Park Place Apartments Lake Park, Florida 200 Park Ave 22 Unit Apartment Building $6,821,471 CAD ($310,067 CAD/Unit) West Palm Beach, FL 33403

Union Street Partners is pleased to present the exclusive offering of a 22-unit value-add multifamily property located at 200 Park Avenue in Lake Park, Florida. The asset is situated on a rare ±55,321 SF parcel in a desirable coastal infill location and consists of 11 buildings featuring a mix of apartment units and detached cottage-style homes. The property also includes 16 garages generating $36,000 in additional annual income, providing a supplemental revenue stream.
The property is 100% occupied with below-market rents, offering investors a clear and immediate mark-to-market opportunity. Rental comps in the surrounding area indicate strong potential for income growth through strategic rent increases and operational improvements.
Multifamily assets of this size with excess land in Palm Beach County are increasingly limited, particularly in supply-constrained submarkets near North Palm Beach and Downtown West Palm Beach. Investor demand for value-add opportunities in South Florida remains strong.
Palm Beach County population growth is forecasted to increase by 65,000 residents through 2030. Local submarkets East of I-95 are experiencing the highest growth. Palm Beach County's outlook is highly positive, characterized as a booming, "AAA" rated economic hub with significant growth in wealth migration, business expansion, and tourism. This offering represents a compelling opportunity to acquire scale, stable income, and long-term upside in one of the most sought after investment markets in the Country.