scheduled for June 5th through the 8th, 2012.
Please call to schedule time as soon as possible.
Final offers are due on June 22nd, 2012
Buyer & Brokers Notes:
All buyers must sign a C-A Agreement
All Buyers brokers must be compensated by their client outside of the contract
Cap rate above is stabilized proforma expenses.
Property tours are being scheduled, please contact us to schedule a tour time.
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P