Value Add Garden Style MF/ A+ Location 640 SE 2nd Ave 24 Unité Immeuble d’appartements 8 232 956 $ CAD (343 040 $ CAD/Unité) 6,58% Taux de capitalisation Boynton Beach, FL 33435

ONE Commercial Real Estate is pleased to present The Palms, a 24-unit garden-style multifamily community located in prime Boynton Beach, Florida, just steps from the Atlantic Ocean and surrounded by significant ongoing and planned development, restaurants, and marina. The property features a desirable unit mix of 20 one-bedroom units and 4 spacious two-bedroom units, catering to consistent renter demand in this coastal submarket. The asset also includes an additional ±1,000 SF CBS structure, currently utilized as owner storage/garage, offering a unique opportunity for ancillary income generation through storage, amenities or potential unit conversion.
The Palms boasts an exceptional location, with close proximity to South Federal Highway and Ocean Avenue, providing direct access to the
beach. Residents enjoy immediate access to premier local amenities including Oceanfront Park, Boynton Harbor Marina, and well-known
waterfront dining destinations such as Two Georges and Banana Boat. The Boynton Beach submarket continues to experience strong population growth and economic expansion, driven by its strategic location between Downtown Delray Beach and West Palm Beach. This positioning supports sustained rental demand and long-term appreciation.
The Palms represents a rare opportunity to acquire a well-maintained, stabilized asset with no deferred maintenance, allowing investors to focus immediately on revenue growth and operational upside rather than capital-intensive improvements. Current rents remain below market, presenting a clear path to upon increases, interior upgrades, and ancillary income strategies. With its premier coastal location, clean physical condition, and embedded upside, The Palms offers a compelling stabilized value-add investment opportunity in one of South Florida’s most desirable and supply-constrained rental markets