Marcus & Millichap Sells 22-Unit Multifamily Property In Lake Park, Florida For $3.5M

Marcus & Millichap has sold Park Place, a 22-unit apartment property located at 200 Park Avenue in Lake Park, Florida. The sale price for this multifamily asset was $3.5 million, resulting in a per unit price of $159,091. The property spans 12,848 square feet, equating to a price per square foot of $272. Situated on 1.27 acres of land, this transaction exemplifies the ongoing buyer demand in the Florida market.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $3,500,000
• Number of Units: 22
• Price per Unit: $159,091
• Square Footage: 12,848
• Price per Square Foot: $272
• Address: 200 Park Avenue, Lake Park, Florida
• Market: Lake Park

The sale of Park Place in Lake Park, Florida was facilitated by brokers River Rhoads, Daniel Cunningham, Evan Richardson, and Dillon Majeski from Marcus & Millichap. This transaction underscores the value of professional representation and a dedicated marketing platform, both contributing factors to the successful sale of the property.