Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market 17 condominiums located within the desirable Grand Isles Condominium Complex located off of North Haverhill Road in West Palm Beach, which is in Palm Beach County, Florida. The offering consists of 17 units, with a unit mix of four (4) 3 bedroom / 2-bathroom, eleven (11) 2 bedroom / 2-bathroom and two (2) 1 bedroom / 1-bathroom units. The Two- and Three- Bedroom floorplans are all over 1000 square feet with the 1- Bedroom floorplans nearly 900 square feet. There is a total of 320 condominium units within the complex with no single entity owning more than 15 percent of the units. The complex was built in 2000 with concrete block construction and a barrel tile roof. Every unit has central air throughout and washers and dryers in unit. All units have their own personal outdoor patio or balcony space. The complex sits on North Haverhill Road, just north of Roebuck Road, between Okeechobee Boulevard and 45th Street. The community is located across the street from Seminole Trails Elementary School and immediately next to the Publix anchored Paradise Place Shopping Center. Grand Isles is conveniently situated between two major highways, Interstate-95 and Florida’s Turnpike. The Grand Isles condominium portfolio offers an investor an excellent opportunity to purchase a bulk sale of 17 condo units being offered at $28,000/unit less than the average sale price of the 8 most recent individual unit sales in the community. The portfolio is currently stabilized offering excellent current cash flow with additional upside by increasing all rents to market rates in the city of West Palm Beach.