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Multifamily

Golden Palms Apartments

6000 NW 7th St, Margate, FL 33063

Listing Price: $3,600,000

Cap Rate
5.28%
Number of Units
24
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$251.05
Gross SF
14,340

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market the Sunset Apartments, a 24-unit garden-style apartment community located in the city of Margate, Florida. Situated on 0.59 acres along State Road 7, one of the city's major north/south thoroughfares, The Sunset Apartments is in a high-density neighborhood predominantly consisting of predominantly retail superstores, restaurants and bars for residents to enjoy. The two-story residential property was constructed in 1974 of concrete block with painted stucco exterior. The property has a brand new roof and contains 24 units comprised of four (4) two-bedroom / two-bathroom units with 885 rentable square feet, eight one-bedroom/ one-bathroom units with 600 rentable square feet, and 12 studios with 500 rentable square feet. Each apartment features wood kitchen cabinets, granite counter tops, ceramic flooring throughout the unit, and wall unit air conditioners. The property features a brand new roof, painted exterior, mature landscaping, and updated all of the electrical panels in each of the units.

Investment Highlights

  • Brand New Roof
  • Tile Flooring Throughout
  • Walking Distance to David Park and George Mudd Playground
  • Less Than One Mile From Florida's Turnpike

Exclusively Listed By

Financing By

Multifamily

Golden Palms Apartments

Listing Price: $3,600,000

Cap Rate
5.28%
Number of Units
24
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$251.05
Gross SF
14,340

Investment Highlights

  • Brand New Roof
  • Tile Flooring Throughout
  • Walking Distance to David Park and George Mudd Playground
  • Less Than One Mile From Florida's Turnpike

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market the Sunset Apartments, a 24-unit garden-style apartment community located in the city of Margate, Florida. Situated on 0.59 acres along State Road 7, one of the city's major north/south thoroughfares, The Sunset Apartments is in a high-density neighborhood predominantly consisting of predominantly retail superstores, restaurants and bars for residents to enjoy. The two-story residential property was constructed in 1974 of concrete block with painted stucco exterior. The property has a brand new roof and contains 24 units comprised of four (4) two-bedroom / two-bathroom units with 885 rentable square feet, eight one-bedroom/ one-bathroom units with 600 rentable square feet, and 12 studios with 500 rentable square feet. Each apartment features wood kitchen cabinets, granite counter tops, ceramic flooring throughout the unit, and wall unit air conditioners. The property features a brand new roof, painted exterior, mature landscaping, and updated all of the electrical panels in each of the units.

Exclusively Listed By

Financing By

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