Rustic Manor Apartments
Closed50 SE 12th St, Fort Lauderdale, FL 33316
Property type
Multifamily
Unit / Space count
24
Price
$4,600,000
Building size
10,173 sf
Rentable area
10,173 SF
Year built
1973
Year renovated
Occupancy
Zoning code
Lot size
0.49 Acres
Sold/status
Sold · Date unknown
Sale price
$4600000
Bedroom count
Property description
The Rustic Manor Apartments is a 24-unit multifamily community located in the heart of the Poinciana Park submarket in Fort Lauderdale, Florida, which is in Broward County. The subject property was built in 1973 using reinforced concrete block construction with painted stucco exterior and is situated on 0.49 acres of land. The property is located on the west side of SE 12th St and is just a block from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location, there are many luxurious homes within the neighborhood. The asset is conveniently located West of S Federal Hwy, North of Marina Mile Blvd, South of Davie Blvd, and directly east of I-95. Within minutes of driving, you can access the world-famous Fort Lauderdale Beach, renowned Las Olas Blvd and the shops and restaurants of the Galleria Mall. The investment opportunity consists of a highly attractive unit mix of (23) one-bedroom & one-bathroom, and (1) two-bedroom & one-bathroom totaling approximately 10,141 RSF. The property boasts amenities such as ample parking, sparkling pool, on-site laundry, electric door access and fully furnished units. The Rustic Manor offers an investor the opportunity to purchase an unbelievably located property with no deferred maintenance in the heart of one of the hottest markets in Florida. By implementing either a short term or long term rental plan, the new owner will eb able to capitalize on the strong rents and desirability of downtown Ft. Lauderdale.
Property highlights
- Sold ALL CASH In Compressed Timeframe And Exclusively Represented Both The Buyer And Seller
- Navigated Through A Quick Due Diligence Period And Closed Within A Month Of Going Under Contract
- Negotiated Mutually Beneficial Management Agreement Between The Buyer And Seller
- Fully Renovated And Turnkey Asset With The Ability To Run Both Traditional Rentals And Short-Term Rentals
- Property Features (23) 1 Bed 1 Bath Units And (1) 2 Bed 1 Bath
- Impeccably Located Asset In The Heart Of Fort Lauderdale, Perfectly Situated A Few Blocks West of US-1 And Walking Distance to Downtown Fort Lauderdale Surrounded By Major Proposed And Under Construction Developments