Investment Overview

Marcus & Millichap is pleased to present the Northwood Kathryn Apartments, a six-unit multifamily property located in the heart of the rapidly redeveloping Northwood neighborhood of West Palm Beach, Florida. The property consists of two buildings: a two-story frame structure built in 1928 housing four units, and a one-story concrete building constructed in 1954 with two units. Together, they total 4,562 square feet of rentable space on a 0.16-acre lot. The unit mix includes one two-bedroom/one-bathroom unit (1,062 SF) and five one-bedroom/one-bathroom units (approximately 700 SF each). Four units features central air conditioning and two units have wall unit air conditioning; all units are separately metered for electricity. Both buildings have flat roofs and maintain a low-density layout offering a unique blend of historic charm and modern upgrades. The property benefits from its location within the historic Old Northwood District, just north of Downtown West Palm Beach. The area is undergoing significant revitalization, including major residential and mixed-use developments such as The District at Northwood and The Spruce, which will bring hundreds of new residential units and thousands of square feet of retail space to the neighborhood. Northwood Village’s walkable arts and dining scene continues to attract investment and new residents. Additionally, the property is just minutes from Downtown West Palm Beach, CityPlace, Clematis Street, and Palm Beach Island, as well as major transit corridors like I-95 and US-1. With its mix of one and two-bedroom units, clear cash flow, and strong neighborhood desirability within one of the city’s fastest-growing submarkets, Northwood Kathryn Apartments presents investors with a strong in-place income stream and the opportunity to benefit from continued rental growth and long-term appreciation driven by the area’s transformation.