Bayberry Apartments — Sale in Lake Park, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Lake Park, FL 33403

Investment Figures

Cap rate
6.60%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Bayberry Apartments, a 16-unit multifamily investment opportunity located across two contiguous parcels at 218 7th Street and 710 Bayberry Drive in Lake Park, Florida. The offering consists of a 12-unit apartment building constructed in 1975 totaling approximately 10,486 square feet situated on 0.47 acres, and a four-unit building constructed in 1958 totaling approximately 2,781 square feet on 0.32 acres, for a combined site area of approximately 0.79 acres. Both buildings are constructed of concrete block. The property features a unit mix consisting of eleven (11) one-bedroom / one-bathroom units, four (4) two-bedroom / one-and-a-half bathroom units and one (1) two bedroom / two-bathroom units serviced by a combination of central air conditioning and window-unit systems. The 12-unit building is improved with a flat roof structure, while the four-unit building features a pitched composite shingle roof. Bayberry Apartments is located in the Town of Lake Park in northern Palm Beach County, with convenient access to major transportation corridors including U.S. Highway 1, Northlake Boulevard, and Interstate 95. The property’s location provides connectivity to the surrounding employment and retail centers of Palm Beach Gardens, Riviera Beach, and Downtown West Palm Beach. The immediate area offers a variety of shopping, dining, and waterfront amenities along the Intracoastal Waterway. Bayberry Apartments presents investors with the opportunity to acquire a 16-unit multifamily asset positioned across two parcels in a well-connected Palm Beach County location with access to major economic drivers and regional demand centers. Investment Highlights: • 16 Units Across Two Contiguous Parcels Totaling Approximately 0.79 Acres • Excellent Unit Mix Consisting of Spacious 1- and 2-Bedroom Floor Plans • Impact Windows and Central A/C Installed Throughout the Majority of the Property • Located Near Us-1, Northlake Boulevard, And I-95 With A

Market Context

This multifamily in Lake Park, FL is listed for sale. It is offered at an approximate 6.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Lake Park, FL — view the full market.

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