Skip to main content

Multifamily

Prospect Gardens

146 NW 40th Ct, Oakland Park, FL 33309

Listing Price: $4,900,000

Cap Rate
5.70%
Number of Units
24
GRM
8.10
Occupancy
100.0%
Price/Unit
$204,167
Price/Gross SF
$271.38
Gross SF
18,056

Investment Overview

Prospect Gardens is a 24-unit apartment portfolio located in the city of Oakland Park, Florida. The community is comprised of four one-story fourplexes and a two-story, eight-unit building, all located within a two-block radius. The buildings enjoy a premier location in Oakland Park, one of Broward County’s most rapidly improving and highly connected urban communities. The surrounding area blends strong demographics, a growing employment base, and exceptional convenience to retail, healthcare, and transportation positioning the property as an ideal opportunity for long term value and future development in a market experiencing sustained upward momentum.

The property is surrounded by vital lifestyle amenities and major medical providers, including Florida Medical Center, a 459 bed acute care hospital recognized for award winning cardiac and stroke care, located just minutes away. Additional comprehensive healthcare is provided at Holy Cross Healthplex Medical Plaza on North Dixie Highway, along with access to top regional institutions such as Holy Cross Hospital and Broward Health Imperial Point, all within a short driving radius, offering residents excellent medical convenience and choice. Families benefit from proximity to established public schools—Lloyd Estates Elementary, James S. Rickards Middle School, and Northeast High School—all serving the immediate neighborhood and contributing to its strong residential appeal. Daily needs are easily met with nearby supermarkets and pharmacies, including a full service CVS Pharmacy on West Oakland Park Boulevard, which offers extended hours, drive thru service, and convenient access for residents, supplemented by a wide selection of local and national grocery operators throughout the city.

Investment Highlights

  • Portfolio of five buildings with 100% two-bedroom floor plans
  • Significant upside through renovations
  • Potential for future redevelopment
  • 20%+ revenue increase with section 8
  • Close proximity to Downtown Fort Lauderdale
  • Minutes from Interstate 95 & Executive Airport
  • Oakland Park going through revitalization

Exclusively Listed By

Multifamily

Prospect Gardens

Listing Price: $4,900,000

Cap Rate
5.70%
Number of Units
24
GRM
8.10
Occupancy
100.0%
Price/Unit
$204,167
Price/Gross SF
$271.38
Gross SF
18,056

Investment Highlights

  • Portfolio of five buildings with 100% two-bedroom floor plans
  • Significant upside through renovations
  • Potential for future redevelopment
  • 20%+ revenue increase with section 8
  • Close proximity to Downtown Fort Lauderdale
  • Minutes from Interstate 95 & Executive Airport
  • Oakland Park going through revitalization

Investment Overview

Prospect Gardens is a 24-unit apartment portfolio located in the city of Oakland Park, Florida. The community is comprised of four one-story fourplexes and a two-story, eight-unit building, all located within a two-block radius. The buildings enjoy a premier location in Oakland Park, one of Broward County’s most rapidly improving and highly connected urban communities. The surrounding area blends strong demographics, a growing employment base, and exceptional convenience to retail, healthcare, and transportation positioning the property as an ideal opportunity for long term value and future development in a market experiencing sustained upward momentum. The property is surrounded by vital lifestyle amenities and major medical providers, including Florida Medical Center, a 459 bed acute care hospital recognized for award winning cardiac and stroke care, located just minutes away. Additional comprehensive healthcare is provided at Holy Cross Healthplex Medical Plaza on North Dixie Highway, along with access to top regional institutions such as Holy Cross Hospital and Broward Health Imperial Point, all within a short driving radius, offering residents excellent medical convenience and choice. Families benefit from proximity to established public schools—Lloyd Estates Elementary, James S. Rickards Middle School, and Northeast High School—all serving the immediate neighborhood and contributing to its strong residential appeal. Daily needs are easily met with nearby supermarkets and pharmacies, including a full service CVS Pharmacy on West Oakland Park Boulevard, which offers extended hours, drive thru service, and convenient access for residents, supplemented by a wide selection of local and national grocery operators throughout the city.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower