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Sunrise Villas apartment complex sells for $5.4M

Sunrise Villas apartment complex sells for $5.4M
Property consists of 20 one-story buildings with all three-bedroom/two-bathroom units
December 28, 2015 02:15PM

Sunrise Villas

Sunrise Villas, a 60-unit apartment complex in Sunrise, has traded hands for $5.4 million.
The sale of the property at 6354 Northwest 26th Street, equates to $90,000 per unit.
Marcus & Millichap‘s Brandon J Rex, a vice president of investments, Robert S. Hunter, a senior associate, Evan P. Kristol, a senior vice president investments, Daniel J. Cunningham and Derek R. Gibbs, associate vice presidents, and Evan Richardson, an associate, all in the firm’s Fort Lauderdale office, represented the seller, a limited liability company from Charlotte, N.C., and the buyer, a limited liability company from Davie.
According to Broward County property records, the seller is Lake Success Rentals II LLC, whose registered agent is Harry Roessner based in Charlotte, N.C.
The sale was recorded on Christmas Eve, showing the buyer as Lake Success LLC, based in Davie, whose registered agent is Jomy Zacharias, and whose authorized members are Justin Zacharias, also of Davie; Eapen Johnson, of Union, N.J.; Jaya Johnson, of Union, N.J.; Raji Jomy of Davie; and Jesneal Investment Inc. of Hialeah.
Gibbs said that the firm received multiple offers on the Sunrise property and closed for just under list price.
Built in 1971 on a 4.51 acre lot, Sunrise Villas is composed of 20 one-story buildings with all three-bedroom/two-bathroom units. About two-thirds of the units have new wood kitchen cabinets, granite countertops and new ceramic flooring or vinyl plank throughout, according to a release. — Ina Cordle

Source: The Real Deal

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