535-537 18th St, West Palm Beach - Apartments FOR SALE


West Palm Beach, FL 33407- Pleasant City
$2,320,000 USD
954-245-3492
535-537 18th St, West Palm Beach, West Palm Beach, FL for Sale
$2,320,000 USD
Apartments - FOR SALE
1/13
null | 1.4% Cap Rate

535-537 18th St, West Palm Beach
West Palm Beach, FL 33407
Pleasant City


HIGHLIGHTS

  • 16 Units Total w/15-Unit Apartment Building and Single Family Home Situated on 0.44 Acre Lot
  • Value Add Opportunity – Being Sold by the Family of the Original Developer of the Apartments
  • Tremendous Rental Upside with All Tenants on Month-to-Month Leases and $756 Average Rents
  • (7) One-Bedroom | One-Baths, (8) Two-Bedroom | One-Baths, Two-Bedroom | Two-Bath House
  • Easy Access to Dixie Highway (US-1), Palm Beach Lakes Boulevard and North Flagler Drive
  • Walking Distance to Padel Club, CVS, The District at Northwood, Good Samaritan Medical Center

OVERVIEW

The Thomas Team of Marcus & Millichap are pleased to present 535-537 18th Street, a 15-unit multifamily property and Single-Family Home located in West Palm Beach, Florida. SUBJECT PROPERTY 535-537 18th Street were constructed in 1927 (single family home) and in 1954 (apartment building). The apartment building consists of (7) one-bedroom/one-bathroom and (8) two-bedroom/one-bathroom units totaling 7,908 square feet, the single family home is a two-bedroom/two-bathroom floorplan with 1,212 square feet and the lot size is 0.44 acres, according to the Palm Beach County Property Appraiser. All units include either window and/or wall air-conditioning units, terrazzo floors and electric appliances. Common area amenities include on-site laundry and 17 parking spaces.

FOR SALE DETAILS

PRICE

$2,320,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

16

PRICE/UNIT

$145,000

CAP RATE

1.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

MF14

APN/PARCEL ID

74-43-43-16-16-010-0270

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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