Multifamily

Emerald Landings

7651 North Pine Island Road, Tamarac, FL 33321

Listing Price: $6,300,000

Cap Rate
4.74%
Number of Units
20
GRM
12.29
Occupancy
95.0%
Price/Unit
$315,000
Price/Gross SF
$234.03
Gross SF
26,920

Investment Overview

Millichap, as exclusive listing agents, are pleased to offer for sale Emerald Landings in Tamarac, Florida.

PROPERTY
Emerald Landings is a 20-unit luxury rental townhome community built in 2015-2016. The property is comprised of entirely of three-bedroom | two-and-a-half-bathroom townhomes with single car garages spread amongst three, two-story buildings. Overall, Emerald Landings encompasses 27,742 adjusted square feet and two acres of land.

Units feature carpeted and/or ceramic tile flooring throughout, electric appliances, washers and dryers, dishwashers, central air conditioning and single car garages. Each unit also has a small balcony off the master bedroom and a small open patio area that could be fenced to enhance privacy and achieve an additional rent premiums. All tenants pay their own electricity and water/sewer, while exterior light, irrigation are paid by the owner. Trash is built into the tax bill.

Emerald Landings features a walking path in the northeast corner of the property complete with a small gazebo. The property also borders Calico County Park to the west, which offers a playground, jungle gym and ample green space for children and families.

LOCATION
Emerald Landings is located on the Southwest corner of North Pine Island Road and NW 77th Street in Tamarac, Florida. The area consists primarily of single-family homes, condominiums and a few multifamily communities, with retail and commercial properties located along N Pine Island Drive and Commercial Boulevard. Emerald Landings also offers convenient access to the Sawgrass Expressway, University Drive, and Floridas Turnpike, allowing residents to reach a variety of local employment centers, shopping, dining and entertainment destinations in just a short drive.

Nearby points of interest include Tamarac City Hall (0.3 miles), the Tamarac Police and Fire Departments (0.4 miles), Walmart Neighborhood Market (0.8 miles) and Publix Supermarket at Tamarac Square (0.9 miles). The Tamarac Sports Complex is located just 0.7 miles to the west and features a hockey rink, tennis courts, basketball courts, covered playground, picnic tables, football fields and soccer fields, along with concession stand and restrooms. The Tamarac Sports complex was renovated and expanded in 2009. Emerald Landings is also conveniently located proximate to Woodmont Country Club (0.1 miles), Colony West Golf Club is (1.1 miles), University Hospital and Medical Center (1.8 miles), Tamarac Community Library (2.1 miles) and Starbucks (2.7 miles). Nearby educational facilities include JP Travella High School (1.4 miles), Riverside Elementary School (1.8 miles), Tamarac Elementary School (1.9 miles), Discovery Elementary School (2.3 miles) and Silverlakes Middle School (3.6 miles).

SUMMARY
Emerald Landings are being offered for sale at $6,300,000, free and clear of existing debt.

Investment Highlights

  • Four 3-Bedroom/2.5 Bathroom Floor Plans from 1,294 to 1,372 Square Feet Under A/C
  • Built in 2015-2016 to Luxury Condominium Standards
  • Walking Distance to Tamarac City Hall, Police & Fire Departments

Exclusively Listed By

Listing Price: $6,300,000

Cap Rate
4.74%
Number of Units
20
GRM
12.29
Occupancy
95.0%
Price/Unit
$315,000
Price/Gross SF
$234.03
Gross SF
26,920

Investment Highlights

  • Four 3-Bedroom/2.5 Bathroom Floor Plans from 1,294 to 1,372 Square Feet Under A/C
  • Built in 2015-2016 to Luxury Condominium Standards
  • Walking Distance to Tamarac City Hall, Police & Fire Departments

Investment Overview

Millichap, as exclusive listing agents, are pleased to offer for sale Emerald Landings in Tamarac, Florida.

PROPERTY
Emerald Landings is a 20-unit luxury rental townhome community built in 2015-2016. The property is comprised of entirely of three-bedroom | two-and-a-half-bathroom townhomes with single car garages spread amongst three, two-story buildings. Overall, Emerald Landings encompasses 27,742 adjusted square feet and two acres of land.

Units feature carpeted and/or ceramic tile flooring throughout, electric appliances, washers and dryers, dishwashers, central air conditioning and single car garages. Each unit also has a small balcony off the master bedroom and a small open patio area that could be fenced to enhance privacy and achieve an additional rent premiums. All tenants pay their own electricity and water/sewer, while exterior light, irrigation are paid by the owner. Trash is built into the tax bill.

Emerald Landings features a walking path in the northeast corner of the property complete with a small gazebo. The property also borders Calico County Park to the west, which offers a playground, jungle gym and ample green space for children and families.

LOCATION
Emerald Landings is located on the Southwest corner of North Pine Island Road and NW 77th Street in Tamarac, Florida. The area consists primarily of single-family homes, condominiums and a few multifamily communities, with retail and commercial properties located along N Pine Island Drive and Commercial Boulevard. Emerald Landings also offers convenient access to the Sawgrass Expressway, University Drive, and Floridas Turnpike, allowing residents to reach a variety of local employment centers, shopping, dining and entertainment destinations in just a short drive.

Nearby points of interest include Tamarac City Hall (0.3 miles), the Tamarac Police and Fire Departments (0.4 miles), Walmart Neighborhood Market (0.8 miles) and Publix Supermarket at Tamarac Square (0.9 miles). The Tamarac Sports Complex is located just 0.7 miles to the west and features a hockey rink, tennis courts, basketball courts, covered playground, picnic tables, football fields and soccer fields, along with concession stand and restrooms. The Tamarac Sports complex was renovated and expanded in 2009. Emerald Landings is also conveniently located proximate to Woodmont Country Club (0.1 miles), Colony West Golf Club is (1.1 miles), University Hospital and Medical Center (1.8 miles), Tamarac Community Library (2.1 miles) and Starbucks (2.7 miles). Nearby educational facilities include JP Travella High School (1.4 miles), Riverside Elementary School (1.8 miles), Tamarac Elementary School (1.9 miles), Discovery Elementary School (2.3 miles) and Silverlakes Middle School (3.6 miles).

SUMMARY
Emerald Landings are being offered for sale at $6,300,000, free and clear of existing debt.

Exclusively Listed By

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