700 SW 81st Ave - Apartments FOR SALE


North Lauderdale, FL 33068- Lauderdale North Park
$9,500,000 USD
845-304-5148
700 SW 81st Ave, North Lauderdale, FL for Sale
$9,500,000 USD
Apartments - FOR SALE
1/21
null | 5.66% Cap Rate

700 SW 81st Ave
North Lauderdale, FL 33068
Lauderdale North Park


HIGHLIGHTS

  • Opportunity To Acquire Turnkey Multifamily Community With Partially Upgraded Roofs, Hurricane Impact Windows & Doors, 28 Camera Video System W/ Permit
  • Newly Installed Sign Compliant With Local Regulations And Enhanced Visibility With Upgraded Exterior Lights And Each Unit Equipped With Internet
  • All New Fully Renovated Kitchens And Bathrooms With Modern Appliances And High-Quality Fixtures
  • Upgraded Electric Meters And Panels With GFI Outlets With Complete Replacement Of Plumbing Fixtures With All PVC Plumbing
  • All Work Completed with Proper Permitting - Over 100 Permits Pulled On This Property In 2022-2024
  • New Site Plan Approved For 10 Additional Units Plus An Office, Allowing For Future Growth Opportunities

OVERVIEW

This well-maintained multifamily asset comprises a 28,500 SF, 30-unit lowrise/garden-style building offering scale, stability, and modernized appeal. Originally constructed in 1975, the property has been thoughtfully renovated in 2024, positioning it as a turnkey investment with refreshed systems and finishes designed to meet today’s renter expectations while preserving durable construction fundamentals. The recent renovations enhance both operational efficiency and tenant appeal, allowing an investor to step into an asset that requires minimal near-term capital expenditure. The unit mix and building layout support efficient management and consistent leasing demand, while the property’s fully stabilized status underscores its proven performance as an income-producing asset. Currently operating at 100% occupancy, this property delivers immediate cash flow with no lease-up risk. Its size and configuration make it particularly attractive to Multifamily / Low-Rise/Garden investors seeking a stabilized hold with upside potential through continued professional management and long-term rent growth.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

30

PRICE/UNIT

$316,667

CAP RATE

5.66%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Palms of North Lauderdale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

54

LAND DETAILS

LAND ACRES

1.74 AC

LAND SF

75,794 SF

ZONING

RM-16, N Lauderdale

APN/PARCEL ID

49-41-02-AE-0010

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 Notice.