Log In/Sign Up
Your email has been sent.
1801 Spruce Ave
West Palm Beach, FL 33407
Spruce Apartments · Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- 1 & 2-Story Buildings, Comprised of 18 Units Originally Constructed in 1925 & 1959
- Units Feature Tile Flooring, Stainless Steel Appliances and Updated Kitchens & Bathrooms
- Walking Distance to The Padel Club, CVS, The Nora District and the District at Northwood
- Unit Mix Consists of (15) 1 Bedroom – 1 Bathrooms and (3) 2 Bedroom – 1 Bathrooms
- Common Area Amenities Include On-Site Laundry and Large Gated Courtyard
- Proximate to Federal Highway (US-1), Palm Beach Lakes Boulevard and Dixie Highway
EXECUTIVE SUMMARY
The Thomas Team of Marcus & Millichap are pleased to present Spruce Apartments, an 18-unit multifamily property located in West Palm Beach, Florida.
Spruce Apartments were constructed in 1925 and 1959 of concrete block and painted stucco with a flat roof. The property consists of (15) one-bedroom/one-bathroom units and (3) two-bedroom/one-bathroom units, totaling 7,930 square feet of gross building area and approximately 7,650 square feet of rentable area. The property is situated on a 13,068-square-foot lot, according to the Palm Beach County Property Appraiser.
Units feature modern interiors with tile flooring, stainless steel appliances, and updated kitchens and bathrooms. All units also include either window/wall air-conditioning units or mini splits. Common area amenities include on-site laundry, and large gated courtyard.
Spruce Apartments were constructed in 1925 and 1959 of concrete block and painted stucco with a flat roof. The property consists of (15) one-bedroom/one-bathroom units and (3) two-bedroom/one-bathroom units, totaling 7,930 square feet of gross building area and approximately 7,650 square feet of rentable area. The property is situated on a 13,068-square-foot lot, according to the Palm Beach County Property Appraiser.
Units feature modern interiors with tile flooring, stainless steel appliances, and updated kitchens and bathrooms. All units also include either window/wall air-conditioning units or mini splits. Common area amenities include on-site laundry, and large gated courtyard.
PROPERTY FACTS Under Contract
| Price Per Unit | $238,442 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.09% | Lot Size | 0.30 AC |
| Gross Rent Multiplier | 10.65 | Building Size | 7,930 SF |
| No. Units | 18 | Average Occupancy | 89% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | MF14, Palm Beach - Multi-Family Low density | ||
| Price Per Unit | $238,442 CAD |
| Sale Type | Investment |
| Cap Rate | 5.09% |
| Gross Rent Multiplier | 10.65 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 7,930 SF |
| Average Occupancy | 89% |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | MF14, Palm Beach - Multi-Family Low density |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Kitchen
SITE AMENITIES
- Laundry Facilities
- Gated
- Zen Garden
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | $1,627 CAD | 400 |
| 2+1 | 3 | $2,250 CAD | 550 |
PROPERTY TAXES
| Parcel Number | 74-43-43-16-16-012-0181 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,655,369 CAD |
PROPERTY TAXES
Parcel Number
74-43-43-16-16-012-0181
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,655,369 CAD
1 of 29
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
