60-United Apartment Building in Lake Worth, FL Sold for $6 Million by Marcus & Millichap

 

The Floridian apartments, 4611 South Congress Avenue
 Lake Worth, FL

LAKE WORTH, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Floridian, a 60-unit apartment property located in Lake Worth, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $6,000,000.

 

Evan Richardson

Evan Richardson and Daniel J. Cunningham, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The brokers also secured and represented the buyer, a private investor.

  “By marketing the Floridian through our exclusive listing process we were able to generate several written offers and procure a cash buyer that closed just shy of the list price,” says Richardson

 The Floridian is located at 4611 S Congress Ave in Lake Worth, FL.  The property was built in 1964 of concrete block construction with painted stucco and fire-resistant concrete roofs.

 The asset consists of 57 one-bedroom/one-bathroom units and 3 studio units. The studios are approximately 450 rentable square feet while the one-bedroom/one-bathroom units are about 540 rentable square feet.

 

Daniel J. Cunningham

There is currently an on-site office that occupies one of the one-bedroom units. The property has on-site laundry facilities, an abundance of parking, and is near major area employment centers and economic drivers.

CONTACT:

 Ryan Nee

First Vice President and

District Manager

Fort Lauderdale, FL

(954) 245-3400