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| Daniel J. Cunningham |
MIRAMAR, FL – Marcus &
Millichap (NYSE: MMI), a leading commercial real estate investment services
firm with offices throughout the United States and Canada, announced the sale
of Miramar Gardens Apartments, a 25-unit apartment property located in Miramar,
Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale
office. The asset sold for $2,200,000 equating to $88,000 per unit.
Daniel J. Cunningham, an Associate Vice President, Investments, Derek R. Gibbs, an Associate Vice
President Investments, and Evan
Richardson, an associate, all in Marcus & Millichap’s Fort Lauderdale
office, had the exclusive listing to market the property on behalf of the
seller, a limited liability company from Hollywood, Fla.
Miramar Gardens Apartments
is a 25-unit apartment community consisting of a single, two-story apartment
building which was constructed in 1975.
The unit mix is comprised of one, three-bedroom/three-bathroom unit, one
three-bedroom/two-bathroom unit, eight two-bedroom/one-bathroom units, and 15
one-bedroom/one-bathroom units.
“Unwavering investor
interest and additional migration of capital from Miami-Dade in search of
higher yields continue to support a liquid investment market and place upward
pressure on values in Broward County,” says Cunningham.
“This property is 100
percent occupied and a majority of the units have received interior
renovations. The property’s historically high occupancy can be attributed to
the nearby ‘A-rated’ elementary, middle and highs schools, trade schools and
college campuses,” Gibbs adds.
Miramar Gardens Apartments
is ideally positioned less than a quarter-mile from State Road 7 and Hallandale
Beach Boulevard (SR 858), and is within a close proximity to area’s major
retail and schools. The property is
located at 6024 SW 26th Street.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Regional Manager, Fort
Lauderdale
(954) 245-3400
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