Newcastle Apartments
Closed3380-3400 NW 30th St, Lauderdale Lakes, FL 33311
Property type
Multifamily
Unit / Space count
48
Price
$6,950,000
Building size
36,450 sf
Rentable area
36,450 SF
Year built
1972
Year renovated
Occupancy
Zoning code
Lot size
1.54 Acres
Sold/status
Sold · Date unknown
Sale price
$6950000
Bedroom count
CAP
5.07%
Property description
New Castle Apartments Is A 48-Unit, Multifamily Investment Opportunity In Lauderdale Lakes, (Broward County), Florida. The Buildings Were Built In 1972 Using Reinforced Concrete Block Construction With Painted Stucco Exterior. The Investment Opportunity Is Located At 338-3400 NW 30 Street, On The South Side Of Oakland Park Blvd, And East Of N State Road 7. The Neighborhood Consists Of A Mix Of Multifamily & Single-Family Homes In Similar Age And Construction As The Subject Property. The Investment Consists Of (13) One-Bedroom, One Bath Apartments, (35) Two-Bedroom, One Bath Apartments Totaling Approximately 36,450 RSF. On Site Amenities Include Laundry & Ample Parking For Tenants & Their Guests. All Units Offer Central Air Conditioning & Water, Sewer, & Trash Are Included. New Castle Apartments Offers An Investor The Opportunity To Purchase A Stabilized Asset With Upside. Based on Comps in the Area, a New Owner Can Achieve Rental Increases of 11.52% On The One-Bedroom, One Bath Apartments & 15.7% Two-Bedroom, One Bath Apartments.
Property highlights
- Franklin Street exclusively represented the seller
- Sold within 1% of List Price, Submitted 15 offers to the sellers
- Achieved highest price per unit sale of similar properties in Lauderdale Lakes history
- 2.8 Miles To Publix Super Market, 2.2 Miles To I-95, 4.9 Miles To Promenade At Coconut Creek, 3.9 Miles To Lauderhill Mall, & 13.2
- Miles To Fort Lauderdale-Hollywood International Airport