4100 NW 16th Ave - Apartments FOR SALE


Fort Lauderdale, FL 33309
$11,500,000 USD
845-304-5148
4100 NW 16th Ave, Fort Lauderdale, FL for Sale
$11,500,000 USD
Apartments - FOR SALE
1/53
null | 4.76% Cap Rate

4100 NW 16th Ave
Fort Lauderdale, FL 33309


HIGHLIGHTS

  • Rare Opportunity to Assume Current Loan of $6,571,000 at 4.2% Fixed Until 2032
  • 100% Occupied, Unbelievably Located Asset, Featuring Waterfront Views from Each Unit
  • All Units are 2 or 3-Bedroom Floorplans, Two Story Townhouse Style with Private Courtyards or Front Porches, Individually Metered for Electric
  • New Investor Can Significantly Increase Income by Creating Charge Back Program for Water
  • Situated on One of Oakland Park’s Famous Twin Lakes, Surrounded by Single Family Homes
  • Interior Improvements Include – New Tile, Premium Kitchens & Bathrooms, New Central A/C, Washer & Dryer in Each Unit

OVERVIEW

Twin Lakes Villas is a 37-unit, townhome investment opportunity in Oakland Park, (Broward County), Florida. The buildings were built between 1973 using reinforced concrete block construction with painted stucco exterior. The investment opportunity is located at 4100 NW 16th Ave, north of Oakland Park Blvd, and just west of I-95. The neighborhood consists of a mix of mostly single-family homes in age and construction as the subject property. Twin Lakes is uniquely situated adjacent to Royal Palm Park, with direct access to the trail, tennis courts and playground. The investment consists of (14) fourteen two bedroom-one and a half bath, (3) two bedroom-two bath, (6) three bedroom-one and a half bath, & (14) fourteen three bedroom-two bath apartments totaling approximately 37,980 RSF. All Units feature private courtyards or front porches and are individually metered for electric & water. Exterior capital improvements include resurfaced parking lot, painted exterior, new central a/c, updated pool & updated plumbing. Interior capital improvements include new tile, premium kitchens and bathrooms, new central a/c & washer/dryers in each unit. In addition to continuing to push the rents, a new investor can significantly increase the income by implementing a utility chargeback program with the tenants. Twin Lakes Villas offers an investor the opportunity to purchase a well located, stabilized, turnkey asset where the current owner has made capital improvements that offer attractive in-place income with upside. Twin Lakes Villas is within proximity to major retailers, restaurants, and major transportation, including the I-95 Business Corridor & Fort Lauderdale Executive Airport.

FOR SALE DETAILS

PRICE

$11,500,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

37

PRICE/UNIT

$310,811

CAP RATE

4.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Twin Lakes Villas

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

68

LAND DETAILS

LAND ACRES

2.19 AC

LAND SF

95,396 SF

ZONING

RM-16

APN/PARCEL ID

49-42-21-00-0100

ASK ABOUT THIS PROPERTY

Daniel DratchFranklin StreetMore Info
845-304-5148

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Daniel DratchFranklin StreetMore Info
845-304-5148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.