Marcus & Millichap Sells 33-Unit Apartment Property In Fort Lauderdale For $6.2M

Marcus & Millichap recently facilitated the sale of a 33-unit apartment property in Fort Lauderdale, Florida. The property is located at 4100 Southwest 24th Court and covers an area of 2.22 acres. The sale was completed on 08/07/2023.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $6,200,000
• Number of Units: 33
• Price per Unit: $187,879
• Square Footage: 25,853
• Price per Square Foot: $240
• Address: 4100 Southwest 24th Court, Fort Lauderdale, Florida
• Market: Fort Lauderdale

The sale was brokered by Daniel Cunningham, Evan Richardson, River Rhoads, and Dillon Majeski, representing Marcus & Millichap. Mortgage brokerage services were provided by David Purisch and Steve Goldwyn from Marcus & Millichap Capital Corporation.

Despite the challenging market conditions, Marcus & Millichap successfully secured a low leverage loan at 6.5% interest. This resulted in an increased net operating income (NOI) and ultimately maximized the sales price of the property. The successful sale of this apartment property highlights the expertise and negotiation skills of Marcus & Millichap in the Fort Lauderdale market.