Apartments

Prospect Gardens

146-240 NW 40th Ct

Oakland Park

, FL

24

# of Units

5.52

Cap Rate

271.38

Price Per Sq. Ft.

204,167

Price per Unit

Prospect Gardens

Investment Overview

Prospect Gardens is a 24-unit apartment portfolio located in the city of Oakland Park, Florida. The community is comprised of four one-story fourplexes and a two-story, eight-unit building, all located within a two-block radius. The buildings enjoy a premier location in Oakland Park, one of Broward County’s most rapidly improving and highly connected urban communities. The surrounding area blends strong demographics, a growing employment base, and exceptional convenience to retail, healthcare, and transportation positioning the property as an ideal opportunity for long term value and future development in a market experiencing sustained upward momentum.

The property is surrounded by vital lifestyle amenities and major medical providers, including Florida Medical Center, a 459 bed acute care hospital recognized for award winning cardiac and stroke care, located just minutes away. Additional comprehensive healthcare is provided at Holy Cross Healthplex Medical Plaza on North Dixie Highway, along with access to top regional institutions such as Holy Cross Hospital and Broward Health Imperial Point, all within a short driving radius, offering residents excellent medical convenience and choice. Families benefit from proximity to established public schools—Lloyd Estates Elementary, James S. Rickards Middle School, and Northeast High School—all serving the immediate neighborhood and contributing to its strong residential appeal. Daily needs are easily met with nearby supermarkets and pharmacies, including a full service CVS Pharmacy on West Oakland Park Boulevard, which offers extended hours, drive thru service, and convenient access for residents, supplemented by a wide selection of local and national grocery operators throughout the city.

Investment HIGHLIGHTS

  • Portfolio of five buildings, 100% two-bedroom floor plans
  • Significant upside through renovations, Potential for future redevelopment
  • Onsite property-owned laundry facilities
  • Large open courtyards
  • Central and wall unit air-conditioning
  • Ceramic tile flooring throughout
  • Lots of parking for residents and guests
  • Most roofs replaced in past six years
  • All interior and exterior electric panels replaced
  • Close proximity to Downtown Fort Lauderdale

Listed By

Lead Agent

Evan P. Kristol

Executive Managing Director Investments

evan.kristol@marcusmillichap.com
Phone: (954) 245-3459
License: FL: SL640466

Felipe J. Echarte

Senior Managing Director Investments

felipe.echarte@marcusmillichap.com
Phone: (954) 245-3444
License: FL: SL696115

Austin Michels

Associate Director Investments

austin.michels@marcusmillichap.com
Phone: (954) 245-3439
License: FL: SL3510497

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Contact Us

The Kristol Group

5900 North Andrews Avenue
Suite 100
Fort Lauderdale, FL 33309
954-245-3400
info@kristolgroup.com