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Thursday, April 16, 2009

Sun Terrace Apartment Sale Announced


Fort Laudedale Beach, Florida - Today our Net Lease Properties information goes into the commercial real estate sector of multifamily apartment building investments. We wanted to report Marcus & Millichap Real Estate Investment Services has helped procure the sale of Sun Terrace Apartments. This Investment Property is a 16-unit apartment building in Fort Lauderdale Beach Florida. The leased Investment Property commanded a sales price of $1,000,000 representing $62,500 per unit. Given the current economic climate, this was a decent price for an Investment Property under 50 Units.

The seller of this Investment Property was a New York-based company. The Investment Property is located just one block from the Atlantic Ocean. This are is fantastic for apartment building Investment Properties and 1031 Exchange property solutions. This Investment Property has six studio apartments and 10 one-bedroom/one-bathroom units. Sun Terrace Apartments has the address of 619 Breakers Ave. in Fort Lauderdale, Florida.

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