Available For Sale - Multifamily

19,075 SF | Show Pricing $

LISTED BY

Steven Paulsen
Open Market CRE, 561-929-4098

AVAILABILITY DETAILS

Size
19,075 SF
Price/SF
Show Pricing $
Listing ID
SA529718
Notes
Vista Court Apartments represents an attractive value-add opportunity within the South Florida Metropolitan Statistical Area, situated in the City of Deerfield Beach, Florida. Nestled within the Pioneer Groves Local Activity Center, which is strategically planned as Deerfield Beach's walkable mixed-use district initiative, this property serves as the future core of the city. Further redevelopment of the area is expected well into the future with a more dense Downtown creation meant for a more urban Deerfield Beach.



Since acquisition, the surrounding community has experienced significant development, including the establishment of new parks and townhomes near the subject property trading at +/- $400 per square foot. The property itself has undergone substantial repositioning with capital improvements, such as the installation of new hurricane impact windows and doors, new kitchens, new flooring, and more.



It's important to note that the area is characterized by a scarcity of this type of product, as it primarily consists of single-family homes, townhomes, and privately owned condominiums. B Class Multifamily such as Vista Court Flats is simply not available to investors in this pocket of South Florida. Economic Drivers in the area including the connectivity to high wage career choices of Boca Raton encourages new ownership to initiate a complex high end renovation strategy to maximize returns at the property. Based on availability of similar units in the area, Vista Court Flats is well positioned to enjoy significant rental increases now and well into the future.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Steven Paulsen, Open Market CRE
BRE# BK3053136