Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to present The Palms Residences, a 22-unit multifamily property located in Riviera Beach, Florida. Built in 1957, this well-maintained building has a brand new roof and spans 16,972 square feet and sits on a 0.52-acre lot. The unit mix includes 6 one-bedroom/one-bathroom units at 695 square feet and 16 two-bedroom/one-bathroom units at 800 square feet. With its strategic location and enduring appeal, The Palms Residences offers a compelling investment opportunity in a growing market. Situated at 2701 Avenue E, the property is ideally positioned near key economic and lifestyle drivers. The Port of Palm Beach, located just two miles away, serves as a significant employment hub, alongside Riviera Beach Marina Village, which is less than two miles from the property and offers vibrant dining, retail, and recreational options. Residents also enjoy proximity to beautiful beaches, only 2.5 miles away, and the world-class shopping and dining available in nearby Palm Beach Gardens. Educational institutions, including Suncoast Community High School, are within close reach, further enhancing the property’s appeal to families. The Palms Residences represents an exceptional value-add opportunity. The spacious layouts and central location ensure strong tenant demand, while the property’s concrete block construction and brand new roof offer insurance benefits. Investors can capitalize on Riviera Beach’s growing rental market and redevelopment initiatives to achieve both steady cash flow and long-term capital appreciation.