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Investment Highlights

  • All two-bedroom / one-bathroom apartments
  • Large open courtyards
  • Most roofs replaced in past six years, All interior and exterior electric panels replaced
  • Onsite property-owned laundry facilities
  • Central and wall unit air-conditioning, Ceramic tile flooring throughout
  • Lots of parking for residents and guests

Executive Summary

Prospect Gardens is a 24-unit apartment portfolio located in the city of Oakland Park, Florida. The community is comprised of four one-story fourplexes and a two-story,
eight-unit building, all located within a two-block radius. The buildings enjoy a premier location in Oakland Park, one of Broward County’s most rapidly improving and
highly connected urban communities. The surrounding area blends strong demographics, a growing employment base, and exceptional convenience to retail, healthcare,
and transportation positioning the property as an ideal opportunity for long term value and future development in a market experiencing sustained upward momentum.
The property is surrounded by vital lifestyle amenities and major medical providers, including Florida Medical Center, a 459 bed acute care hospital recognized for award winning cardiac and stroke care, located just minutes away. Additional comprehensive healthcare is provided at Holy Cross Healthplex Medical Plaza on North Dixie Highway, along with access to top regional institutions such as Holy Cross Hospital and Broward Health Imperial Point, all within a short driving radius, offering residents excellent medical convenience and choice. Families benefit from proximity to established public schools—Lloyd Estates Elementary, James S. Rickards Middle School, and Northeast High School—all serving the immediate neighborhood and contributing to its strong residential appeal. Daily needs are easily met with nearby supermarkets and pharmacies, including a full service CVS Pharmacy on West Oakland Park Boulevard, which offers extended hours, drive thru service, and convenient access for residents, supplemented by a wide selection of local and national grocery operators throughout the city.

Financial Summary (Actual - 2026)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $690,348 $37.04
Other Income $11,111 $0.60
Vacancy Loss $20,711 $1.11
Effective Gross Income $680,748 $36.52
Taxes $122,447 $6.57
Operating Expenses $171,696 $9.21
Total Expenses $294,143 $15.78
Net Operating Income $386,605 $20.74

Financial Summary (Actual - 2026)

Gross Rental Income (CAD)
Annual $690,348
Annual Per SF $37.04
Other Income (CAD)
Annual $11,111
Annual Per SF $0.60
Vacancy Loss (CAD)
Annual $20,711
Annual Per SF $1.11
Effective Gross Income (CAD)
Annual $680,748
Annual Per SF $36.52
Taxes (CAD)
Annual $122,447
Annual Per SF $6.57
Operating Expenses (CAD)
Annual $171,696
Annual Per SF $9.21
Total Expenses (CAD)
Annual $294,143
Annual Per SF $15.78
Net Operating Income (CAD)
Annual $386,605
Annual Per SF $20.74

Property Facts

Price $6,787,676 CAD
Price Per Unit $282,820 CAD
Sale Type Investment
Cap Rate 5.70%
Gross Rent Multiplier 10.14
No. Units 24
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.98 AC
Building Size 18,056 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1968/1972
Parking Ratio 1.94/1,000 SF
Zoning RM-16

Amenities

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 24 $2,653 CAD 752
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
49-42-22-08-2450
Land Assessment
$140,017 CAD
Improvements Assessment
$1,592,918 CAD
Total Assessment
$1,732,934 CAD
Annual Taxes
$122,447 CAD ($6.78 CAD/SF)
Tax Year
2026
  • Listing ID: 39874747

  • Date on Market: 2026-03-23

  • Last Updated:

  • Address: 146-148 NW 40th Ct, Fort Lauderdale, FL 33309

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