Golden Palms Apartments

4100 SW 24 Ct Fort Lauderdale FL

The Offering

golden palms living room - fort luaderdale real estate

Golden Palms Apartments is a 33-unit, multi-family value-add offering in a high-demand Fort Lauderdale location with nine buildings and a pool. The property features a unique unit mix of one- and two-bedroom units with an average unit size of 667 square feet and is currently 97% occupied.

The property location is ideal. In the immediate area, there is minimal supply and weak competition. With surrounding area developments contributing to rent growth. Most desirable workforce job access, close to major demand drivers such as Port Everglades, Fort Lauderdale–Hollywood International Airport, Florida Atlantic University.

Partner investors have the tremendous opportunity to achieve substantial rent gains through moderate interior and exterior renovations.

Investment Highlights

Incredible value-add upside through strategic renovations
Rental rates well below competitive set – offering significant room to run
Proven ability to push rents through modest improvement programs
High demand/high occupancy (97%) pointing toward climbing rental rate environment
Convenient access to transportation & job hubs
Money Distribution from Day 1
Florida Positioned as Long-Term Winner Post-COVID

33

Units

icon used to state Sqr fit of the property

22,200

Sqr Ft

1968

Year Built

Property Details

Community Amenities
• Resident Lounge (In Construction)
• Swimming Pool
• Playground (In Construction)
• Barbecue and picnic area
• On-site laundry facility
• Gated Access

Unit Amenities
• Newley Renovated Units
• Air conditioning/Ceiling Fan
• Walk-in closet(s)*
• Fully Equipped Kitchens
• New Wood Flooring*
• Additional storage
available
*In select units

Type	Units	Sqr Ft.
1×1	27	620
2×1	6	910

Market

Fort Lauderdale Market Overview

One of the nation’s most resilient and popular multi-family markets, Fort Lauderdale Metropolis currently populates nearly 2M people and adding annually 24,000 residents per year. The rental market is performing robustly since 2012, with average annual rent growth of 5% and occupancy rates of about 96% percent during the period.

Fort Lauderdale benefits significantly from its location along the Atlantic coast. Fort Lauderdale Port, Port Everglades, had in 2018 a total annual economic impact of $33.9 billion, including 7,300 jobs. During the past two decades, the port has contributed to significant job growth in the professional and business services and the transportation and utilities sectors. Fort Lauderdale also benefits from tourism associated with Everglades National Park. Everglades is the third-largest national park in the contiguous United States, and on average, one million people visit the park each year. In addition, the city of Fort Lauderdale is known as “the Yachting Capital of the World” for its hundreds of miles of inland waterways and tens of thousands of registered yachts.

The warm climate and lack of state income taxes have made the area an increasingly popular destination for companies, families, and retirees, particularly those relocating from the relatively expensive housing markets in the northeastern parts of the country – making Fort Lauderdale an excellent investment market.