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.

This generational investment opportunity will instantly make a new owner one of the largest multifamily owners on South Beach, which is one of the most supply constrained markets in the U.S. The portfolio offers immediate upside through improved management and leasing as well as value-add potential on most buildings. In the past four years $6.9 million has been spent on improving the properties, including the gut renovations of 1600-1606 West Avenue and 1567 Meridian (61 units) – the remaining 261 units have the potential to increase income with value-add improvements focused on interior upgrades.

Please view additional photos by clicking on the Photos Link tab below.

Cushman & Wakefield is pleased to present for sale, Sommerset Place Apartments, a 36-unit value-add opportunity in a tranquil pocket of Brooklyn Center, just off Highway 100 and next to Centerbrook Golf Course.

The property is located in a quiet residential neighborhood on the South side of Lions Park and steps from Shingle Creek and the Shingle Creek Regional Trail. Sommerset Place is also conveniently located minutes from Target, Walmart Super Center, Cub Foods, CVS Pharmacy, LA Fitness and numerous national and local restaurants. The property is just 10 minutes north of downtown Minneapolis and five minutes from both Brooklyn Center High School and Middle School.

Sommerset Place is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly 2-Bedroom units and the average in-place rent is roughly $885/Month. Comparable properties in the submarket are renting 2-Bedroom units for $1,100/Month (see rent comps on Page 37 of OM), which is achievable at Sommerset Place by implementing a light in-unit renovation plan. The current vacancy rate in the city of Brooklyn Center is just 2.0% and the area is in high demand given its close proximity to downtown Minneapolis and other local attractions.

Sommerset Place is offered free and clear of existing financing and tours will begin the week of September 5th, 2018. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.

The "South Beach Resort" is THE premier multifamily asset in the Las Vegas valley, as it combines true resort living with an unequaled lifestyle and hospitality experience. Recently completed, the property is poised to take advantage of the fastest growing submarket in Las Vegas. Location and asset type makes this a unique offering, as the property is nestled between the Red Rock Canyon National Conservation area and the famous Las Vegas Strip, and benefits from proximity to Downtown Summerlin, and ease-of-access to major expressways & transportation.

Currently, Las Vegas is the 29th largest MSA in the United States, and number two in rent growth among major metros. Rent growth figures have averaged above 6% through 2016 and 2017, and the Southwest market continues to have the highest rent growth figures in the greater MSA. Additionally, Las Vegas leads the country in job creation, with year-over-year job gains of 3.3%. In total, 43,800 jobs were created through 2016 & 2017, and unemployment has stayed stable at 4.9%. This job growth, paired with above-average population growth, continues to expand the local rental market.

The result is a creation of the next generation of multifamily living that has never been witnessed in Las Vegas, or nationwide.

Cushman & Wakefield’s Southwest Multifamily Advisory Group is pleased to present the exclusive listing of the 130-unit Summerhill apartment community centrally located in Phoenix, Arizona. This asset is situated in a desirable and strategically located neighborhood between Central Phoenix and Scottsdale. Built in 1970, Summerhill represents an outstanding opportunity to invest in a strong location at a price below comparable sales.

Cushman & Wakefield is pleased to introduce the opportunity to purchase Terra Vista Palms, a 138-unit garden-style apartment community built in 1975 offering value-add potential to new ownership. Terra Vista Palms, at 59th and Northern Avenues, falls within the Downtown Glendale focus area. Historic Downtown Glendale has been experiencing a resurgence of restaurants and retail that attracts many residents with its quaint, city square feel. The property profits from good visibility on 59th Avenue with close proximity to many local conveniences and employment centers.

Terra Vista Palms offers an operational upside utilizing an interior and exterior renovation plan with the ability to increase effective rents and add value based on strong occupancy and projected rent growth. Contact us today to schedule your personal tour of Terra Vista Palms.