Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Sunset Apartments, a 54-unit apartment property located in Sunrise, Florida, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $8,000,000.
Alec G. Bashein, Brandon J. Rex and Evan P. Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a private investor, was secured and represented by Alec G. Bashein, Brandon J. Rex and Evan P. Kristol.
“The property has undergone significant renovations and upgrades over the past few years and rent collections have been at 100 percent despite COVID-19,” says Alec Bashein.
Sunset Apartments is located at 2330-2350 NW 72nd Avenue in Sunrise, Florida. Sunset Apartments is one of only a handful of remaining larger value-add apartment communities in the submarket which was well maintained through hands-on management during its ownership.