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| Viewmax Apartments, 2011 NW 55th Avenue, Lauderhill, FL |
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| Daniel J. Cunningham |
LAUDERHILL,
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 Viewmax Apartments,
a 88-unit apartment property located in Lauderhill, Florida, according to Ryan
Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for
$7,500,000 equating to $85,227 per unit.
“The
property has experienced high historical occupancy in large part because of
Lauderhill’s infill location, high demographic density, and proximity to West
Oakland Park Boulevard and Northwest 19th Street.
The asset has averaged near
100 percent occupancy over the past several years,” says Daniel J. Cunningham, a vice president investments in Marcus &
Millichap’s Fort Lauderdale office.
Cunningham
along with Derek R. Gibbs, vice
presidents investments, and Evan
Richardson, associate, also 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 North Bay Village, Florida. The buyer was a limited liability company
from Plantation, Florida.
Viewmax
Apartments is a mid-rise, four-story, three-building, catwalk-style apartment
complex. The property consists of 88 spacious, two-bedroom/two-bathroom units
and has two elevators, on-site parking, laundry facilities on each floor and an
on-site management office.
Located at 2011 NW 55th Avenue, the community sits
on a 2.86-acre lot surrounded by condominiums of like age and composition and
several entertainment venues. East of the community is the City of Lauderhill
Aquatic Center, Mullin Park, and the Boys and Girls Club of Lauderhill.
Immediately west is a Lauderhill Fire-Rescue substation and Royal Palm
Elementary School.
For a complete copy of the company’s
news release, please contact:
Ryan Nee
Vice
President / Regional Manager, Fort Lauderdale
(954)
245-3400
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