2708 and 3300 Broadway West Palm Beach, FL 33407
$1,500,000 · 28 Units · Multifamily For Sale
28 Unit Portfolio For Sale in West Palm Beach
|Price||$1,500,000||Property Sub-type||Garden – Low-Rise|
|No. Units||28||Property Use Type||Investment|
|Building Size||7,867 SF||Apartments For Sale||Rentals|
|Price per Unit||$53,571.43||Cap Rate||8.55%|
South Florida Investment Property Description
List Price: $1,500,000
Cap Rate: 8.55%
22.19% Cash on Cash Return
These Rental Units are individually metered for electric
Brand new roofs, completed in September 2016
Renovated recently inside and out in 2016
Full CBS construction
Apartment Properties are located 0.3 miles apart from each other
The City and the CRA are continuing improve this district to mirror the high rise developments of Downtown West Palm Beach. The property is located 2 blocks from the Intracoastal Waterway, beaches, Palm Beach Island, The Palm Beach Outlet Mall and is adjacent to Northwood Village, a burgeoning Creative Arts District. In the past few years, the CRA invested $18 million in community improvements on 24th and 25th Streets. In 2015, the CRA began to heavily rewrite land development regulations which has already stimulated dozens of redevelopment projects in the area. The Village has been positioned for major growth, and the All Aboard Florida high-speed rail service is estimated to boost over $1 billion of annual economic activity in the area. The CRA is also working with FDOT to reconfigure the roadway between 40th and 25th Streets, to create a pedestrian and business friendly thoroughfare with a much higher walkability factor.
Apartment Buildings Financial Summary (Actual)
|Net Operating Income||$128,250|
2708 & 3300 Broadway, West Palm Beach, FL 33407 (Palm Beach County)
Listing information courtesy of The Goldstein Group (MRG Associates, LLC). All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.
Please feel free to contact us to get more information on this Apartment Complex for sale or other Florida Multifamily Buildings for sale.