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100 Sparrow Dr
Royal Palm Beach, FL 33411 Royal Palm Bch/Wellington

$6,750,000 USD

Apartments For Sale  •  31,493 SF

Property Details

  • Property Type Apartments
  • Total Building Size 31,493 SF
  • Lot Size 2.5 AC
  • Building Class C
  • Year Built 1980
  • Cap Rate 5.72 %
  • Zoning RM-12
0 Transit Score
11 Walk Score

Highlights

20 Out of 21 Townhomes Offered for Sale - Highly Sought-After Royal Palm Beach Rental Market - Close Proximity to Employment, Shopping, and Schools
Only Rental Buildings Between 20 & 199 Units in the City -Rare Ownership Turnover Within the Submarket -Directly Across the Street from Veteran’s Park
100 Percent Three-Bedroom with Two Bathroom Apartments - 75 Percent Two-Story Townhome Style Apartment - Gated Swimming Pool
Situated in a Quiet, Middle-Class Residential Neighborhood - Massive Apartments Averaging 1,575 Rentable Square Feet - Over 2:1 Parking Ratio
In Place Rents Approximately $250 Below the Market - Individually Parceled for Future Sell-Out Exit Strategy. - Washer and Dryer in All Apartments
Most Roofs Recently Replaced - Assumable 4.7 Percent Fixed Interest Rate Financing - 1980 Wood and Concrete Construction on a 2.5 Acre Site

Property Flyers

Financial Summary (Actual)

Net Operating Income: $385,935 USD (2024)
Cap Rate: 5.72 %
Total Expenses: $225,524 USD

Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Pool
  • Washer/Dryer
  • Ceiling Fans
  • Tile Floors
  • Granite Countertops
  • Vaulted Ceiling
  • Views
  • Walk-In Closets
  • Sundeck
  • Patio
  • Vinyl Flooring

Public Transportation

AirportDriveWalkDistance
Palm Beach International 18 min - 9.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 43
Type: Surface
Included in Rent: Yes
Evan Kristol 954-245-3459 Marcus & Millichap
Evan Kristol 954-245-3459 Marcus & Millichap