• listing
  • MULTI-FAMILY
640 SE 2ND Ave Boynton Beach, FL 33435
  • MULTI-FAMILY
  • 5,950,000
  • 5.7%% Cap Rate

MULTI-FAMILY

ONE Commercial Real Estate is pleased to present The Palms, a prime opportunity to purchase a 24 unit garden-style community located in prime Boynton Beach, Florida, just steps from the beach!

The Palms is comprised of an ideal unit mix of twenty one-bed units, four spacious two-bed units, a separate garage building which can be converted/rented for ancillary income such as storage, garage space, possible additional unit.

The property benefits from excellent proximity to the S. Federal Hwy corridor, where the annual average daily traffic count exceeds 22,500 vehicles per day. In addition, proximity to the Ocean Avenue thoroughfare connects the property to beach access, including exceptional public amenities like Ocean Front Park and Boynton Harbor Marina, and south Florida staple restaurants such as Two Georges and The Banana Boat.

The Boynton Beach neighborhood has seen tremendous growth with its mix of cultural vibrance, favorable location, and close proximity to Downtown Delray Beach and West Palm beach. Both visitors and residents enjoy accessing all the amenities offered by Boynton Beach. With its prime location and solid structure, The Palms delivers a competitive product to the market, capable of outperforming comparable options within the growing segment and positioning itself as a generational asset.


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Alexis
Shapiro
Multifamily Advisor

Property Info

  • Palm Beach
    County
  • 1967
    PROPERTY AGE
  • Annual Rentals
    CURRENT USE
  • .80 Acres
    LOT SIZE
  • 24
    TOTAL UNITS
  • 15,879 SF
    GROSS LEASABLE AREA (GLA)
  • 5.7%
    PRO FORMA CAP RATE
  • 36 Spaces 1.5 per Unit
    PARKING SPACES
  • $5,950,000
    ASKING PRICE

Location

640 SE 2ND Ave,
Boynton Beach, FL 33435

Contact

contact Alexis
954.573.4449
3250 Mary Street, Suite 520
Coconut Grove, FL 33133

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