Property Information

Take a look around it quickly becomes apparent the current professional management company has invested heavily at this seven unit site. From elaborate landscaping to pavers and dedicated patios, it has a resort feel and atmosphere with old world Florida charm. The free standing two bedroom, one bath house are unique for a seven unit property. This will always command a strong rent as there are very few like it in the submarket. Especially since it has a dedicated washer/dryer. With many rentals on the market that have decades old awning or jalousie windows, this property is more attractive with its newly installed impact windows. Insurance rates will be more favorable as well. If you study the recent sale comps, you will notice they do not have the same feel as this property. Tenants migrate toward buildings that feel like a home with a sense of uniqueness. This property will certainly impress and stand out amongst the others.

Location Overview

Located in the Riverside Park sub-market of Ft. Lauderdale, this area continues to benefit from gentrification. Over the past decade, the submarket has gone from a workforce housing area to a trendy location with the appeal of being close to the winding waterway and downtown Ft. Lauderdale. Property values have risen steadily for eight years and show no sign of slowing. Major investments in the area include the Brightline high speed rail system, expanded international airport, widening of the 595 interchange, and dozens of high profile developments which are listed in this offering memorandum. The population is increasing in Ft. Lauderdale annually and there are no more large parcels left for development. Nearly all new development is for class A non-competing properties. This increases demand for a B plus property like the subject.