BiggerPockets

Description:

The Apartments at Carter Park consists of 24 buildings with 4 units each with a total of 95 two bedroom / one bath apartments and 1 efficiency located in the city of Ft. Lauderdale, Florida. Built between the years of 1957 and 1960, the 4.5 acre property is very well kept by the current owners with over a 95% occupancy rate throughout the year.

The Apartments at Carter Park offers investors the opportunity to acquire a complex with incredible upside to gain double digit returns within a few years and at the same time adding tremendous value to the property for future sale.

All units are rented for nearly 10% lower than the lowest comparables in the area. Investors are able raise rents to current market comparables in the area or slowly add section 8 renters to the property creating a much higher monthly income and adding value to the property.

In addition, the property has an un-used laundry room that easily fits 12 washers and 12 dryers to create more income for the investors.