Highlights of the proposal:
This proposal outlines the offering for sale and purchase of a fully approved "Boutique" rental community development property.
The property is ideal for real estate investors and/or a construction company looking for an opportunity “ready to build”, offering easy access to the best of three worlds: vibrant West Palm Beach downtown, the glitzy Town of Palm Beach, and the expanding western Palm Beach County metro area.
The Offering:
The seller is offering to sell this prime development property, complete with a fully approved site plan by Palm Beach County Planning and Building Department for 12 residential units plus additional retail/commercial space. The project includes, 10 1bedroom 1bath apartments, and 2 2bedrooms 2baths apartments, plus retail space. The site plan calls for covered parking under the three-story building and landscape open areas.
This apartment building will be ideal for those working in the Palm Beach vicinity, those who want to frequent the Downtown West Palm nightlife, or enjoy the beaches at Palm Beach, Riviera and Juno Beach. This location and it’s easy access to virtually all points of the Gold Coast of South Florida will provide full access to all of the great treasures this area has to offer.
The property skips expensive amenities like large foyers, pools to maintain, or tennis courts to keep up or other expensive amenities. The priority is an increased bottom line for a long-term owner.
Highest and Best Use:
Prime Development opportunity: Approved for Residential Rental or Condo Use.
The subject property has been approved by Palm Beach County Planning, Zoning, and all major governmental departments, for the construction of 12 residential units + Retail Space, located in one three-story building, with cover parking on the ground floor.
The Highest and Best Use has been determined by marketing due diligence to be a residential rental community for long term income and growth potential, or a condominiums resale property.
Additional Benefits:
• Approved site plans and project ready to build.: guaranteed density with time and costs saved.
• Flexible use options cater to different investment goals: Rental community for the short-term market influx, and Condominium conversion at a later date. This is a great opportunity to capitalize on the booming West Palm Beach, Palm Beach County and South Florida’s high demand residential markets.
