Cushman & Wakefield, as exclusive investment advisor, is pleased to present Renee Garden and Coco Palms, two properties totaling 64 units in Pompano Beach and Lighthouse Point. The properties are 1.3 miles apart from each other and are offered for sale individually or as a portfolio.
Renee Garden features 46 units and just completed a gut renovation totaling over $1.2M in interior and exterior improvements, including completely new kitchen and bathrooms, new electrical and plumbing systems, new appliances, impact windows, new HVAC, new roof, and new pool area.
Coco Palms totals 18 units. Two units are currently in the process of renovation with finishes similar to those in Renee Garden. While Renee Garden is already primed to capitalize from its recent capital improvement program, Coco offers further significant value-add upside by upgrading the remaining 16 non-renovated units. All units have new impact windows.
Both properties are in excellent locations just 1.5 miles east of I-95, adjacent to US-1. Within 1-mile of the property the populations has grown 9% over past seven years plus the submarket is forecasted to experience 3.4% rent growth per year over next five years.