Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sunview Apartments, an eight-unit apartment property located in Fort Lauderdale, Florida. The asset sold for $1,350,000.
“Sunview is an excellent value-add opportunity to significantly increase in place rents through interior and exterior renovations,” said Austin Michels, associate. “The seller, an over 40-year owner and operator, maintained rents at approximately fifty percent of the current market.”
Michels, Evan P. Kristol, and Brandon J. Rex, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a Florida-based private client. The buyer, 19350-1950 LLC, was also procured by Michels, Kristol, and Rex.
Sunview Apartments is located at 1930 SW 44th Ave in the Broadview Park neighborhood and near Florida’s Turnpike and Interstate 595. Built in 1970, the apartment building is comprised of two contiguous, one-story fourplexes on a 0.39-acre site. The apartments feature a unit mix of four one-bedroom and four two-bedroom and one-bathroom apartments.
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
