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Multifamily

Tuscany Villas

4702 SW 33rd Ave, Fort Lauderdale, FL 33312

Listing Price: $2,800,000

Cap Rate
4.38%
Number of Units
14
Occupancy
95.0%
Price/Unit
$200,000

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, Tuscany Villas (herein referred to as “The Property”), a 14-unit rental community located in the highly desirable Dania Beach submarket of Dania, Florida. This offering affords an investor the opportunity to immediately raise rents in an already stabilized and cash flowing rental property or to further renovate units to increase rental premiums and overall return. Tuscany Villas was constructed in 1954 and 1961 and consists of seven duplexes situated on a large 0.99 - acre lot with an ample amount of parking spaces and plenty of open space. Aside from renovating units to increase rents, a new owner could repurpose some of the unused space on the expansive lot into tenant amenities, that would only increase the current appeal to renters and future potential for the property. The Property has an excellent unit mix consisting of one three-bedroom, 12 two-bedroom and one one-bedroom and one-bathroom floor plans. The Property features excellent proximity to Interstate-95, which provides access to all of South Florida. The Property is well maintained and features a large average unit size of over 700 square feet, with many units featuring washer/dryer hookups in unit and large living rooms. The Property is located just North of Griffin Road, which is one of the major thoroughfares in Broward County, lined with shopping, entertainment, and employment opportunities, which further enhances the perceived value to current and future residents. Units feature central air conditioning and are appointed with tile floors, with many units having black and stainless-steel appliances. The Property also has had all the roofs recently replaced, new electrical disconnects, and the installation of double pane, high impact glass windows. Tuscany Villas offers an excellent community feel supported by the expansive plot of land, ample parking and landscaping surrounding the property. Furthermore, in addition to being nearly equidistant from Miami and West Palm Beach, the property features excellent proximity to Fort Lauderdale another major employment hub of South Florida. The location of Tuscany Villas affords an investor the opportunity to attract residents that work in any of the major metropolitan areas of South Florida and further harness the exceptionally strong rental growth that South Florida is experiencing.

Investment Highlights

  • Highly Sought-After Dania Beach Submarket
  • Centrally Located in Broward County
  • Close Proximity to Hard Rock Hotel & Casino
  • All Roofs Recently Replaced
  • Double Pane Hurricane Impact Windows
  • Well Maintained Property with Significant Upside in Rents
  • Over 90 Percent Two- and Three-Bedroom Floor Plans

Exclusively Listed By

Financing By

Multifamily

Tuscany Villas

Listing Price: $2,800,000

Cap Rate
4.38%
Number of Units
14
Occupancy
95.0%
Price/Unit
$200,000

Investment Highlights

  • Highly Sought-After Dania Beach Submarket
  • Centrally Located in Broward County
  • Close Proximity to Hard Rock Hotel & Casino
  • All Roofs Recently Replaced
  • Double Pane Hurricane Impact Windows
  • Well Maintained Property with Significant Upside in Rents
  • Over 90 Percent Two- and Three-Bedroom Floor Plans

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, Tuscany Villas (herein referred to as “The Property”), a 14-unit rental community located in the highly desirable Dania Beach submarket of Dania, Florida. This offering affords an investor the opportunity to immediately raise rents in an already stabilized and cash flowing rental property or to further renovate units to increase rental premiums and overall return. Tuscany Villas was constructed in 1954 and 1961 and consists of seven duplexes situated on a large 0.99 - acre lot with an ample amount of parking spaces and plenty of open space. Aside from renovating units to increase rents, a new owner could repurpose some of the unused space on the expansive lot into tenant amenities, that would only increase the current appeal to renters and future potential for the property. The Property has an excellent unit mix consisting of one three-bedroom, 12 two-bedroom and one one-bedroom and one-bathroom floor plans. The Property features excellent proximity to Interstate-95, which provides access to all of South Florida. The Property is well maintained and features a large average unit size of over 700 square feet, with many units featuring washer/dryer hookups in unit and large living rooms. The Property is located just North of Griffin Road, which is one of the major thoroughfares in Broward County, lined with shopping, entertainment, and employment opportunities, which further enhances the perceived value to current and future residents. Units feature central air conditioning and are appointed with tile floors, with many units having black and stainless-steel appliances. The Property also has had all the roofs recently replaced, new electrical disconnects, and the installation of double pane, high impact glass windows. Tuscany Villas offers an excellent community feel supported by the expansive plot of land, ample parking and landscaping surrounding the property. Furthermore, in addition to being nearly equidistant from Miami and West Palm Beach, the property features excellent proximity to Fort Lauderdale another major employment hub of South Florida. The location of Tuscany Villas affords an investor the opportunity to attract residents that work in any of the major metropolitan areas of South Florida and further harness the exceptionally strong rental growth that South Florida is experiencing.

Exclusively Listed By

Financing By

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