518 Biscayne Dr - Apartments FOR SALE


West Palm Beach, FL 33401
$1,700,000 USD
561-810-3537
518 Biscayne Dr, West Palm Beach, FL for Sale
$1,700,000 USD
Apartments - FOR SALE
1/9
null | 5.5% Cap Rate

518 Biscayne Dr
West Palm Beach, FL 33401


HIGHLIGHTS

  • Michelin Star Dining at Your Doorstep: Just a short stroll away is the crown jewel of the area's recent development—Konro
  • You are walking distance to the Grandview Public Market for casual bites, the Norton Museum of Art for culture, and the boutique shops of The Square
  • High walkability to local markets, cafes, and the Intracoastal Waterway.
  • Located less than 10 minutes from Palm Beach International Airport (PBI) and the pristine beaches of Palm Beach Island
  • Walking Distance from The Green School (whose expansion is happening just two houses away)
  • Upstairs Units (1 & 2) Are 2 BR / 1 BA. Downstairs Units (3 & 4) Are 1 BR / 1 BA

OVERVIEW

RENOVATION IN PROGRESS: All units have gotten or are getting totally renovated kitchens (with Samsung range-oven and Microwave) and bathrooms (completely new showers, tile, vanities, etc). The "Park Place" Renaissance The true value of this property lies in its location, just moments from the exploding culinary and cultural scene of the Park Place corridor. This specific pocket of the neighborhood has recently transformed into a destination for the elite food scene. The two warehouses at the end of the drive are vacant and belong to Jeff Greene who plans to repurpose the property for use by the Green School which is walking distance from the 4-plex. TheGreeneSchool.com This West Palm Beach 4-plex has been meticulously maintained by the owner, with many improvements and repairs over the last 7 years of their ownership, including but not limited to: brand new floors in 3 units, brand new cabinets in 3 of the units, added a new full kitchen to another unit, foundation repairs and more. 3 of the 4 units are paying below market rents creating an opportunity for an immediate addition of +$15k per year of pre-tax cash flow.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$471 USD /SF

# OF UNITS

4

PRICE/UNIT

$425,000

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Recently Renovated Rent-Stabilized 4-Plex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

SF14-C2

APN/PARCEL ID

74-43-43-28-06-019-0030

ASK ABOUT THIS PROPERTY

Chad MassakerChad Massaker LLC Brokered By EXP CommercialMore Info
561-810-3537

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Chad MassakerChad Massaker LLC Brokered By EXP CommercialMore Info
561-810-3537

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