The property involved in the transaction is Mills Pond Apartments located at 1921-1941 Northwest 14th Avenue in Fort Lauderdale. The asset is a multifamily property comprising of two one-story contiguous fourplexes with one- and two-bedroom units. The sale price for this property was $1.5 million, and it is situated near Mills Pond Park.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,500,000
• Market: Fort Lauderdale
• Brokers: Austin Michels, Evan Kristol, Brandon Rex & Felipe Echarte - Marcus & Millichap

The sale of Mills Pond Apartments was facilitated by the brokerage firm Marcus & Millichap. The transaction was managed by brokers Austin Michels, Evan Kristol, Brandon Rex, and Felipe Echarte. The property had been under the seller's management for over 48 years, showcasing the value of seller financing for long-term owners looking to leverage equity while offering a strong return opportunity for potential buyers.