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22 Units of Atlantic Palms 400 NW 65th Ave 76 Unit Apartment Building $3,950,000 ($51,974/Unit) 5.98% Cap Rate Margate, FL 33063
Executive Summary
22-Unit Investment Portfolio – Atlantic Palms | Margate, FL Exceptional opportunity to acquire a 22-unit condominium portfolio within the established Atlantic Palms community in Margate, Florida. This bulk offering includes 22 of the community's 76 units, providing investors with a stabilized, income-producing asset and strong value-add potential. The portfolio consists of 16,969 rentable square feet featuring 42 bedrooms and 25 bathrooms across an attractive unit mix of 3 three-bedroom/two-bath units, 14 two-bedroom/one-bath units, and 5 one-bedroom/one-bath units. All units are equipped with central air conditioning and are built with durable concrete block construction. Ideally located just off Atlantic Boulevard, west of US-441 and less than one mile from Florida's Turnpike, the property offers excellent access to major employment centers, shopping, dining, schools, and public transportation. Nearby retailers include Walmart, Publix, Sedano's, and The Home Depot. With stable in-place income and the potential to increase rents to market levels, this portfolio presents an outstanding investment opportunity in one of Broward County's most desirable rental markets. 16,969 SF | 42 Bedrooms | 25 Bathrooms Diverse mix of 1-, 2-, and 3-bedroom units Concrete block construction with central A/C Prime location near Atlantic Blvd., US-441 & Florida's Turnpike Stabilized asset with significant rental upside
Property Facts
| Price | $3,950,000 | Apartment Style | Garden |
| Price Per Unit | $51,974 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.48 AC |
| Cap Rate | 5.98% | Building Size | 85,368 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 76 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | ||
| Zoning | RD-6L - Residential Multi-Family | ||
| Price | $3,950,000 |
| Price Per Unit | $51,974 |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 76 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.48 AC |
| Building Size | 85,368 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | RD-6L - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Kitchen
Site Amenities
- Pool
- Waterfront
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 54 | - | - |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $236,600 | |
| Land Assessment | $26,280 | Total Assessment | $514,880 |
Property Taxes
Parcel Numbers
Land Assessment
$26,280
Improvements Assessment
$236,600
Total Assessment
$514,880
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22 Units of Atlantic Palms | 400 NW 65th Ave