Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale The Flats at Edgewood, a nine-unit apartment complex located at 3315-3331 Southwest 15th Avenue in Fort Lauderdale, Florida. SUBJECT PROPERTY The Flats at Edgewood is located at 3315-3331 Southwest 15th Avenue in the Edgewood neighborhood of Fort Lauderdale, Florida. The properties were built in 1951 of concrete block and stucco, total 6,620 adjusted square-feet and encompass a 37,258 square-foot lot, according to the Broward County Property Appraise¬r. The unit mix consists of (7) one-bedroom | one-bathroom apartments with an average in-place rent of $1,686 per month and (2) two-bedroom | one-bathroom apartments with an average in-place rent of $2,195 per month. Residents are responsible for their own electricity, while water, sewer and trash are included in the rent. Units feature ceramic tile or vinyl wood-plank flooring, updated kitchens and bathrooms featuring granite countertops, wood cabinets, tiled showers, black or stainless-steel electric appliances, individual hot water heaters and central air conditioning. Common area amenities include ample parking and on-site laundry facilities. LOCATION The Flats at Edgewood are situated along Southwest 15th Avenue, just south of Marina Mile Boulevard, east of Interstate 95 and north of Interstate 595. The location provides also provides easy access to Federal Highway (US-1), the Fort Lauderdale/Hollywood International Airport and Florida’s Turnpike. The surrounding area consists primarily of single-family homes, condominiums, and multifamily properties with an average household income of $92,797 within a 3-mile radius, according to Experian. The Flats at Edgewood are located just a short distance from many retailers and points of interest such as Southland Shopping Center – Winn Dixie Plaza (1.2 miles), Walgreens Pharmacy (1.5 miles), Broward Health Medical Center (2.5 miles), Whole Foods Market (2.6 miles), Tap 42 Craft Kitchen & Bar (2.7 miles) and Publix Supermarket at the Harbor Shops (3.2 miles). Additionally, the property is also just a short drive from Boatyard Seafood Restaurant (3.4 miles), the Fort Lauderdale/Hollywood International Airport (3.4 miles), Broward County Convention Center (3.6 miles), Downtown Fort Lauderdale (3.7 miles), Lauderdale Yacht Club (3.7 miles), Port Everglades (3.8 miles) and Dania Pointe (4.2 miles). Local nearby education centers include Saint Jerome Catholic School (1.2 miles), Croissant Park Elementary School (1.8 miles), Stranahan High School (3.2 miles) and New River Middle School (4.5 miles). SUMMARY The Flats at Edgewood are being offered for sale at $2,025,000 or $225,000 per unit.