10-Unit Multifamily
New
For Sale
$1,520,000
2907 ASHLEY Drive W #A, West Palm Beach, FL 33415
The fully occupied portfolio spans 55+ communities in Palm Beach County and is offered through a single LLC membership-interest transfer.
Property Size7,607 SF
Price / SF$199.82
Days on Market4
Property Features for 2907 ASHLEY Drive W #A
General Information
Standard status
Active
Size
7,607 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
RM
Occupancy
100%
Net Operating Income
$105,072
Units
Unit Mix
2 x 2BR/2BA, 2 x 2BR/1BA, 1 x 1BR/2BA, 5 x 1BR/1BA
Multifamily Units
10
Additional Details
Cap Rate
6.9%
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$20,601
Amenities
screened porches
additional storage
laundry
Building Details
Building Size
7,607 SF
Year Built
1968
Stories
2
Tenancy
Multi
Listing Agency:
Real - ativity
Listed By:
Elizabeth A Lewis · License #3256279
(561) 512-4682
Source:
Laerrealty
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 12:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real - ativity
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Investment Insights
Based on property information with market context.
This 10-property multifamily portfolio totals 7,607 square feet and includes a mix of renovated one- and two-bedroom residences. The unit mix comprises two 2-bedroom/2-bath units, two 2-bedroom/1-bath units, one 1-bedroom/2-bath unit, and five 1-bedroom/1-bath units. Each residence has a screened porch and additional storage; laundry is either in the unit or in a separate laundry room within 50 feet. The units are fully leased in 55+ communities in Palm Beach County, with established tenants who do not keep pets.
The portfolio is held by a single LLC and is being offered through a membership-interest sale, consolidating the ten property acquisitions into one transaction without individual deed transfers. The stated cap rate is 6.9%.
The portfolio is held by a single LLC and is being offered through a membership-interest sale, consolidating the ten property acquisitions into one transaction without individual deed transfers. The stated cap rate is 6.9%.
Key Highlights
- 10‑property portfolio with 7,607 square feet
- Unit mix: two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, one 1‑bedroom/2‑bath, and five 1‑bedroom/1‑bath residences
- Fully leased units in Palm Beach County 55+ communities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,396
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,647,920
$2.6M
Cap Rate 7%
$1,891,371
$1.9M
Cap Rate 9%
$1,471,067
$1.5M
Market Conditions
NOI Build-Up for 7,607 SF
Gross rent
$252.9K $33.24/SF
− Vacancy
−$12.1K −$1.60/SF
EGI
$240.7K $31.64/SF
− OpEx
−$108.3K −$14.24/SF
NOI
$132.4K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,647,920
Cap Rate 7%
$1,891,371
Cap Rate 9%
$1,471,067
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.21M
NOI $132,396 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.36M
$4.69M – $6.25M
NOI $375,009 @ 7.0% cap · market cap 24.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
Explore this area
Business Placement
Demographics for 33415, FL
51,251
Population
20,364
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
7.3 sq mi
ZIP Area
7,021
Density / Sq Mi
$57,199
Median Household Income
$35,146
Median Earnings
$1,597
Median Rent
$220,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The fully occupied portfolio spans 55+ communities in Palm Beach County and is offered through a single LLC membership-interest transfer.
Where is this multifamily property located?
The property is located at 2907 ASHLEY Drive W #A West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: 10‑property portfolio with 7,607 square feet; Unit mix: two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, one 1‑bedroom/2‑bath, and five 1‑bedroom/1‑bath residences; Fully leased units in Palm Beach County 55+ communities
