Lauderdale East Multifamily Portfolio

Highlights

• Value Add Multifamily Opportunity in Fort Lauderdale
• Priced +/- 18% Below Comp Set on a Per Unit Basis
• Hurricane Impact Windows - Renovated Kitchens and Flooring
• New Security Cameras Throughout Portfolio
• Landscaping Well Service - Central Air Conditioning
• Croissant Park Apartments
• New Exterior Painting Completed
• RMM-25 Residential Multifamily Midrise/Medium High Density Zoning
• Unit Mix | 1/1 (10), 2/1 (2)
• Riverside Flats
• New Exterior Painting Completed
• Upgraded Electrical Service
• In Unit Washer/Dryers
• RD-15 Residential Single Family and Duplex/Medium Density
• Unit Mix | 0/1 (2), 1/1 (15), 2/1 (1)

Description

Riverside Flats is an eighteen unit multifamily opportunity opportunity in one of the most desirable markets in the country. The subject property is nestled in between the North Fork and South Forks of the New River placing this asset a short distance to the World Famous Riverfront and Riverwalk areas of Downtown Fort Lauderdale. Due to the heavily desired location, Riverside Flats experiences very high historical occupancy rates and rapid rent growth. Riverside Flats saw an entire renovation that included all new flooring, windows, electrical, kitchens and more.

Croissant Park Apartments is a twelve unit Multifamily opportunity in beautiful Fort Lauderdale, Florida. This property is well located and features convenient access to Downtown Fort Lauderdale, Fort Lauderdale Beach, and the Fort Lauderdale-Hollywood International Airport. Demand for multifamily units like this provides an incredibly high floor or residential income real estate with an ability to execute a high end renovation strategy. Croissant Park Apartments has seen renovations that include new flooring, new kitchens, impact windows and doors to name a few.

The rental market in Fort Lauderdale continues to grow at a pace with very few rivals nationally. People are flocking to this city of the future at a remarkable pace. The perfect, "Live, Work, Play" situation as more and more professionals take advantage of the vibrant city of Fort Lauderdale and all of it's offerings. The city has quickly emerged as a tech hub with many firms coming to and calling the area home. While rents for Class A product continue to increase to historical highs, demand for Class B and C remains stronger than ever as the area's more affordable tenant option.

Riverside Flats is in the city of Fort Lauderdale, FL. Roughly 200,000 people call the city home. Flagler Village, Riverwalk, Riverfront, Fat City, and Progresso Village areas are reshaping the city core. There are millions of square feet at some phase of the construction timeline including an abundance of residential class A apartments and multiple retail centers. Fort Lauderdale is a premier market and looked at globally as a city on the rise.

Riverside Park is known for old growth trees and convenience of the connectivity it has to Downtown and Riverfront areas. The famous "Riverside Market" really kick started the craft beer craze in Fort Lauderdale and is walking distance to the property. Riverside Flats enjoys a historically high occupancy levels due to the demand for this type of residential rentals so close to the downtown core of Fort Lauderdale.

Croissant Park Apartments is an incredibly well located multifamily opportunity along the US1 corridor. Located in Fort Lauderdale just south of the world famous Las Olas Blvd and the burgeoning River Walk area. Affectionately called the "Venice of America", Fort Lauderdale is home to 165 miles of inland waterways. There simply isn't a greater collection of multi-million dollar yachts in the world hence the moniker, "Yacht Capital of the World".

Fort Lauderdale features some of the world's premier boating events; including the Fort Lauderdale International Boat Show. The show is widely accepted as the largest boat show in the world. The Fort Lauderdale-Hollywood International Airport is a 5 minute ride to the south of Croissant Park Apartments and 10 minutes southeast of Riverside Flats. Port Everglades which generates more than $29 Billion worth of business annually directly impacts 11,000 jobs. There are various maritime industries including ship building, repairs, parts manufacturing, and retail outlets that will provide quality jobs for the residents of Croissant Park Apartments and Riverside Flats. There are various corporate headquarters within a short drive to the asset including but not limited to AutoNation, American Express, Marriott International, SEACOR Holdings, Spirit Airlines, Chewy.com, & Citrix, to name a few.

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