700 N Tamarind Ave & 916-925 6th Street
Multifamily portfolio of 22 units (21 conforming plus one non-conforming) across three West Palm Beach properties offered at $3,410,000 at a 6.63% cap ($226,041 NOI). The value-add opportunity comprises three two-story concrete block buildings constructed between 1952 and 1964, totaling 15,477 SF on a 0.48-acre lot in the heart of downtown West Palm Beach's revitalized urban core.
The portfolio features a diverse unit mix: three studios, five one-bedroom/one-bathroom, thirteen two-bedroom/one-bathroom, and one three-bedroom/one-bathroom unit, with current occupancy at 91%. On-site amenities include laundry facilities and paved parking. The three-property portfolio sits within walking distance of Clematis Street, Alice Mickens Park, and the Amtrak/Tri-Rail Station, with immediate access to Federal Highway (US-1) and Palm Beach Lakes Boulevard. Nearby anchors include CityPlace, the Palm Beach County Convention Center, Good Samaritan Medical Center, and Palm Beach International Airport, all within minutes. The location benefits from strong population growth and a thriving local economy in one of South Florida's fastest-growing urban markets.
Fee simple ownership is supported by an optional assumable Fannie Mae loan, making this an attractive entry point for value-add investors seeking repositioning upside in a prime downtown location.
- 22-unit portfolio across three buildings, 15,477 SF on 0.48 acres
- 6.63% cap rate with $226,041 NOI; 91% occupancy
- Walking distance to Clematis Street, Amtrak/Tri-Rail, and downtown amenities
- Optional assumable Fannie Mae loan
- Value-add opportunity in fast-growing West Palm Beach urban market
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The North Tamarind Avenue Portfolio is a multifamily investment opportunity comprising 21 legal units plus one non-conforming unit across three properties located at 700 North Tamarind Avenue, 919 6th Street, and 925 6th Street in West Palm Beach, Florida. Constructed between 1952 and 1964, the portfolio features three two-story concrete block buildings with approximately 15,477 square feet of rentable space situated on a 20,910-square-foot lot. The property offers a diverse unit mix of three studio apartments, five one-bedroom/one-bathroom units, thirteen two-bedroom/one-bathroom units, one three-bedroom/one-bathroom unit, and one additional non-conforming unit. Residents benefit from on-site laundry facilities, paved parking, and convenient access to Downtown West Palm Beach, Federal Highway (US-1), and Palm Beach Lakes Boulevard. The portfolio is within walking distance of Clematis Street, Alice Mickens Park, and the Amtrak/Tri-Rail Station, while also being close to CityPlace, the Palm Beach County Convention Center, Good Samaritan Medical Center, and Palm Beach International Airport. Supported by strong population growth, a thriving local economy, and an optional assumable Fannie Mae loan, this well-located asset presents an outstanding value-add investment opportunity in one of South Florida's fastest-growing urban markets.