Three-Building Multifamily
700 North Tamarind Avenue West Palm Beach, FL 33401
For Sale
Contact for pricing
21-unit multifamily portfolio with studio through three-bedroom layouts, on-site laundry, and paved parking in West Palm Beach.
Property Size15,477 SF
Price / SF$220.33
Days on Market52
Property Features for 700 North Tamarind Avenue
General Information
- Standard status
- Active
- Size
- 15,477 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Ethan Krauss · License #SL3552519
Source:
Crexi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 23 at 6:41AM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
The North Tamarind Avenue Portfolio consists of three two-story, concrete block apartment buildings with painted stucco exteriors and flat and shingle roofs. The property is configured with 21 units plus one non-conforming unit, including three studio apartments, five one-bedroom one-bath apartments, thirteen two-bedroom one-bath apartments, and one three-bedroom one-bath apartment. Unit amenities include wall air conditioning units, and residents have access to on-site laundry facilities. The portfolio also includes paved asphalt parking and sits on a 20,910-square-foot lot.
The buildings are located in West Palm Beach, Florida at 700 North Tamarind Avenue, 919 6th Street, and 925 6th Street. The location provides convenient access to Federal Highway (US-1) and Palm Beach Lakes Boulevard. The surrounding area includes employment and retail and entertainment destinations, as well as institutions and community amenities such as Clematis Street, City Place, and Good Samaritan Medical Center. Nearby transit is available at the West Palm Amtrak/TriRail Station.
This portfolio may be of interest to buyers seeking a small, multi-building rental asset with a mix of studio, one-, two-, and three-bedroom apartment layouts. The presence of on-site laundry and paved parking supports day-to-day resident needs across the property’s unit mix.
The buildings are located in West Palm Beach, Florida at 700 North Tamarind Avenue, 919 6th Street, and 925 6th Street. The location provides convenient access to Federal Highway (US-1) and Palm Beach Lakes Boulevard. The surrounding area includes employment and retail and entertainment destinations, as well as institutions and community amenities such as Clematis Street, City Place, and Good Samaritan Medical Center. Nearby transit is available at the West Palm Amtrak/TriRail Station.
This portfolio may be of interest to buyers seeking a small, multi-building rental asset with a mix of studio, one-, two-, and three-bedroom apartment layouts. The presence of on-site laundry and paved parking supports day-to-day resident needs across the property’s unit mix.
Key Highlights
- 21‑unit multifamily portfolio plus 1 non‑conforming unit in West Palm Beach, FL
- 3 two‑story concrete block buildings built between 1952–1964, totaling 15,477 SF on a 20,910 SF lot
- Unit mix: 3 studios, 5 one‑bedroom/1‑bath, 13 two‑bedroom/1‑bath, and 1 three‑bedroom/1‑bath plus 1 non‑conforming unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $514.5k | $33.24 |
| − Vacancy | −$24.7k | −$1.60 |
| EGI | $489.8k | $31.64 |
| − OpEx | −$220.4k | −$14.24 |
| NOI | $269.4k | $17.40 |
15,477 SF · lease $33.24/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,369 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.90M
$9.54M – $12.72M
NOI $762,984 @ 7.0% cap · market cap 22.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
700 N Tamarind ...
HVAC Service
FAQs
What type of property is this?
Apartment building - 21-unit multifamily portfolio with studio through three-bedroom layouts, on-site laundry, and paved parking in West Palm Beach.
Where is this apartment building located?
The property is located at 700 North Tamarind Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $3,410,000.
What are key features of this property?
This property features: 21‑unit multifamily portfolio plus 1 non‑conforming unit in West Palm Beach, FL; 3 two‑story concrete block buildings built between 1952–1964, totaling 15,477 SF on a 20,910 SF lot; Unit mix: 3 studios, 5 one‑bedroom/1‑bath, 13 two‑bedroom/1‑bath, and 1 three‑bedroom/1‑bath plus 1 non‑conforming unit
