The Palms Condominiums of North Lauderdale is a 30-unit two-floor multifamily community located in the heart of the North Lauderdale Submarket in Fort Lauderdale, Florida, which is in Broward County. The subject property was built in 1965 using reinforced concrete block construction with painted stucco exterior and is situated on 1.75 acres of land. The property has undergone significant capital improvements including, new roof, hurricane windows and doors, central a/c units, PVC plumbing, fiber ALI cameras, GFI certified electric panels, internet and cable as well as interior renovations. The property also boasts amenities such as onsite laundry and picnic benches with BBQ grills.
The property is located just a few blocks south of Coral Square Shopping Mall, northeast of Chase Stadium where Inter Miami FC plays and at the intersection of N Lauderdale Ave and SW 7th Pl. The Palms Condominiums is walking distance to newly built retail and restaurants and surrounded by new Class B apartment communities. The asset is conveniently located west of Florida T-Pike, north of Commercial Blvd and east of N University Dr. The property is also located 11 miles from renowned Lauderdale by the Sea and the financial district in Ft Lauderdale. Additionally, within minutes of driving you can access the world-famous Fort Lauderdale Beach and the shops/restaurants of the Coral Springs mall.
The investment opportunity consists of an attractive unit mix of (26) three-bedroom & two-bathroom units and (4) two bedroom & two-bathroom units totaling approximately 28,500 RSF. The Palm Condominiums have been meticulously cared for by a professional owner who has fully renovated the interior, amplified the exterior and amenities, making this property safe, secure, and a perfect investment opportunity.