Miramar Apartments
Multifamily | 6.00% CAP | 15 Units
Marketing description
Miramar Apartments present a compelling multifamily investment opportunity in Miramar, featuring a well-maintained 11,892-square-foot building comprised of 15 residential units. Originally constructed in 1973, the property reflects durable construction and a proven operational history, offering investors a stable, income-producing asset within a consistently performing rental submarket.
The property is currently 100% occupied, providing immediate in-place cash flow and eliminating lease-up risk for a new owner. This full occupancy underscores strong tenant demand and effective management, while also presenting potential upside through strategic rent optimization or operational efficiencies. The unit mix and overall scale are ideal for investors seeking a manageable, mid-size asset with steady performance.
With its established tenancy and solid fundamentals, Miramar Apartments offer both stability and future value-add potential. Investors can benefit from the existing income stream while exploring opportunities to enhance returns through interior upgrades, expense management, or repositioning strategies. This combination of current performance and forward-looking potential makes the property a strong addition to any multifamily portfolio.
Investment highlights
- Rare Opportunity To Acquire Well-Maintained, Turnkey Multifamily Asset In The Miramar Isles Neighborhood Of Miramar
- Asset Consists Of 3 Adjacent Buildings (Separately Parceled) On Large 0.93 AC Lot With Favorable Zoning, Offering Stable Income And Future Redevelopment Potential
- Extremely Well-Maintained By Professional Operator With Minimal To No Capital Expenditures Needed In Short-Term
- All Electrical And Plumbing Has Been Updated
- Every Unit Has Been Renovated And Features Open, Spacious Layouts With New Flooring, Cabinetry/Countertops, Stainless Steel Appliances, Updated Bathrooms, Etc.
- Property Features Central Air Conditioning Throughout And Private Patio Space For Every Unit
- Community Amenities Include Ample Parking For Tenants & Guests And Multiple Common Laundry Facilities
- Prime Miramar Location In Quiet Neighborhood Close To Retailers, Restaurants, Schools, Offices, Etc.
- Located Just North Of Miramar Pkwy And SR-441 Providing Easy Accessibility To Anywhere In Broward County
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