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Prospect Gardens - 5 Building Portfolio 146-148 NW 40th Ct 24 Unit Apartment Building $6,787,676 CAD ($282,820 CAD/Unit) 5.70% Cap Rate Fort Lauderdale, FL 33309



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.
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 | Apartment Style | Low-Rise |
| Price Per Unit | $282,820 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.98 AC |
| Cap Rate | 5.70% | Building Size | 18,056 SF |
| Gross Rent Multiplier | 10.14 | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/1972 |
| Property Subtype | Apartment | Parking Ratio | 1.94/1,000 SF |
| Zoning | RM-16 | ||
| 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
| Parcel Number | 49-42-22-08-2450 | Total Assessment | $1,732,934 CAD |
| Land Assessment | $140,017 CAD | Annual Taxes | $122,447 CAD ($6.78 CAD/SF) |
| Improvements Assessment | $1,592,918 CAD | Tax Year | 2026 |
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
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Prospect Gardens - 5 Building Portfolio | 146-148 NW 40th Ct
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