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Seagull Apartments 999 W Prospect Rd 48 Unité Immeuble d’appartements 13 442 032 $ CAD (280 042 $ CAD/Unité) 6,50% Taux de capitalisation Oakland Park, FL 33309
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Faits saillants de l'investissement
- Significant value add upside
- Central location near I-95 and major employment centers
- All Two Bedrooms
Résumé de l'annonce
CBRE is pleased to present Seagull Apartments, a 48-unit, two-story multifamily community located at 999–1007 W Prospect Road in Fort Lauderdale, Florida. Built in 1973 with durable concrete construction, the Property consists of three buildings on nearly two acres and features 100% two-bedroom, one-bath floor plans, appealing to workforce housing demand in a high-barrier submarket.
The Property is 95.8% occupied and currently achieves average rents of approximately $1,750, which remain below market. CBRE projects that targeted interior upgrades can generate rent increases of roughly $350 per unit, pushing post-renovation rents to approximately $2,100. With limited supply of attainable housing and strong renter demand, Seagull Apartments is well positioned to capture meaningful upside through a focused value-add program.
Ownership has completed several capital improvements, including impact windows on all buildings, a remodeled pool and amenity area, exterior repainting, parking resurfacing, new signage, and multiple HVAC replacements. Select unit upgrades have been completed, and all units include granite countertops, wood-style cabinetry, upgraded bath finishes, and central air.
The community offers 84 off-street parking spaces (1.75 per unit), and the 10-year building recertification is current. Strategically located just west of I 95 with exposure to nearly 24,000 vehicles per day, the Property lies within close proximity to Wilton Manors and Downtown Fort Lauderdale. The surrounding area is supported by strong demographics, including an average household income of $84,000 and more than 292,000 jobs within five miles.
- 48 unit, two story community across three concrete block buildings
- 100% two bedroom / one bath floor plans
- Built 1973, situated on ~2 acres
- 95.8% occupied
- In place rents $1,750
- Clear value add story: interior upgrades can support ~$350 premiums, with post renovation rents projected around $2,100
- Impact windows
- Remodeled pool (resurfaced, new gutters, coping, tile)
- New perimeter fencing around pool/amenity area
- New tiki hut roof
- Full exterior repaint
- Roof maintenance
- Resurfaced parking lot
- New monument signage
- 18 new A/C units
The Property is 95.8% occupied and currently achieves average rents of approximately $1,750, which remain below market. CBRE projects that targeted interior upgrades can generate rent increases of roughly $350 per unit, pushing post-renovation rents to approximately $2,100. With limited supply of attainable housing and strong renter demand, Seagull Apartments is well positioned to capture meaningful upside through a focused value-add program.
Ownership has completed several capital improvements, including impact windows on all buildings, a remodeled pool and amenity area, exterior repainting, parking resurfacing, new signage, and multiple HVAC replacements. Select unit upgrades have been completed, and all units include granite countertops, wood-style cabinetry, upgraded bath finishes, and central air.
The community offers 84 off-street parking spaces (1.75 per unit), and the 10-year building recertification is current. Strategically located just west of I 95 with exposure to nearly 24,000 vehicles per day, the Property lies within close proximity to Wilton Manors and Downtown Fort Lauderdale. The surrounding area is supported by strong demographics, including an average household income of $84,000 and more than 292,000 jobs within five miles.
- 48 unit, two story community across three concrete block buildings
- 100% two bedroom / one bath floor plans
- Built 1973, situated on ~2 acres
- 95.8% occupied
- In place rents $1,750
- Clear value add story: interior upgrades can support ~$350 premiums, with post renovation rents projected around $2,100
- Impact windows
- Remodeled pool (resurfaced, new gutters, coping, tile)
- New perimeter fencing around pool/amenity area
- New tiki hut roof
- Full exterior repaint
- Roof maintenance
- Resurfaced parking lot
- New monument signage
- 18 new A/C units
Faits sur la propriété
| Prix | 13 442 032 $ CAD | Classe d’immeuble | C |
| Prix par unité | 280 042 $ CAD | Taille du lot | 1,33 AC |
| Type de vente | Investissement | Taille du bâtiment | 37 344 pi² |
| Taux de capitalisation | 6,50% | Occupation moyenne | 96% |
| Nombre d’unités | 48 | Nombre d’étages | 2 |
| Type de propriété | Immeuble residentiel | Année de construction | 1974 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 2,25/1 000 pi² |
| Style d’appartement | De faible hauteur | Zone de développement économique |
Oui
|
| Zonage | RM-16 - Residential Multi-Family | ||
| Prix | 13 442 032 $ CAD |
| Prix par unité | 280 042 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,50% |
| Nombre d’unités | 48 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 1,33 AC |
| Taille du bâtiment | 37 344 pi² |
| Occupation moyenne | 96% |
| Nombre d’étages | 2 |
| Année de construction | 1974 |
| Ratio de stationnement | 2,25/1 000 pi² |
| Zone de développement économique |
Oui |
| Zonage | RM-16 - Residential Multi-Family |
Commodités
Commodités des unités
- Climatisation
- Micro-ondes
- Cuisine
- Réfrigérateur
- Four
- Fourchette
- Bain/Douche
- Sans fumée
Commodités du site
- Installations de lessive
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 2+1 | 48 | 2 413 $ CAD | 778 |
1 1
Moyennement praticable à pied
70/100
Exceptionnellement facile d’accès en voiture
100/100
Transports en commun limités
30/100
Plutôt praticable en vélo
50/100
Impôts fonciers
| Numéro de lot | 49-42-16-04-2160 | Évaluation des bâtiments | 6 147 462 $ CAD |
| Évaluation du terrain | 399 814 $ CAD | Évaluation totale | 6 547 276 $ CAD |
Impôts fonciers
Numéro de lot
49-42-16-04-2160
Évaluation du terrain
399 814 $ CAD
Évaluation des bâtiments
6 147 462 $ CAD
Évaluation totale
6 547 276 $ CAD
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Seagull Apartments | 999 W Prospect Rd
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