1700 NW 58th Ter - Apartments FOR SALE


Sunrise, FL 33313
$6,475,000 USD
954-816-0450
1700 NW 58th Ter, Sunrise, FL for Sale
$6,475,000 USD
Apartments - FOR SALE
1/9
null | 7.03% Cap Rate

1700 NW 58th Ter
Sunrise, FL 33313


HIGHLIGHTS

  • 35 units (54.7%) offered as a bulk portfolio sale of a 64 unit condominium community
  • 100% occupied at time of offering-immediate, in-place income
  • 40-year building recertification complete; new roof recently installed
  • All offered units are 2 Bed/ 2 Bath
  • Average in-place rent of $2,250/unit/month ($27,000/unit annually)
  • HOA reserve fund of approximately $150,000 supporting financial stability

OVERVIEW

Exclusive Bulk Investment Opportunity – La Salle Park Condominiums Top Miami Realty is proud to present a rare opportunity to acquire 35 fully renovated condominium units in La Salle Park Condominiums, a well-maintained 64-unit community in the heart of Sunrise, Florida. This exceptional portfolio represents 54.7% ownership of the building and consists entirely of 2-bedroom, 2-bathroom units, offering immediate cash flow with an attractive 7.0% going-in cap rate. The offering also provides a unique opportunity to privately acquire the remaining units over time, creating the potential for majority or full ownership. The portfolio is 100% occupied and features extensive interior renovations, including granite countertops, stainless steel appliances, updated flooring, and modernized bathrooms, significantly reducing near-term capital expenditure requirements. The community has successfully completed its 40-year recertification, and a new roof has recently been installed, providing investors with added confidence in the property's long-term condition. Residents also enjoy an on-site swimming pool, contributing to strong tenant demand and stable occupancy. This is a true turnkey investment opportunity in one of South Florida's strongest rental markets, combining stable income, value-add potential, and long-term appreciation. Investment highlights 64-unit condominium community; 35 units (54.7%) offered as a bulk portfolio sale All offered units are 2 Bed / 2 Bath and fully renovated 100% occupied at time of offering — immediate, in-place income Average in-place rent of $2,250/unit/month ($27,000/unit annually) 40-year building recertification complete; new roof recently installed HOA reserve fund of approximately $150,000 supporting financial stability On-site pool; landscaped grounds with ample parking Remaining 29 units can be acquired individually over time for full building control Low Acquisition Cost — priced well below replacement cost, a savvy basis relative to new construction Immediate Income — 100% occupancy across all 35 units generates cash flow from day one Reduced Liability — completed 40-year recertification eliminates major deferred-maintenance risk Renovated Product — nearly all units updated, minimizing near-term capital expenditure Scalable Control — bulk structure provides a path to acquiring the remaining 29 units over time

FOR SALE DETAILS

PRICE

$6,475,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

35

PRICE/UNIT

$185,000

CAP RATE

7.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

RM-25

APN/PARCEL ID

49-41-35-JA-0010,49-41-35-JA-0020,49-41-35-JA-0030,49-41-35-JA-0040,49-41-35-JA-0050,49-41-35-JA-0060,49-41-35-JA-0070,49-41-35-JA-0080,49-41-35-JA-0090,49-41-35-JA-0100,49-41-35-JA-0110,49-41-35-JA-0120,49-41-35-JA-0130,49-41-35-JA-0140,49-41-35-JA-0150,49-41-35-JA-0160,49-41-35-JA-0170

ASK ABOUT THIS PROPERTY

Ruslana DorotychTop Miami RealtyMore Info
954-816-0450

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Ruslana DorotychTop Miami RealtyMore Info
954-816-0450

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