100 Sandal Ln - Apartments FOR SALE


Palm Beach Shores, FL 33404
$4,999,000 USD
561-506-4461
100 Sandal Ln, Palm Beach Shores, FL for Sale
$4,999,000 USD
Apartments - FOR SALE
1/64
null | 6% Cap Rate

100 Sandal Ln
Palm Beach Shores, FL 33404


HIGHLIGHTS

  • 2 LOTS on a corner. Across from the Ocean. Currently 9 units grandfathered
  • Build 2.5 Stories and 8 units as of current zoning. Potential 18 Units and 5 stories under Live Local Act.
  • Current configuration isn't subject to city short term rental permitting fee.
  • Mix of Long term rentals and Short Term rental units.

OVERVIEW

Operated as 10 Units Current legal use is 9 Units (grandfathered) If Knocked Down and Rebuilt 8 Units as of Right and 2.5 Floor Live Local Act could Allow 18 Units and 5 Stories. Build 8 Luxury Townhomes, and keep renting while plans and permitting are pending. Most Long term Tenants Pay Metered Electric. 9 FPL meters. Sewer Line Pipes Re-lined in 2020 On 2 Legally Separate Lots (336 and 337). Lot 336 had all windows and doors replaced with impact windows in 2024. Consider sale of just this 4 Plex for $2.75m Currently operated as a mix of Long Term and Short Term Rentals. After some discussion with the Town, this property does not fall under the Short Term Rental permitting of Palm Beach Shores (in current configuration). Multiple seasonal guest who return annually. At discretion of purchasers, all long term tenants can be removed in just a few months (most have been here multiple years and are month to month, or have leases that did not extend past summer).

FOR SALE DETAILS

PRICE

$4,999,000 USD

PRICE/SF

$816 USD /SF

# OF UNITS

9

PRICE/UNIT

$555,444

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

B, Palm Beach Shores

APN/PARCEL ID

54-43-42-27-04-000-3360,54-43-42-27-04-000-3370

ASK ABOUT THIS PROPERTY

Warren ScottOcean Trust RealtyMore Info
561-506-4461

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Warren ScottOcean Trust RealtyMore Info
561-506-4461

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.