Multifamily

Serendipity Village Apartments

1002 9th Ave N, Lake Worth, FL 33460

Listing Price: $2,750,000

Cap Rate
4.30%
Number of Units
12
GRM
12.73
Occupancy
95.0%
Price/Unit
$229,167
Price/Gross SF
$218.25
Gross SF
12,600

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer the rare opportunity to acquire Serendipity Village Apartments, a brand new 12-unit
apartment building located in Lake Worth, Florida. The construction was completed in 2020 and leasing commenced in June of this year.

Serendipity Village Apartments consists of two three-story, concrete block buildings built in 2020 and sits on a .46-arce site East of Interstate 95, South
of 10th Avenue North and West of North Dixie Highway on the corner of 9th Avenue North and North H Street in a residential area. The unit mix consists
of 12 two-bedroom two-bath units, each unit on the first floor has a patio and units on the second and third floors have balconies. The square footage of
each unit is 1,050 square feet, which does not include the balcony or patio. All apartments have central heating and air-conditioning, separate hot water
heaters, stackable washer and dryers, open floor plans, kitchens have large granite counter tops with bar stool seating, tile flooring throughout, and impact glass windows. Apartments are separately metered for water and electricity, while trash removal is included in the rent. The property offers a gazebo for tenants to enjoy, which is located between the two buildings. There is a total of 17 on-site parking spaces, which includes one handicap parking space as well as street parking.

Serendipity Village Apartments offers investors the rare opportunity to acquire a newly constructed apartment building with an excellent unit mix of all
two-bedroom two-bath units, with separate water meters. Also, the property is approximately a mile and a half from downtown Lake Worth, which offers
nightlife, shopping and dining. Furthermore, Lake Worth Beach is just over two miles from the property.

Investment Highlights

  • All Two Bedroom Two Bath Units
  • Excellent Open Floor Plans
  • Separate Water Meters
  • Impact Glass Windows /Central Air-Conditioning
  • Each Unit has a Patio or Balcony
  • New Construction

Exclusively Listed By

Multifamily

Serendipity Village Apartments

Listing Price: $2,750,000

Cap Rate
4.30%
Number of Units
12
GRM
12.73
Occupancy
95.0%
Price/Unit
$229,167
Price/Gross SF
$218.25
Gross SF
12,600

Investment Highlights

  • All Two Bedroom Two Bath Units
  • Excellent Open Floor Plans
  • Separate Water Meters
  • Impact Glass Windows /Central Air-Conditioning
  • Each Unit has a Patio or Balcony
  • New Construction

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer the rare opportunity to acquire Serendipity Village Apartments, a brand new 12-unit
apartment building located in Lake Worth, Florida. The construction was completed in 2020 and leasing commenced in June of this year.

Serendipity Village Apartments consists of two three-story, concrete block buildings built in 2020 and sits on a .46-arce site East of Interstate 95, South
of 10th Avenue North and West of North Dixie Highway on the corner of 9th Avenue North and North H Street in a residential area. The unit mix consists
of 12 two-bedroom two-bath units, each unit on the first floor has a patio and units on the second and third floors have balconies. The square footage of
each unit is 1,050 square feet, which does not include the balcony or patio. All apartments have central heating and air-conditioning, separate hot water
heaters, stackable washer and dryers, open floor plans, kitchens have large granite counter tops with bar stool seating, tile flooring throughout, and impact glass windows. Apartments are separately metered for water and electricity, while trash removal is included in the rent. The property offers a gazebo for tenants to enjoy, which is located between the two buildings. There is a total of 17 on-site parking spaces, which includes one handicap parking space as well as street parking.

Serendipity Village Apartments offers investors the rare opportunity to acquire a newly constructed apartment building with an excellent unit mix of all
two-bedroom two-bath units, with separate water meters. Also, the property is approximately a mile and a half from downtown Lake Worth, which offers
nightlife, shopping and dining. Furthermore, Lake Worth Beach is just over two miles from the property.

Exclusively Listed By

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