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Property Description

New Castle Apartments is a 48-unit apartment community consisting of 3 contiguous 2-story buildings centrally located in the City of Lauderdale Lakes, Florida. Built in 1972 and 1974, this 100% leased apartment community contains an attractive unit mix of 73% 2-bed/1-bath units and 27% 1-bed/1-bath units. At the asking price of $6,575,000 the asset offers a 6.53% cap rate on current income & expenses. Additionally, Freddie Mac financing is assumable at an attractive 3.4% interest rate. All units have been recently renovated with upgraded kitchens and baths. The spacious floor plans feature central a/c, pass-through kitchens, walk-in closets, spacious terraces, and ceramic tile flooring. Additionally, four laundry facilities onsite as an additional revenue source.

Features
2
3
2
: Split
: Central Air Conditioning
: Security system, Security lighting
: 14, 9
: Concrete block construction, Cbs construction, Slab construction
: Ceramic floor
: Built-up roof, Composition roll, Wood truss/rafter
: Public water
Address Map
US
FL
Broward County
Lauderdale Lakes
33311
New Castle Apartments
Additional Information
3560
4942-30-00-0062, 4942-30-00-0065, 4942-30-00-006
$87,000
2017
RM20
Coconut grove
Ponce de leon
Coral springs
1

3380 NW 30th Street

Lauderdale Lakes, Florida 33311

$6,575,000
Listing ID #A10436893
Basic Details
Property Type : Commercial Property
Prop Type/Type of Building : Apartments, Residential-multi-family
Listing Type : For Sale
Listing ID : A10436893
Price : $6,575,000
#Units : 48
View : Garden view,other view
Year Built : 1974
Status : Active
Agent info
Contact Agent
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