Twin Lakes Villas | 4100 NW 16th Ave
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Twin Lakes Villas 4100 NW 16th Ave
37 Unit Apartment Building $16,300,905 CAD ($440,565 CAD/Unit) 4.76% Cap Rate Fort Lauderdale, FL 33309
Investment Highlights
- Rare Opportunity to Assume Current Loan of $6,571,000 at 4.2% Fixed Until 2032
- All Units are 2 or 3-Bedroom Floorplans, Two Story Townhouse Style with Private Courtyards or Front Porches, Individually Metered for Electric
- Situated on One of Oakland Park’s Famous Twin Lakes, Surrounded by Single Family Homes
- 100% Occupied, Unbelievably Located Asset, Featuring Waterfront Views from Each Unit
- New Investor Can Significantly Increase Income by Creating Charge Back Program for Water
- Interior Improvements Include – New Tile, Premium Kitchens & Bathrooms, New Central A/C, Washer & Dryer in Each Unit
Executive Summary
Twin Lakes Villas is a 37-unit, townhome investment opportunity in Oakland Park, (Broward County), Florida. The buildings were built between 1973 using reinforced concrete block construction with painted stucco exterior.
The investment opportunity is located at 4100 NW 16th Ave, north of Oakland Park Blvd, and just west of I-95. The neighborhood consists of a mix of mostly single-family homes in age and construction as the subject property. Twin Lakes is uniquely situated adjacent to Royal Palm Park, with direct access to the trail, tennis courts and playground.
The investment consists of (14) fourteen two bedroom-one and a half bath, (3) two bedroom-two bath, (6) three bedroom-one and a half bath, & (14) fourteen three bedroom-two bath apartments totaling approximately 37,980 RSF. All Units feature private courtyards or front porches and are individually metered for electric & water. Exterior capital improvements include resurfaced parking lot, painted exterior, new central a/c, updated pool & updated plumbing. Interior capital improvements include new tile, premium kitchens and bathrooms, new central a/c & washer/dryers in each unit. In addition to continuing to push the rents, a new investor can significantly increase the income by implementing a utility chargeback program with the tenants.
Twin Lakes Villas offers an investor the opportunity to purchase a well located, stabilized, turnkey asset where the current owner has made capital improvements that offer attractive in-place income with upside. Twin Lakes Villas is within proximity to major retailers, restaurants, and major transportation, including the I-95 Business Corridor & Fort Lauderdale Executive Airport.
The investment opportunity is located at 4100 NW 16th Ave, north of Oakland Park Blvd, and just west of I-95. The neighborhood consists of a mix of mostly single-family homes in age and construction as the subject property. Twin Lakes is uniquely situated adjacent to Royal Palm Park, with direct access to the trail, tennis courts and playground.
The investment consists of (14) fourteen two bedroom-one and a half bath, (3) two bedroom-two bath, (6) three bedroom-one and a half bath, & (14) fourteen three bedroom-two bath apartments totaling approximately 37,980 RSF. All Units feature private courtyards or front porches and are individually metered for electric & water. Exterior capital improvements include resurfaced parking lot, painted exterior, new central a/c, updated pool & updated plumbing. Interior capital improvements include new tile, premium kitchens and bathrooms, new central a/c & washer/dryers in each unit. In addition to continuing to push the rents, a new investor can significantly increase the income by implementing a utility chargeback program with the tenants.
Twin Lakes Villas offers an investor the opportunity to purchase a well located, stabilized, turnkey asset where the current owner has made capital improvements that offer attractive in-place income with upside. Twin Lakes Villas is within proximity to major retailers, restaurants, and major transportation, including the I-95 Business Corridor & Fort Lauderdale Executive Airport.
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Property Facts
| Price | $16,300,905 CAD | Building Class | C |
| Price Per Unit | $440,565 CAD | Lot Size | 2.19 AC |
| Sale Type | Investment | Building Size | 37,070 SF |
| Cap Rate | 4.76% | Average Occupancy | 100% |
| No. Units | 37 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.83/1,000 SF |
| Apartment Style | Townhome |
| Price | $16,300,905 CAD |
| Price Per Unit | $440,565 CAD |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 2.19 AC |
| Building Size | 37,070 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.83/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Patio
Site Amenities
- Courtyard
- Pool
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 14 | - | 1,020 |
| 2+2 | 3 | - | 1,020 |
| 3+1.5 | 6 | - | 1,032 |
| 3+2 | 14 | - | 1,032 |
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PROPERTY TAXES
| Parcel Number | 49-42-21-00-0100 | Improvements Assessment | $5,803,953 CAD |
| Land Assessment | $886,146 CAD | Total Assessment | $6,860,755 CAD |
PROPERTY TAXES
Parcel Number
49-42-21-00-0100
Land Assessment
$886,146 CAD
Improvements Assessment
$5,803,953 CAD
Total Assessment
$6,860,755 CAD
zoning
| Zoning Code | RM-16 (MULTI-FAMILY RESIDENTIAL) |
| RM-16 (MULTI-FAMILY RESIDENTIAL) |
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Twin Lakes Villas | 4100 NW 16th Ave
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