The Real Deal Miami

Caravelle North sells for $1.2M

May 02, 2011 12:46PM

The Caravelle North Apartments, a 16-unit apartment building in Fort
Lauderdale, has been sold for $1.2 million, according to Marcus &
Millichap. The firm’s Joseph Thomas represented the seller, a private
investor from Palm Beach Shores, along with the buyer, who was a private
investor from Hollywood. “Caravelle North is a stabilized apartment
building with minimal deferred maintenance in a strong Fort Lauderdale
rental market,” Thomas said. “The units are all large two bedrooms with
two bathrooms and should continue to stay in high demand.” Caravelle
North is located in the Knoll Ridge section of Fort Lauderdale, just
north of Commercial Boulevard. TRD