Marcus & Millichap Sells Lucerne Apartments In Lake Worth For $2.85M

The Lucerne Apartments, a 14-unit multifamily property located at 514 Lake Avenue in Lake Worth, Florida, has been sold for $2.85 million. The property's downtown location and strong demand for well-located assets contributed to the high buyer interest. This transaction also involved $1.98 million acquisition financing arranged by Marcus & Millichap Capital Corporation.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,850,000
• Address: 514 Lake Avenue, Lake Worth, Florida
• Market: Lake Worth
• Units: 14
• Price per Unit: $203,571
• Brokers: Daniel Cunningham, Evan Richardson, River Rhoads & Dillon Majeski - Marcus & Millichap
• Mortgage Broker: Steve Goldwyn & David Purisch - Marcus & Millichap Capital Corporation

The sale of the Lucerne Apartments was facilitated by Marcus & Millichap, who represented the seller in the deal. The transaction showcases the expertise and reputation of both the brokers, Daniel Cunningham, Evan Richardson, River Rhoads, and Dillon Majeski, as well as the mortgage brokers, Steve Goldwyn and David Purisch, from Marcus & Millichap Capital Corporation.