Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire Royal Oaks Townhomes (the “Property”) – a 69-unit, luxury townhome community located in Hollywood, Florida. Completed in 2009, Royal Oaks offers the rare opportunity to acquire a boutique, luxury townhome community without any HOA obligations. The property is 97% occupied and offers oversized three-bedroom, two and one-half bathroom floor plans with 1,695 square feet of living space in two levels (excluding garage space). All of the residences include a private direct access garage, terraces and balconies accented by decorative wrought iron railings, and a semi private back yard. Market rents are $2,490 or $2,061,000 per year.
Royal Oaks Townhomes was originally designed as a “for sale” townhome community but no units were ever sold and the community has been operated as a luxury rental since it was completed. All interiors are luxuriously appointed with features and finishes one would expect to find in high end custom homes. Tenants within Royal Oaks average over $90,000 in household income, which is over three times the market rent. The property is adjacent to Emerald Hills which has homes selling for as high as $3 Million.
Royal Oaks Townhomes is located on the south side of Stirling Road approximately half mile west of Interstate 95 and about three miles east of the Florida’s Turnpike. In addition the property is equally 1 mile from South Florida’s expanding Tri-Rail two stations, Fort Lauderdale Airport Station to the north and Sheridan Station to the South. With a new link to downtown Miami coming online later in 2019, the railway will improve connectivity for residents and establish the community as a true rental alternative to downtown Miami’s high rent apartments.