1000 Palm Trl - Apartments FOR SALE


Delray Beach, FL 33483
$6,000,000 USD
954-245-3492
1000 Palm Trl, Delray Beach, FL for Sale
$6,000,000 USD
Apartments - FOR SALE
1/11
null | 4.91% Cap Rate

1000 Palm Trl
Delray Beach, FL 33483


HIGHLIGHTS

  • Excellent East Delray Beach Location, One Mile North of Downtown Delray
  • Surrounded by New Townhomes Selling for $2.5 – 3 Million +
  • Originally Built in 1972 (Structural Walls), Completely Reconstructed in 2009/2010
  • (11) Two Bedroom Townhomes and (1) Three Bedroom Townhome (1,220 AVG SF)
  • Proximate to CVS, Publix (North Delray Commons), Atlantic Crossing & Veterans Park
  • $158,171 Average Household Income Within 1-Mile and 23.8% above $200,000

OVERVIEW

The Courtyard Townhomes at Palm Trail is comprised of (12) two-and-three-bedroom townhomes located in one of the most sought after neighborhoods in Downtown Delray Beach. The property was originally constructed in 1972 of concrete block and stucco. Current ownership acquired the property out of foreclosure in 2009 and completely reconstructed the building from 2009 - 2010 (leaving only the structural walls). That reconstruction included a new façade with the addition of balconies and patios, new interiors, a new flat roof, new windows and doors, new plumbing and electricity, as well as a new courtyard with swimming pool and sundeck. The Courtyard Townhomes at Palm Trail contains 14,644 adjusted square-feet and encompasses a 23,575 square-foot lot, according to the Palm Beach County Property Appraiser. The unit mix consists of (1) two-bedroom | one-and-a-half-bathroom unit with an in-place rent of $2,625 per month, (10) two-bedroom | two-and-a-half-bathroom units with an average in-place rent of $3,064 and (1) three-bedroom | two-and-a-half-bathroom unit with an in-place rent of $3,100 per month. Each unit has its own washer and dryer, as well as a private gated patio. Common area amenities include a large pool area with grill, ample parking and bicycle storage.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$410 USD /SF

# OF UNITS

12

PRICE/UNIT

$500,000

CAP RATE

4.91%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,575 SF

ZONING

RM

APN/PARCEL ID

12-43-46-09-08-002-0260

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.