Coco Palms Apartments — Sale in Lighthouse Point, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Lighthouse Point, FL 33064

Photos

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Investment Figures

Cap rate
5.73%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Coco Palms Apartments, an (18)-unit apartment community located in Lighthouse Point, Florida. SUBJECT PROPERTY Coco Palms Apartments was constructed in 1975 and comprises (1) two-story concrete block building with a painted stucco exterior and flat roof. The property offers 11,980 square feet of total building area and sits on a 17,990-square-foot lot (0.41 acres), according to the Broward County Property Appraiser. The unit mix includes (18) one-bedroom/one-bathroom units averaging 661 square feet. The property features on-site laundry facilities, central air conditioning, paved asphalt parking, and standard life-safety components including smoke detectors and fire extinguishers. The property is zoned RM-25. Coco Palms Apartments is currently operating as short-term vacation rentals, offering investors an existing furnished rental operation in a desirable Lighthouse Point location. The property also presents the opportunity to convert the units back to traditional apartment rentals, providing flexibility for future ownership based on investment strategy. LOCATION Coco Palms Apartments is located in Lighthouse Point, Florida, offering residents and guests convenient access to US-1 (Federal Highway) and Sample Road. The surrounding 1-mile area reports an average household income of $119,412 and population growth of 13.3% since 2010. The property is within walking distance to Venetian Isles Shopping Center, Starbucks, and North Broward Park, with a short drive to Pompano Pointe Shopping Center, Whole Foods Market, Target, Sprouts, and nearby coastal amenities. Surrounding area retailers and points of interest include Starbucks (0.5 miles), Venetian Isles Shopping Center (0.5 miles), Papa’s Raw Bar (0.7 miles), Shopper’s Haven Shopping Center (0.8 miles), The Rink on the Beach (0.8 miles), Lighthouse Point Yacht Club (0.9 miles), North Broward Park (1.1 miles), Walmart Supercenter (1.1 miles), Harbor Freight (1.3 miles), Pompano

Market Context

This multifamily in Lighthouse Point, FL is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Lighthouse Point, FL — view the full market.

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  • What is the asking price?
  • What is the current zoning, and does it allow my intended use?
  • How many parking spaces come with the property?

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