Boutique Apartment
For Sale
$5,900,000
938 Northern Dr, Lake Park, FL 33403
Well-maintained multifamily community with renovated interiors, shared amenities, and a balanced two- and three-bedroom unit mix.
Property SizeContact for details
Lot Size0.79 Acres
Days on Market153
Property Features for 938 Northern Dr
General Information
Standard status
Active
Total Parking Spaces
34
Lot size
0.79 Acres
Property subtype
Multifamily
Zoning
C-1
Occupancy
95%
Units
Unit Mix
16 x 2BR/1BA, 12 x 3BR/2BA
Multifamily Units
28
Additional Details
Cap Rate
6.71%
Amenities
central air conditioning
on-site laundry
storage closets
security cameras
courtyard
Excellent Unit Mix of Two-Bedroom and Three-Bedroom Apartments
Impact Glass Windows and Significant Recent Capital Improvements
Central Air-Conditioning Throughout All Units
Close to Downtown Lake Park, Retail Corridors, Major Throughfares, and Employment Centers
Two On-Site Laundry Facilities and Multiple Storage Closets
On-Site Parking and Security Camera Coverage
Quiet Residential Setting with an Open Courtyard and Bench Seating
Long-term Ownership of Over 10 Years.
Building Details
Year Built
1963
Buildings
2
Stories
2
Units
28
Construction
concrete block
Listing Agency:
Fort Lauderdale Office
(954) 245-3488
Listed By:
Brandon J. Rex · License #FL: SL 672545
(954) 245-3488
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 31
Last Checked: Aug 31 at 2:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Magnolia Square is a 28-unit apartment community consisting of two two-story residential buildings constructed in 1963 with concrete-block construction, painted stucco exteriors, and wood second floors. The property encompasses approximately 0.79 acres and carries C-1 zoning. Unit composition includes sixteen two-bedroom, one-bath apartments and twelve three-bedroom, two-bath apartments. Each residence has central air conditioning, while recent improvements include impact windows installed in 2021, updated kitchens, ceramic tile flooring in most units, shower tile upgrades, metal doors, and landscaping enhancements.
Community features include approximately 34 on-site parking spaces, two owner-owned laundry facilities with four washers and four dryers, storage closets, security cameras covering the parking areas and courtyard, and an open courtyard with seating. Roofs are approximately 18 years old. Residents pay electricity, with water and sewer provided by ownership. The property is located just north of Park Avenue in Lake Park, near Lake Shore Park, Kelsey Park, Lake Park Harbor Marina, the Park Avenue Arts & Entertainment District, and a newly opened adjacent coffee shop.
Community features include approximately 34 on-site parking spaces, two owner-owned laundry facilities with four washers and four dryers, storage closets, security cameras covering the parking areas and courtyard, and an open courtyard with seating. Roofs are approximately 18 years old. Residents pay electricity, with water and sewer provided by ownership. The property is located just north of Park Avenue in Lake Park, near Lake Shore Park, Kelsey Park, Lake Park Harbor Marina, the Park Avenue Arts & Entertainment District, and a newly opened adjacent coffee shop.
Key Highlights
- 28‑unit apartment community on approximately 0.79 acres
- Unit mix includes 16 two‑bedroom/one‑bath and 12 three‑bedroom/two‑bath units
- Impact windows installed in 2021; most units have ceramic tile flooring
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily community with renovated interiors, shared amenities, and a balanced two- and three-bedroom unit mix.
Where is this apartment building located?
The property is located at 938 Northern Dr Lake Park, FL.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 28‑unit apartment community on approximately 0.79 acres; Unit mix includes 16 two‑bedroom/one‑bath and 12 three‑bedroom/two‑bath units; Impact windows installed in 2021; most units have ceramic tile flooring
