Skip to main content

Multifamily

Point Royale Apartments

2201 Northeast 36th Street, Lighthouse Point, FL 33064

Listing Price: $4,500,000

Cap Rate
4.80%
Number of Units
24
Price/Unit
$187,500
Price/Gross SF
$235.06
Gross SF
19,144

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale Point Royale Apartments, a 24-unit apartment building located in Lighthouse Point, Florida. PROPERTY Point Royale Apartments consists of one, two-story apartment building constructed in 1974 and of concrete block and painted stucco. The building is comprised of 19,144 square feet (BCPA) with a unit mix of (14) one-bedroom | one and a half bath apartments with an average in place rent of $1,096 and (10) two-bedroom | two-bathroom apartments with an average in place rent of $1,315. Units include central air-conditioning ceramic-tile or wood flooring and electric appliances. Other key features include a tropical gated courtyard with tiki hut, swimming pool and laundry rooms (owned by Seller) on each floor and 36 parking spaces. LOCATION Point Royale Apartments is situated a few blocks east of Federal Highway (US-1), just north of Sample Road. The location allows for easy access to all key destinations within Lighthouse Point and is a short drive to Boca Raton, Hillsboro Beach and Interstate 95. In 2018, Experian reported a population of 246,304 within a five-mile radius of the property, as-well-as an average household income of $114,097 within a one-mile radius. The property allows for convenient access to a wide variety of local employment, shopping, dining and entertainment destinations. The Venetian Isle Shopping Plaza is a Publix anchored center and includes T.J. Maxx, Staples, Petco and Orange Theory Fitness (0.2 miles). The Gateway Center caters to the Lighthouse Point residents and offers a number of local shops and restaurant options such as Bonefish Macs, Rocca Trattoria and Frosty Point (0.2 miles). Other major retailers in the area include Whole Foods Market (1.3 miles), HomeGoods and the Pompano Beach Citi Center, which offers a Lowe’s Home Improvement store and numerous national retailers (1.5 miles). The Lighthouse Point Marina and Lighthouse Point Yacht and Racket Club are located within a mile and a half radius of the subject property. The surrounding neighborhood is also home to numerous multimillion-dollar homes located along the intracoastal waterways. World famous Cap’s Place Island Restaurant (1.4 miles) is also home to Lighthouse Point and has been a landmark destination for over 85 years. Nearby education centers include Norcrest Elementary School (1.0 miles), Park Ridge Elementary School (2.5 miles), Deerfield Beach Middle School (2.7 miles) and Andrews High School (2.9 miles). SUMMARY Point Royale is being offered for sale at $4,500,000 or $187,500 per unit.

Investment Highlights

  • Excellent Location East of Federal Highway (US-1) in Lighthouse Point
  • Mix of (14) 1 Bed/1.5 Bath and (10) 2 Bed/2 Bath Units with Central A/C
  • Gated Courtyard with Tiki Hut, Swimming Pool & 36 Parking Spaces
  • Many Major Retailers & Restaurants within Walking Distance From Property

Exclusively Listed By

Listing Price: $4,500,000

Cap Rate
4.80%
Number of Units
24
Price/Unit
$187,500
Price/Gross SF
$235.06
Gross SF
19,144

Investment Highlights

  • Excellent Location East of Federal Highway (US-1) in Lighthouse Point
  • Mix of (14) 1 Bed/1.5 Bath and (10) 2 Bed/2 Bath Units with Central A/C
  • Gated Courtyard with Tiki Hut, Swimming Pool & 36 Parking Spaces
  • Many Major Retailers & Restaurants within Walking Distance From Property

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale Point Royale Apartments, a 24-unit apartment building located in Lighthouse Point, Florida. PROPERTY Point Royale Apartments consists of one, two-story apartment building constructed in 1974 and of concrete block and painted stucco. The building is comprised of 19,144 square feet (BCPA) with a unit mix of (14) one-bedroom | one and a half bath apartments with an average in place rent of $1,096 and (10) two-bedroom | two-bathroom apartments with an average in place rent of $1,315. Units include central air-conditioning ceramic-tile or wood flooring and electric appliances. Other key features include a tropical gated courtyard with tiki hut, swimming pool and laundry rooms (owned by Seller) on each floor and 36 parking spaces. LOCATION Point Royale Apartments is situated a few blocks east of Federal Highway (US-1), just north of Sample Road. The location allows for easy access to all key destinations within Lighthouse Point and is a short drive to Boca Raton, Hillsboro Beach and Interstate 95. In 2018, Experian reported a population of 246,304 within a five-mile radius of the property, as-well-as an average household income of $114,097 within a one-mile radius. The property allows for convenient access to a wide variety of local employment, shopping, dining and entertainment destinations. The Venetian Isle Shopping Plaza is a Publix anchored center and includes T.J. Maxx, Staples, Petco and Orange Theory Fitness (0.2 miles). The Gateway Center caters to the Lighthouse Point residents and offers a number of local shops and restaurant options such as Bonefish Macs, Rocca Trattoria and Frosty Point (0.2 miles). Other major retailers in the area include Whole Foods Market (1.3 miles), HomeGoods and the Pompano Beach Citi Center, which offers a Lowe’s Home Improvement store and numerous national retailers (1.5 miles). The Lighthouse Point Marina and Lighthouse Point Yacht and Racket Club are located within a mile and a half radius of the subject property. The surrounding neighborhood is also home to numerous multimillion-dollar homes located along the intracoastal waterways. World famous Cap’s Place Island Restaurant (1.4 miles) is also home to Lighthouse Point and has been a landmark destination for over 85 years. Nearby education centers include Norcrest Elementary School (1.0 miles), Park Ridge Elementary School (2.5 miles), Deerfield Beach Middle School (2.7 miles) and Andrews High School (2.9 miles). SUMMARY Point Royale is being offered for sale at $4,500,000 or $187,500 per unit.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower