THE FLATS AT THE PRESERVE

Joseph Thomas, AJ Stanford and the Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale The Flats at The Preserve, a 93-unit multifamily portfolio located in Pompano Beach, Florida.  The Flats at The Preserve (93 units) are located just southeast of Interstate 95 and Sample Road in Pompano Beach, FL.

SUBJECT PROPERTIES

The Flats at The Preserve are comprised of 15 folio numbers totaling 93 units located along Northeast 1st Avenue and Northeast 31st Court in Pompano Beach, Florida.  The one and two-story buildings were constructed between 1967-1974 of concrete block and stucco, with a variety of shingle and flat roofs, as well as central air conditioning and wall units.  The buildings total 64,309 adjusted square feet, while the lots total 176,126 square feet of land (4.04 acres), according to the Broward County Property Appraiser. The unit mix consists of (66) one-bedroom | one-bathrooms with an average in-place rent of $1,345 per month, (19) two-bedroom | one-bathrooms with an average in-place rent of $1,587 per month and (8) two-bedroom | two-bathrooms with an average in-place rent of $1,638 per month. 

LOCATION

The Flats at The Preserve are located east of Interstate 95 and west of Dixie Highway. Nearby points of interest (*distances are approximate) include Crystal Lake Sand Pine Preserve (0.4 miles), Wells Fargo Bank (0.7 miles), Broward Health North (0.9 miles), Bealls Outlet Store (1.7 miles), Pompano Citi Centre (1.7 miles), Outback Steakhouse (1.9 miles), Walgreens Pharmacy (1.9 miles), and CVS (1.9 miles). Additionally, just a short drive from the properties include TD Bank (2.0 miles), Publix Supermarket at Venetian Isle (2.1 miles), Lighthouse Point City Library (2.3 miles), Pompano Beach Airpark (2.9 miles) and Pompano Community Park (3.7 miles).

Nearby educational facilities include Palmview Elementary School (0.4 miles), Crystal Lake Middle School (0.6 miles), Somerset Pines Academy (0.8 miles) and Deerfield Beach High School (2.4 miles).

SUMMARY

The Flats at The Preserve are being offered for sale free and clear of debt at $13,950,000 or $150,000 per unit.