SOLD: 46-unit multifamily property for $3,125,000 in Pompano Beach, Fla.
(10/2013) Pompano Beach, Fla. – Annie and David Pearl, Pearl Real Estate Group of KW Commercial, are pleased to announce the sale of Olive Glen Apartments. Olive Glen is a 46-unit multifamily portfolio located in Pompano Beach, Broward County, Fla. Annie and David represented both the buyer and seller. The property was sold for $3,125,000 or $67,935 per unit.
The property consists of a two-story, 22-unit building and six quads. The property generally runs 100 percent occupied, with many structural upgrades. This unit mix consists primarily of one and two-bedroom units. Most units have been upgraded and all feature central A/C. Community amenities include laundry facilities in each building, access to a community recreation center club with lighted tennis courts, swimming pool and children's playground.
This is the third multifamily complex Annie and David have closed in Pompano Beach in 2013. They are extremely experienced in the income side of commercial brokerage. One of their many strengths include their creative approaches to deal making, bringing a value-add to all our seller and buyers.