2901 NW 18th St - Apartments FOR SALE


Fort Lauderdale, FL 33311- Lauderhill
$6,200,000 USD
954-245-3492
2901 NW 18th St, Fort Lauderdale, FL for Sale
$6,200,000 USD
Apartments - FOR SALE
1/15
null | 5.77% Cap Rate

2901 NW 18th St
Fort Lauderdale, FL 33311
Lauderhill


HIGHLIGHTS

  • 40-Units on 1.3 Acres in Central Broward County priced at $155,000 Per Unit
  • 1959 Single-Story CBS Construction, New Roofs in 2021, Most Units Renovated
  • Value Add Opportunity with Average In-Place Rent of Only $1,400 Per Month
  • Interiors Renovated w/New Kitchens, Baths, Stainless Appliances, New Flooring
  • Easy Access to Downtown Fort Lauderdale, Florida’s Turnpike and Interstate 95
  • 9.64% Population Growth Since 2010 and 444,000+ Residents Within 5 Miles

OVERVIEW

The Villas at Lake Aire consists of twelve (12) single-story buildings which were constructed in 1959 of concrete block and painted stucco with shingle roofs and the property is situated on 57,639 square feet of land, according to the Broward County Property Appraiser. Villas at Lake Aire is comprised of forty (40) one-bedroom/one-bathroom apartments totaling 16,724 square feet. Nearly all unit have been renovated by current ownership and feature either vinyl wood-plank or ceramic tile flooring, with new kitchens and bathrooms, stainless steel appliances and window/wall air conditioning units. There are 62 parking spaces. The Villas at Lake Aire are located west of Interstate 95, between Sunrise and Oakland Park Boulevards, and more specifically just south of Northwest 19th Street and just east of Northwest 31st Avenue (Martin Luther King Jr. Avenue), each of which are major arteries in Central Broward County. This location provides convenient access to Downtown Fort Lauderdale, Wilton Manors, as well as convenient connectivity to Interstate 95 and Florida’s Turnpike.

FOR SALE DETAILS

PRICE

$6,200,000 USD

PRICE/SF

$371 USD /SF

# OF UNITS

40

PRICE/UNIT

$155,000

CAP RATE

5.77%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Villas at Lake Aire

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,579 SF

ZONING

RMM-25

APN/PARCEL ID

49-42-32-14-0550

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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