7561 NW 88th Ter - Apartments FOR SALE


Tamarac, FL 33321
$7,500,000 USD
786-443-3105
7561 NW 88th Ter, Tamarac, FL for Sale
$7,500,000 USD
Apartments - FOR SALE
1/22
null | 5.25% Cap Rate

7561 NW 88th Ter
Tamarac, FL 33321


HIGHLIGHTS

  • Rare opportunity to acquire a fully leased townhome community
  • Huge three-bedroom and two bathroom two-story apartments with attached garages
  • Future exit strategy of selling individual units

OVERVIEW

Emerald Landings — a premier investment opportunity to acquire a 20-unit luxury townhome community located in Tamarac, Florida. Built in 2015 with the original intent to sell as individual townhomes, all units were retained under unified ownership, and the property has since operated under a single folio. This structure offers a rare opportunity to acquire a boutique, luxury townhome community without any HOA obligations. Emerald Landings is currently 100% occupied and generates strong in-place income. Market rents average $3,063. With modest townhome upgrades, CBRE predicts $200 rent premiums through: • Backsplash • Nest thermostat • Flooring • Bathroom tile • Closet buildout Additionally, a future exit strategy exists through the potential to sell units individually once the for-sale market stabilizes. The property features: • Twenty oversized 3-bedroom, 2.5-bathroom townhomes • 1,346 SF of living space across two levels (excluding garage) • Private direct-access garages, terraces, balconies, and semi-private backyards • Ceramic tile flooring in living areas and carpeted bedrooms • In-unit washer/dryers, stainless steel appliances, double vanities, bathtubs and showers, and central A/C Strategically located on the west side of N Pine Island Road, just 1.3 miles east of the Sawgrass Expressway, Emerald Landings offers convenient access to major retail corridors including University Drive and Commercial Boulevard.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

20

PRICE/UNIT

$375,000

CAP RATE

5.25%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Emerald Landings

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2015

PARKING SPACES

50

LAND DETAILS

LAND ACRES

2 AC

LAND SF

86,959 SF

ZONING

B-3

APN/PARCEL ID

49-41-05-24-0010

ASK ABOUT THIS PROPERTY

Calum WeaverCBREMore Info
786-443-3105

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Calum WeaverCBREMore Info
786-443-3105

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