17th Place Apartments 1701 NW 58th Ter 113 Unit Apartment Building $21,250,000 ($188,053/Unit) 6.89% Cap Rate Sunrise, FL 33313

Marcus & Millichap, as exclusive listing agent, is excited to bring to market the 17th Place Apartments, a portfolio of seven, two-story buildings totaling 113 units on NW 17th Place in the City of Sunrise, Florida. The property is situated on 3.58 acres. Current ownership has managed the property for almost fourteen years and has meticulously maintained the buildings while executing on an interior and exterior renovation plan including, but not limited to new roofs, impact windows, plumbing and electrical replacement, parking lots, exterior lighting, landscaping, security upgrades, and the renovation of all of the apartments. The community was constructed between 1966 and 1974 of concrete blocks with flat built up or pitched asphalt shingle roofs. There portfolio is made up of 42 one-bedroom & one bathroom units with an average of 775 SF, 53 two-bedroom & one-bathroom units with an average of 904 SF and 18 two-bedroom & two bathroom units with an average of 1,012 SF.
This property has historically been a very stable asset with strong occupancy. This allows an investor the ability to purchase the property with very attractive financing and the possibility to obtain a loan with as little as 25% down payment. The 17th Place Apartments are strategically positioned in the center of Sunrise, Florida, one of Broward County’s most connected and amenity rich municipalities. This infill location benefits from exceptional transportation accessibility, a deep surrounding employment and retail base, strong healthcare and educational infrastructure, and long term supply constraints that support durable multifamily performance. The property’s placement within the tri county core of Miami Dade, Broward, and Palm Beach provides investors with both regional resilience and sustained renter demand. Sunrise’s established residential fabric, paired with ongoing commercial investment and reinvestment, makes the 17th Place Apartments a premier opportunity to capture stable, income generating returns in one of South Florida’s most strategically located markets.