(To read more on the multifamily market, click here.)

FORT LAUDERDALE, FL-In the continuing tightening of rentalmultifamily properties due to condo conversion, two small 1960-eraapartment complexes have sold for potential conversion. Inseparate, unrelated transactions, La Belle Harbor Apartments hereand Eden House in Hollywood command $4.8 million and just shy of$5.6 million, respectively.

The 30-unit La Belle Harbor at 6540 NE 18th Ave. is in one ofEast Fort Lauderdale's most desirable areas, according to GeneBerman, SVP and regional manager of the local office of Marcus& Millichap. It was built in 1965 and commanded $160,000 aunit, which is well above the median price of $98,000 a unit,according to an October 2005 M&M report. And, that median was a24% hike over the median-per-unit selling price for multifamilyassets here the year before. Brandon Rex, senior investmentassociate with Marcus & Millichap, listed the property onbehalf of Goodson Investments Inc. David Luther, senior associatein the same office, secured and represented the buyer, identifiedas Labelle Villas LLC.