Joseph Thomas and The Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Pinecrest Flats Fort Lauderdale, an 8-unit, two-building apartment complex located in Fort Lauderdale, Florida.
Pinecrest Flats consists of two, single-story fourplexes located at 5901 and 5911 Northeast 18th Avenue in the Coral Ridge Isles neighborhood of Fort Lauderdale. The properties were built in 1962 of concrete block and stucco, total 5,346 adjusted square-feet and encompass a combined 15,000 square-foot lot, according to the Broward County Property Appraiser. The unit mix consists of (4) one-bedroom | one-bathroom units with an average in-place rent of $1,650 per month and (4) two-bedroom | one-bathroom units with an average in-place rent of $1,965 per month. Residents are responsible for their own electricity, while water, sewer and trash are included in the rent. Units feature ceramic tile or vinyl wood-plank flooring, black, or stainless-steel electric appliances, individual hot water heaters and central air conditioning. Both properties also feature hurricane-resistant impact windows, which were installed in 2019 and current ownership renovated seven apartments in 2021-2022.