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Multifamily

Bayberry Apartments

218 7th St, Lake Park, FL 33403

Listing Price: $2,600,000

Cap Rate
5.78%
Number of Units
16
Occupancy
96.0%
Price/Unit
$162,500
Price/Gross SF
$194.93
Gross SF
13,338

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market the Bayberry Apartments which is located at 218 7th St & 710 Bayberry Drive, Lake Park, which is in Palm Beach County, Florida. The property consists of 11 one- bedroom / one- bathroom units, four (4) two- bedroom / one and a half- bathroom units, and one (1) two- bedroom / two- bathroom unit. The Bayberry Apartments is comprised of two buildings over two contiguous parcels (36-43-42-20-01-054-0360 and 36-43-42-20-01-054-0320) totaling .79 acres. The 12 units located at 218 7th St was constructed in 1975 while the four units located at 710 Bayberry Drive was constructed in 1958. Both buildings were built of concrete block construction and 218 7th St has central air-conditioning throughout while 710 Bayberry Drive has wall unit air conditioners. Located on the corner of Bayberry Drive and 7th St, the asset sits between Northlake Boulevard and Blue Heron Boulevard which contains all of the area's well known retail and restaurants. Located approximately a one mile east of Interstate 95, the property also benefits from its close proximity to the highway. The Bayberry Apartments provides an investor an excellent opportunity to purchase a cash-flowing multifamily asset that is over 20% under market in rents in the desirable West Palm Beach market.

Investment Highlights

  • Excellent Unit Mix Consisting of Spacious One and Two Bedroom Units
  • Ability to Increase Rents to Market Rates
  • Located in the Densely Populated West Palm Beach Rental Market

Exclusively Listed By

Financing By

Multifamily

Bayberry Apartments

Listing Price: $2,600,000

Cap Rate
5.78%
Number of Units
16
Occupancy
96.0%
Price/Unit
$162,500
Price/Gross SF
$194.93
Gross SF
13,338

Investment Highlights

  • Excellent Unit Mix Consisting of Spacious One and Two Bedroom Units
  • Ability to Increase Rents to Market Rates
  • Located in the Densely Populated West Palm Beach Rental Market

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market the Bayberry Apartments which is located at 218 7th St & 710 Bayberry Drive, Lake Park, which is in Palm Beach County, Florida. The property consists of 11 one- bedroom / one- bathroom units, four (4) two- bedroom / one and a half- bathroom units, and one (1) two- bedroom / two- bathroom unit. The Bayberry Apartments is comprised of two buildings over two contiguous parcels (36-43-42-20-01-054-0360 and 36-43-42-20-01-054-0320) totaling .79 acres. The 12 units located at 218 7th St was constructed in 1975 while the four units located at 710 Bayberry Drive was constructed in 1958. Both buildings were built of concrete block construction and 218 7th St has central air-conditioning throughout while 710 Bayberry Drive has wall unit air conditioners. Located on the corner of Bayberry Drive and 7th St, the asset sits between Northlake Boulevard and Blue Heron Boulevard which contains all of the area's well known retail and restaurants. Located approximately a one mile east of Interstate 95, the property also benefits from its close proximity to the highway. The Bayberry Apartments provides an investor an excellent opportunity to purchase a cash-flowing multifamily asset that is over 20% under market in rents in the desirable West Palm Beach market.

Exclusively Listed By

Financing By

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