For Sale, Isles at Lago Mar

For Sale, Isles at Lago Mar – 141 Condominium Units
Sunrise, Florida (Broward County)
High Barrier to Entry Location - One Mile from Sawgrass Mills
LOCATION
INVESTMENT OPPORTUNITY
673 Vista Isles Drive
Continental Real Estate Companies (CREC) is pleased to offer the unique opportunity to
acquire 141 residential units and 1 commercial unit within the Isles at Lago Mar Condominium
located in Sunrise, Florida. Isles at Lago Mar was built in 1991 and benefits from resort style
amenities including a fitness center, playground, racquetball court, lake front sundeck, two
pools, tennis courts, and a clubhouse. The Property’s high barrier to entry location is just
minutes from the 2.4 million square foot Sawgrass Mills Mall, Publix, Ikea, and Sawgrass
Corporate Center (3.4 million square feet of institutional office space). Isles at Lago Mar is
also across the street from Flamingo Park and Sawgrass Elementary School. The Property’s
units also feature lake and golf course views and select units have upgraded granite counter
tops, wood cabinets, and hard surface flooring. Isles at Lago Mar represents one of the last
remaining opportunities to acquire bulk condominium inventory in South Florida.
Sunrise, Florida 33325
Broward County
UNITS OFFERED
141 Residential
1 Commercial
UNIT MIX
46% One Bedroom
54% Two Bedroom
YEAR BUILT
1991
AVERAGE IN-PLACE RENT (JUNE 2015)
$1,217 per Month
CURRENT RENTAL INCOME (MAY 2015)
$2,078,935 per Annum
$173,245 per Month
Isles at Lago Mar features great frontage and visibility on the west side of Flamingo Road
between Sunrise and Broward Boulevards. The Property also benefits from immediate access
to Interstate 595, Interstate 75, and the Sawgrass Expressway (SR-869). Isles at Lago Mar is
located just minutes from Broward County’s largest employment centers including Sawgrass
Corporate Center, Nova Southeastern University, Pembroke Pines, and Fort Lauderdale’s
Central Business District.
OFFERING HIGHLIGHTS
• L
uxury community featuring resort style amenities, water and golf course views, and a
premier location
• Rare opportunity to acquire a bulk condominium in Broward County with a commercial
unit for operations and over $2.7 million ($7,539 per unit) in capital improvements
completed
• Exceptional location just minutes from Sawgrass Mills, Publix, and three major expressways (I-595, I-75, SR-869)
• Desirable unit mix (54% two bedrooms) featuring walk-in closets and full size washers
and dryers
• Strong in-place cash flow with proven opportunity to grow rents through unit interior
upgrades
Pembroke Pines
Weston
SW Ranches
Sawgrass
Corporate Center
Townhomes by
$365K - $405K
Lago Mar
Country Club
ad
Ro
go
in
am
Fl
NW
t
ee
Str
h
t
8
Flamingo Park
Sawgrass
Elementary
CREC. Your Florida Partner.
1.888.488.CREC www.crec.com
For Sale, Isles at Lago Mar – 141 Units
Sunrise, Florida (Broward County)
High Barrier to Entry Location One Mile from Sawgrass Mills
Continental Real Estate Companies
pressway
Sawgrass Ex
Sunrise B
lvd
Flamingo Park Sawgrass
Elementary
For Additional Information
Peter Mekras
Senior Vice President
305-779-9493
e: [email protected]
American Express
Corporate Center
NW 8th Str
eet
Lago Mar
Country Club
Fla
mi
ng
oR
oa
d
2121 Ponce de Leon Boulevard
Suite 1250
Coral Gables, FL 33134
305.854.7342 f: 305.858.6239
www.crec.com
Chris Bate
Transaction Analyst
305-503-4882
e: [email protected]
Although the information contained herein is believed to be correct, Broker and Owner have not independently verified the information contained herein and disclaim any and all responsibility for any inaccuracies. Further, Broker expects prospective purchasers to exercise their own independent due diligence in verifying all supplied and relevant information. No representation
or warranty, expressed or implied, is made as to the accuracy or completeness of this Offering or any of its contents, or any other written or oral communication transmitted to a prospective
purchaser in the course of its evaluation of the proposed sale of the Property.