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Victoria Park Village Garden Apartments 912-918 NE 15th Ave 16 Unit Apartment Building $4,560,000 ($285,000/Unit) 5.19% Cap Rate Fort Lauderdale, FL 33304
EXECUTIVE SUMMARY
Victoria Park Village consists of three, two-story apartment buildings totaling 16 units, which were completely renovated from 2016 – 2018. The property was originally constructed in 1953 of concrete block and stucco with 11,926 square feet and a 20,250 square foot lot according to the Broward County Property Appraiser.
Victoria Park Village is comprised of all two-bedroom | two-bathroom units measuring approximately 745 square feet. Units have a contemporary Italian design featuring custom cabinets, quartz counter tops, stackable washer/dryers, stainless-steel refrigerators, microwave ovens and dishwashers. Bathrooms feature low-flow toilets, custom vanities, and frameless glass showers with oversized shower heads. Additionally, the buildings are fitted with Eco impact windows and Eco-Smart tankless water heaters, as well as a mix of central and mini-split air conditioning units. The common area features electronic gated-access and open courtyard.
Victoria Park Village is comprised of all two-bedroom | two-bathroom units measuring approximately 745 square feet. Units have a contemporary Italian design featuring custom cabinets, quartz counter tops, stackable washer/dryers, stainless-steel refrigerators, microwave ovens and dishwashers. Bathrooms feature low-flow toilets, custom vanities, and frameless glass showers with oversized shower heads. Additionally, the buildings are fitted with Eco impact windows and Eco-Smart tankless water heaters, as well as a mix of central and mini-split air conditioning units. The common area features electronic gated-access and open courtyard.
PROPERTY FACTS
| Price | $4,560,000 | Apartment Style | Low-Rise |
| Price Per Unit | $285,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 5.19% | Building Size | 11,926 SF |
| Gross Rent Multiplier | 11.01 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 0.94/1,000 SF |
| Zoning | RMM-25,Ft Lauderdale | ||
| Price | $4,560,000 |
| Price Per Unit | $285,000 |
| Sale Type | Investment |
| Cap Rate | 5.19% |
| Gross Rent Multiplier | 11.01 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 11,926 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 0.94/1,000 SF |
| Zoning | RMM-25,Ft Lauderdale |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 16 | $2,150 | 745 |
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Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 49-42-34-05-8040 | Improvements Assessment | $3,466,660 |
| Land Assessment | $303,750 | Total Assessment | $3,770,410 |
PROPERTY TAXES
Parcel Number
49-42-34-05-8040
Land Assessment
$303,750
Improvements Assessment
$3,466,660
Total Assessment
$3,770,410
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Victoria Park Village Garden Apartments | 912-918 NE 15th Ave
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