Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Granada Apartments, a 78-unit property located in Lauderdale Lakes, Florida. According to Ryan Nee, regional manager of the firm’s Fort Lauderdale office, the asset sold for $7,800,000.
“The Granada Apartments is the type of asset many investors are looking for today. The buyer has the opportunity to increase value through renovations and increasing the rental income,” said Felipe J. Echarte, senior vice president investments in Marcus & Millichap’s Fort Lauderdale office.
Echarte along with Brandon J. Rex and Evan P. Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, secured and represented the buyer.
Granada is located at 4711 NW 24th Ct in Lauderdale Lakes, Florida, with close proximity to Florida’s Turnpike. The property features a unit mix of studio, one-, two-, and three-bedroom units ranging in size from 600 to 1,000 SF.