23-Unit Singer Island Multifamily Portfolio
Listing was updated at: 01/02/2019
Property Overview
Price/Rent PSF $ 9,500,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 17,864
Date Available 01/02/2019
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Description

Location
Located directly on the southern tip of Singer Island along the Palm Beach Inlet. Singer Island is a barrier island with deep water inlet and ocean access. There is world class fishing from several marinas, including Sailfish Marina and Cannonsport Marina. Close proximity to shopping, golf, dining, arts and entertainment.

Sale
New SVN Income-Producing Multifamily, Single-Family Guest Cottages, or Redevelopment Opportunity. Singer Island Portfolio of three separate multi-family parcels. Together, the properties contain a total of 23-units which span 225± feet along The Palm Beach Inlet. They can be acquired separately or together as the portfolio.

150 Inlet Way contains a total of seven units. This multi-family property includes two buildings: the front building contains four studios, and the rear building contains three larger units, one unit being on the second floor.

200 Inlet Way contains a total of six units. This multi-family property includes two one-bedroom units in the front, three studios in the middle, and one large unit at the rear of the property.

206 Inlet Way contains a total of ten units. Renovations are underway for units 2, 3 & 4. This multi-family property includes four studios, five one-bedroom units, one unit being on the second floor, and one two-bedroom unit.

Each parcel includes a swimming pool, and gorgeous, unobstructed view of the Palm Beach Inlet, Atlantic Ocean, and the Island of Palm Beach. The total building size for all three parcels is 17,864± SF. Current zoning permits 60,000± of build-able square feet across the three parcels.

Receive significant cash flow while proceeding with a redevelopment plan. Land use includes hotel or motel, single-family and multi-family residential. Redevelopment options include an increase to a 40±-unit multifamily development project, or a 74±-unit hotel.

Location