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Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1974
Sq.Footage
N/A
New Castle Apartments is a 48-unit apartment community consisting of 3 contiguous 2-story buildings centrally located in the City of Lauderdale Lakes, Florida. Built in 1972 and 1974, this 100% leased apartment community contains an attractive unit mix of 73% 2-bed/1-bath units and 27% 1-bed/1-bath units. At the asking price of $6,575,000 the asset offers a 6.53% cap rate on current income & expenses. Additionally, Freddie Mac financing is assumable at an attractive 3.4% interest rate. All units have been recently renovated with upgraded kitchens and baths. The spacious floor plans feature central a/c, pass-through kitchens, walk-in closets, spacious terraces, and ceramic tile flooring. Additionally, four laundry facilities onsite as an additional revenue source.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Heating YN
YES
-
Heating
Central, Electric
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Block
-
Parking
Assigned, Guest
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
1.54
-
Property Type
Commercial Sale
Price
-
Sales Price
$6,575,000
-
Tax Amount
$87,000
-
Zoning
RM20
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Foundation Details
Slab
-
Ownership
Corporation
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Broward
Elementary School
Middle School
High School
Listing Courtesy of Julie Abolafia , Meridian Commercial
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AGENT
David Jean-Louis
Call David today to schedule a private showing.
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