LOMAR NORTH APARTMENT PORTFOLIO

Joseph Thomas, Alec Demetriou and the Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Lomar North Multifamily Portfolio, which consists of eighteen separate folio numbers totaling 130-units in Hollywood, Florida.  The properties are located at 3518, 3604, 3610, 3612-3614 and 3700-3706 Taylor Street; 3500-3520, 3602, 3609, 3610, 3615-3617, 3616, 3700, 3705-3711 and 3716-3718 Polk Street; 300-302 North 35^th Avenue; 3833-3837 North Circle Drive; 3501 and 3705-3711 Tyler Street.  The entire portfolio is situated northeast of Presidential Circle, north of Hollywood Boulevard and just west of North 35^th Avenue.

The Lomar North Multifamily Portfolio was built between 1960-1972 and current ownership originally developed most of the properties. Additional properties from the same owner are being marketed for sale by the listing agents and those materials are available upon request.

SUBJECT PROPERTIES

The Lomar North Multifamily Portfolio consists of the following properties:

3700-3706 Taylor Street is a 4-unit, single-story multifamily property built in 1967 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,123 adjusted square feet, while the lot size is 14,887 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (1) one-bedroom | one-bathroom unit, and (3) two-bedroom | two-bathroom units. 

3612-3614 Taylor Street is a 2-unit, single-story multifamily property built in 1963 of concrete block and stucco, with a barrel tile and central air conditioning.  The building contains 2,602 adjusted square feet, while the lot size is 9,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (2) two-bedroom | two-bathrooms. 

3610 Taylor Street is a 6-unit, single-story multifamily property built in 1960 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,061 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units and (1) two-bedroom | two-bathroom unit. 

3604 Taylor Street is a 6-unit, single-story multifamily property built in 1961 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,061 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units and (1) two-bedroom | two-bathroom. 

3518 Taylor Street is a 6-unit, single-story multifamily property built in 1961 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,061 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathrooms units and (1) two-bedroom | two-bathroom. 

3705-3711 Polk Street is a 4-unit, two-story multifamily property built in 1970 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,648 adjusted square feet, while the lot size is 16,103 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (4) two-bedroom | two-bathroom units. 

3615-3617 Polk Street is a 2-unit, single-story multifamily property built in 1963 of concrete block and stucco, with a barrel tile/flat roof and central air conditioning.  The building contains 3,151 adjusted square feet, while the lot size is 9,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (2) two-bedroom | two-bathroom units. 

3609 Polk Street is a 6-unit, single-story multifamily property built in 1962 of concrete block and stucco, with a barrel tile roof and central air conditioning.  The building contains 5,061 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units and (1) two-bedroom | two-bathroom. 

300-302 North 35th Avenue is a 2-unit, single-story multifamily property built in 1961 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 2,119 adjusted square feet, while the lot size is 5,992 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (2) two-bedroom | two-bathroom units. 

3716-3718 Polk Street is a 2-unit, single-story multifamily property built in 1972 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 2,964 adjusted square feet, while the lot size is 6,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (2) three-bedroom | two-bathroom units. 

3700 Polk Street is an 18-unit, two-story multifamily property built in 1964 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 11,973 adjusted square feet, while the lot size is 18,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (2) studios, (8) one-bedroom | one-bathrooms, and (8) two-bedroom | one-bathroom units. 

3616 Polk Street is a 6-unit, single-story multifamily property built in 1962 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,061 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units and (1) two-bedroom | two-bathroom. 

3610 Polk Street is a 6-unit, single-story multifamily property built in 1962 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,065 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units, and (1) two-bedroom | two-bathroom. 

3602 Polk Street is a 6-unit, single-story multifamily property built in 1962 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 5,065 adjusted square feet, while the lot size is 12,000 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) one-bedroom | one-bathroom units, and (1) two-bedroom | two-bathroom. 

3500-3520 Polk Street is an 18-unit, three-story multifamily property built in 1963 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 15,195 adjusted square feet, while the lot size is 35,993 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (1) studio, (13) one-bedroom | one-bathrooms, (1) two-bedroom | one-bathroom and (3) two-bedroom | two-bathroom units. 

3833-3837 North Circle Drive is a 4-unit, single-story multifamily property built in 1969 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 5,094 adjusted square feet, while the lot size is 15,142 square feet, according to the Broward County Property Appraiser.  The unit mix consists (1) two-bedroom | one-bathroom and (3) two-bedroom | two-bathrooms. 

3705-3711 Tyler Street is a 4-unit, single-story multifamily property built in 1966 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 4,737 adjusted square feet, while the lot size is 14,408 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (1) one-bedroom | one-bathroom and (3) two-bedroom | two-bathrooms. 

3501 Tyler Street is a 28-unit, two-story multifamily property built in 1965 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 18,822 adjusted square feet, while the lot size is 29,994 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (5) studios, (19) one-bedroom | one-bathrooms, and (4) two-bedroom | one-bathrooms.

LOCATION

The Lomar North Multifamily Portfolio is located approximately one mile west of Interstate-95 just north of Hollywood Boulevard. The location offers a short walk to many local retailers and various points of interest such as Walgreens Pharmacy (0.2 miles), CVS (0.3 miles), Hollywood Police Department (0.4 miles), David Park Tennis Center (0.4 miles), Regions Bank (0.5 miles), Hollywood Hills Plaza (0.5 miles), Memorial Regional Hospital (0.6 miles) and Joe DiMaggio Children’s Hospital (0.6 miles). Additionally, just a short drive from the properties includes Walmart Supercenter (1.9 miles), Young Circle Park (2.4 miles), Dania Pointe (3.9 miles), Hollywood Beach (4.4 miles), Seminole Hard Rock Hotel & Casino (4.9 miles) and the Fort Lauderdale/Hollywood International Airport (6.7 miles).

Nearby educational facilities include Chaminade-Madonna College Preparatory School (1.2 miles), Hollywood Hills Elementary School (1.2 miles),  Orange Brook Elementary School (1.3 miles), South Broward High School (3.5 miles) and Olsen Middle School (4.1 miles).

SUMMARY

The Lomar North Multifamily Portfolio is being offered for sale free and clear of debt at $24,050,000 or $185,000 per unit. Additional properties from the same owner are also being marketed for sale by the listing agents and those materials are available upon request.

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**3700-3706 Taylor Street, 3612-3614 Taylor Street, 3705-3711 Polk Street, 3615-3617 Polk Street, 300-302 North 35th Avenue, 3705-3711 Tyler Street are separately metered for water and there is no charge to the owner.  All other tenants pay a flat water fee in addition to their rent.  Those monthly fees are $50 for studios (increasing to $55 in 2024 as leases renew), $50 for one bedrooms (increasing to $65 in 2024 as leases renew) and $75 for two and three bedrooms (increasing to $85 in 2024 as leases renew).