Multifamily
Bottlebrush & Palm Point Apartments
1640 Bottlebrush Dr, Palm Bay, FL 32905
Listing Price: $13,000,000
Investment Overview
Marcus & Millichap, as exclusive listing agent, is proud to present to market the Bottle Brush & Palm Point Apartments located at 1640 & 1700 Bottlebrush Drive, Palm Bay which is in Brevard County, Florida. The property consists of 29 studio units, 48 one- bedroom / one- bathroom units, and 20 two- bedroom / one- bathroom units.
The Bottlebrush and Palm Point Apartments is comprised of 13 buildings over two contiguous parcels (28-37-22-00-00014.0-0000.00, 28-37-22-00-00016.0-0000.00) totaling 4.93 acres. 50 units are located at 1640 Bottlebrush and the other 48 units are located at 1700 Bottlebrush Dr. Both properties were built with wood frame construction with majority containing PTAC air conditioning units. They were constructed in 1977 & 1978 with PVC piping and copper wiring.
Located on the north side of Palm Bay Road, the asset sits between South Babcock Street and Dixie Highway which contains all of the area’s well-known retail and restaurants. The property also has fantastic proximity to Interstate 95, as well as the Melbourne Orlando International Airport.
The Bottlebrush and Palm Point Apartments offers tremendous upside by increasing rents to market rates through the utilization of on-site management in the vastly growing Brevard County market. Direct comparable nearby cardinal construction properties are achieving 25% higher rates.
Bottlebrush & Palm Point Apartments
Investment Highlights
- Excellent Unit Mix Consisting of Studios, One- and Two-Bedroom Units
- Seller Financing Is Available
- Can Be Sold Together or Separate
- Close Proximity to Melbourne Orlando International Airport
- 1977 & 1978 Construction With PVC Piping and Copper Wiring
- 70% of Units Have Been Fully Remodeled Over the Last Two Years
- Two Large Laundry Room On-Site
Listing Price: $13,000,000
Investment Highlights
- Excellent Unit Mix Consisting of Studios, One- and Two-Bedroom Units
- Seller Financing Is Available
- Can Be Sold Together or Separate
- Close Proximity to Melbourne Orlando International Airport
- 1977 & 1978 Construction With PVC Piping and Copper Wiring
- 70% of Units Have Been Fully Remodeled Over the Last Two Years
- Two Large Laundry Room On-Site
Investment Overview
Marcus & Millichap, as exclusive listing agent, is proud to present to market the Bottle Brush & Palm Point Apartments located at 1640 & 1700 Bottlebrush Drive, Palm Bay which is in Brevard County, Florida. The property consists of 29 studio units, 48 one- bedroom / one- bathroom units, and 20 two- bedroom / one- bathroom units. The Bottlebrush and Palm Point Apartments is comprised of 13 buildings over two contiguous parcels (28-37-22-00-00014.0-0000.00, 28-37-22-00-00016.0-0000.00) totaling 4.93 acres. 50 units are located at 1640 Bottlebrush and the other 48 units are located at 1700 Bottlebrush Dr. Both properties were built with wood frame construction with majority containing PTAC air conditioning units. They were constructed in 1977 & 1978 with PVC piping and copper wiring. Located on the north side of Palm Bay Road, the asset sits between South Babcock Street and Dixie Highway which contains all of the area’s well-known retail and restaurants. The property also has fantastic proximity to Interstate 95, as well as the Melbourne Orlando International Airport. The Bottlebrush and Palm Point Apartments offers tremendous upside by increasing rents to market rates through the utilization of on-site management in the vastly growing Brevard County market. Direct comparable nearby cardinal construction properties are achieving 25% higher rates.
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