Opportunity To Acquire A 296-Unit Value-Add, Garden-Style Property in Fort Lauderdale
Quick Stats
Executive Summary
The Offering
Berkadia Real Estate Advisors is pleased to exclusively present The Village at Eastpointe (the “Property”), a 296-unit garden-style multifamily community located at 5201 N. Dixie Highway in Fort Lauderdale, Florida.
Current ownership has established a clear, repeatable interior value-add program, having fully upgraded 219 units to date. Approximately 26% of the homes remain to be renovated, with the upgraded units achieving proven rent premiums of $230+ per month, as evidenced in the rent roll. In addition, ownership completed comprehensive exterior upgrades in 2023, including renovations to the clubhouse, fitness center, pool, and leasing office.
Ideally positioned just east of I-95, The Village at Eastpointe offers exceptional connectivity to key employment hubs, including the Cypress Creek Business District, Oakland Park’s Central Business District, and Downtown Fort Lauderdale, delivering urban-like access and convenience while maintaining a suburban living experience. The Property is directly adjacent to a Publix-anchored retail center and benefits from a unique mix of nearby office and retail not typically found in suburban submarkets, and it is located just eight minutes from the beach.
The Village at Eastpointe represents a rare opportunity to acquire a suburban value-add asset in a long-term, highly desirable infill location, offered at a discount to replacement cost with both embedded renovation upside and durable demand drivers.
Investment
Highlights
TREMENDOUS VALUE-ADD POTENTIAL
The Property’s fully renovated units are currently achieving proven rent premiums of approximately $231 per month, providing a clear, executable renovation roadmap and a scalable value-add program for the 77 classic and partially renovated units.
HIGH BARRIERS TO ENTRY
There are zero garden-style properties under construction within a five-mile radius of The Village at Eastpointe.
DISCOUNT TO REPLACEMENT COST
The Village at Eastpointe provides an opportunity to acquire an asset significantly below replacement cost due to limited land remaining, as well as inflated construction costs.
STRATEGIC LOCATION EAST OF I-95
I am a so called subtitle.Despite the suburban feel of the area, The Village at Eastpointe is located a few minutes away from over 12M SF of office and retail.
RENT VS OWN
I am a so called subtitle.With homeownership costs at an all-time high, The Village at Eastpointe is the reasonable choice for renters in Oakland Park. Surrounded by million-dollar homes, the rent vs. own spread in Oakland Park exceeds $7,000.
Contact Us
Offices & Contact Information
Miami
1111 Brickell Ave
Suite 1650
Miami, FL 33131
Boca Raton
5100 Town Center Circle
Suite 550
Boca Raton, FL 33486
Investment Sales
Jaret Turkell
Senior Managing Director
561.573.6140
[email protected]
Omar Morales
Senior Director
305.878.2278
[email protected]
Yoav Yuhjtman
Senior Director
786.853.5555
[email protected]
Jonah Irvin
Financial Analyst
813.765.3253
[email protected]
Mortgage Bankers
Mitch Sinberg
Senior Managing Director
561.609.4006
[email protected]
Brad Williamson
Managing Director
786.646.2580
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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