LOMAR WEST APARTMENTS

Joseph Thomas, Alec Demetriou and the Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Lomar West Multifamily Portfolio, which consists of four properties totaling 75-units in Hollywood, Florida.  The properties are located at 4933 Hollywood Boulevard, 5141 Hollywood Boulevard, 5420 Hollywood Boulevard and 5450 Hollywood Boulevard between Presidential Circle and State Road 7 (441).

The Lomar West Multifamily Portfolio was built between 1965-1969. 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 West Multifamily Portfolio of the following properties listed by location from east to west:

4933 Hollywood Boulevard is a 14-unit, two-story multifamily property built in 1969 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 11,001 adjusted square feet, while the lot size is 14,653 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (8) one-bedroom | one-bathrooms with an average in-place rent of $1,334 per month and (6) two-bedroom | one-and-a-half-bathrooms with an average in-place rent of $1,708 per month.

5141 Hollywood Boulevard is a 17-unit, two-story multifamily property built in 1965 of concrete block and stucco, with a shingle roof and central air conditioning.  The building contains 15,036 adjusted square feet, while the lot size is 19,975 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (9) one-bedroom | one-bathrooms with an average in-place rent of $1,449 per month, (4) two-bedroom | one-bathrooms with an average in-place rent of $1,744 per month and (4) two-bedroom | two-bathrooms with an average in-place rent of $1,688 per month.

5420 Hollywood Boulevard is a 22-unit, two-story multifamily property built in 1968 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 17,859 adjusted square feet, while the lot size is 27,008 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (13) one-bedroom | one-bathrooms with an average in-place rent of $1,388 per month, (5) two-bedroom | one-and-a-half-bathrooms with an average in-place rent of $1,645 per month and (4) two-bedroom | two-bathrooms with an average in-place rent of $1,719 per month.

5450 Hollywood Boulevard is a 22-unit, two-story multifamily property built in 1968 of concrete block and stucco, with a flat roof and central air conditioning.  The building contains 18,174 adjusted square feet, while the lot size is 27,007 square feet, according to the Broward County Property Appraiser.  The unit mix consists of (13) one-bedroom | one-bathrooms with an average in-place rent of $1,372 per month, (5) two-bedroom | one-and-a-half-bathrooms with an average in-place rent of $1,600 per month and (4) two-bedroom | two-bathrooms with an average in-place rent of $1,600 per month.

LOCATION
The Lomar West Multifamily Portfolio is located approximately two miles west of Interstate 95 and just east of State Road 7 (US-441). The location provides easy access to State Road 7, Florida’s Turnpike, and Interstate-95. Nearby retailers and local points of interest include Pet Supermarket (0.5 miles), Walmart Supercenter (0.6 miles), Pollo Tropical (0.8 miles), TD Bank (0.8 miles), CVS (1.1 Miles), Bank of America (1.2 miles), Walgreens Pharmacy (1.3 miles), Target (1.7 miles) and Publix Supermarket at Hollywood Mall. Other nearby points of interest just a short drive from the properties include Downtown Hollywood (3.2 miles), Seminol Hard Rock Hotel & Casino (3.7 miles) and Fort Lauderdale/Hollywood International Airport (7.9 miles).

Local educational facilities include Chaminade-Madonna College Preparatory School (0.6 miles), Sheridan Hills Elementary School (0.8 miles), Orange Brook Elementary School (1.1 miles), South Broward High School (4.6 miles), and Olsen Middle School (5.3 miles).

SUMMARY
The Lomar West Multifamily Portfolio is being offered for sale free and clear of debt at $13,875,000 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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**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).

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Virtual Tour – 5450 Hollywood Blvd Unit 104: https://my.matterport.com/show/?m=SoQedQFhAVs&mls=1

Virtual Tour – 5450 Hollywood Blvd Unit 108: https://my.matterport.com/show/?m=Uc6s2pRERtF&mls=1