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700 N Tamarind AveWest Palm Beach, FL 33401
Tamarind Apartments
Asset ClassMultifamily
Deal Size$3.8 M
# Buildings: 3# Units: 21Access Data Room
overview of deal

Overview

Discover an exceptional investment opportunity at Tamarind Apartments, a multi-family gem in the sought-after West Palm Beach area. This impressive 15,477 SF portfolio, spanning 3 properties on a combined 0.48 acres and featuring 21 + 1 Non Conforming unit, perfectly positioned for investors seeking a prime addition to their portfolio. Built with historic charm and zoned NWD 5 + NWD 1, this property presents a blend of timeless character and modern potential. With 100% occupancy, this investment promises immediate returns and long-term growth potential.

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Investment Highlights

  • Opportunity to Acquire 3 Fully Occupied, Value-Add Multifamily Asset in Rapidly Growing West Palm Beach.
  • Property Has Been Owned and Operated by Current Owner for Over 7 Years
  • Capital Improvements Include but not Limited to Updated Kitchens, Flooring, Bathrooms, Electrical Panels, Hot Water Heaters, Parking Resurfacing, Painted, Weather Sealed, etc. More than $550,000 in Capital Improvements.
  • Diverse Unit Mix and Spacious Units Consisting Of (3) Studios, (5) 1 Bed 1 Bath, (12) 2 Bed 1 Bath, (1) 3 Bed 1 Bath
  • Northwest District 5 & 1 Zoning Provides Future Redevelopment Potential
  • Potential Opportunity for an Assumable interest-only loan of $1.718M at a 4.67% interest rate, with approximately 7 years remaining
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700 N Tamarind AveWest Palm Beach, FL 33401

Sales Team

Alexander GerdakSenior Associate(954) 487-1100alex.gerdak@franklinst.com
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Listing provided by Revere CRE