Property Listing No Longer Available for Sale

1200 SW 52nd Avenue, North Lauderdale, FL

Multi-family for Sale - $3,040,000 - 31,945 Sq. Ft.


Property Info

CIMLS#619601
Location
  1200 SW 52nd Avenue
  North Lauderdale FL 33068
UpdatedSeptember 9th, 2013
TypeMulti-family
Price$3,040,000
Building31,945 Sq. Ft.

Property Description

Offered in a bulk sale are 36 condominium units, which make up part of the 100-unit Silver Palms Condominium complex and which, are currently being operated as a rental community. The entire complex features four, two story, garden style buildings and a community clubhouse and the units offered for sale are a mix of one, two and three bedroom floor plans that will fit the needs of a variety of potential renters and future owners. Silver Palms Condominiums was originally constructed in 1975 and converted into condominiums in 2006. The community is located in the city of North Lauderdale just east of the intersection of State Road 7 (US 441) and SW 12th Road. Silver Palms Condominiums is a quiet, well maintained condominium community and the property's infill location and favorable unit mix combined to make this a strong investment opportunity as a rental property with a future potential condominium exit strategy.

Location Description:

The Silver Palms Condominium complex is located in the city of North Lauderdale in Broward County, Florida. The condominium complex is located just to the south of Margate and to the west of Fort Lauderdale and is just over ten miles from downtown Fort Lauderdale. The complex's infill location and close proximity to employment centers will continue to ensure high occupancy and stable rent growth. Silver Palms Condominiums is also conveniently located next to the Florida's Turnpike, which provides north/south access to all of South Florida and is less than 5 miles from Interstate 95 (I-95) which provides direct access to Fort Lauderdale International Airport (FLL) as well as Downtown Fort Lauderdale and area dinning, shopping, and entertainment.

Highlights:

>> Premier, infill location approximately 10 miles from Las Olas and downtown Fort Lauderdale

>> Less than 8 miles from South Florida Beaches

>> Well maintained units which are 100% occupied

>> Strong investment opportunity with excellent future potential upside

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