10-Property Multifamily
New
For Sale
$1,520,000
A-2907 Ashley Drive W, West Palm Beach, FL 33415
Renovated residences in 55+ communities are fully leased and feature screened porches, storage, and laundry access.
Property Size7,607 SF
Price / SF$199.82
Days on Market6
Property Features for A-2907 Ashley Drive W
General Information
Standard status
Active
Size
7,607 SF
Property subtype
Residential Income
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
Tenancy
Multi
Listing Agency:
Real - ativity
Listed By:
Elizabeth A Lewis · License #3256279
(561) 512-4682
Source:
Exprealty
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 27 at 3:40AM
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 residential portfolio comprises 10 renovated units with a combined 7,607 square feet. The mix includes two 2-bedroom/2-bathroom units, two 2-bedroom/1-bathroom units, one 1-bedroom/2-bathroom unit, and five 1-bedroom/1-bathroom 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 properties are fully leased and located in 55+ communities in Palm Beach County.
The offering is structured as a transfer of membership interests in a single LLC, consolidating the portfolio into one transaction rather than individual deed transfers. The stated cap rate is 6.9%.
The offering is structured as a transfer of membership interests in a single LLC, consolidating the portfolio into one transaction rather than individual deed transfers. The stated cap rate is 6.9%.
Key Highlights
- 10 renovated units totaling 7,607 square feet
- Unit mix: two 2‑bedroom/2‑bathroom, two 2‑bedroom/1‑bathroom, one 1‑bedroom/2‑bathroom, and five 1‑bedroom/1‑bathroom units
- Fully leased properties 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.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
917
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Renovated residences in 55+ communities are fully leased and feature screened porches, storage, and laundry access.
Where is this multifamily property located?
The property is located at A-2907 Ashley Drive W 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 renovated units totaling 7,607 square feet; Unit mix: two 2‑bedroom/2‑bathroom, two 2‑bedroom/1‑bathroom, one 1‑bedroom/2‑bathroom, and five 1‑bedroom/1‑bathroom units; Fully leased properties in Palm Beach County 55+ communities
