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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
High-rise multifamily apartments
2100 Australian Ave West Palm Beach, FL 33407-5695
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-9929409
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1973
Construction
CONCRETE
Total area
69,388 SF
Lot
5.22 ac (227,305 SF)
Zoning code
MF32
APN
74-43-43-09-11-002-0010
UPID
US18-9929409
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Azalea Place Apartment LLC Apartment Building
-
Lakeview Tower Apartments Apartment Building
-
Lake Mangonia Apartment Complex
-
jays helping hands services llc (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.62M
Owner & transaction history
Palm Grove Affordable LLC · 8 yrs held
Palm Grove Affordable LLC
since 2018
7 recorded transactions
Zoning & alternative use
MF32 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Sec. 94-77. - Multifamily high density (MF32) residential district. Sec. 94-78. - Historic residential districts. Sec. 94-79. - Historic residential design standards. Sec. 94-80. - Historic single-family low density residential, context 4 (SF7-C4).
Zone name
Multifamily High Density Residential
General category
RESIDENTIAL
Zone area
372.01 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Palm Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,130,000
6.5%
$18,580,000
7%
$17,250,000
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$23 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$19,039
Tax year 2023
Assessed value
$10,700,000
Assessed 2023
Previous assessed
$10,500,000
+1.9% YoY
Effective rate
0.18%
On assessed value
Assessed improvement
$10,700,000
Improvement market value
$10,700,000
Total market value
$10,700,000
Applied tax rate
74,407.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
4
Units
75
Rooms
75
Bathrooms
21
Total area
69,388 SF
Lot
5.22 ac (227,305 SF)
Zoning code
MF32
APN
74-43-43-09-11-002-0010
UPID
US18-9929409
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MF32 · West Palm Beach, FLZoning MF32 · permitted uses
MF32 · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Sec. 94-77. - Multifamily high density (MF32) residential district. Sec. 94-78. - Historic residential districts. Sec. 94-79. - Historic residential design standards. Sec. 94-80. - Historic single-family low density residential, context 4 (SF7-C4).
Zone name
Multifamily High Density Residential
General category
RESIDENTIAL
Zone area
372.01 ac
Building & site characteristics
From public records
Year built
1973
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
4
Buildings
3
Units
75
Rooms
75
Bathrooms
21
Lot
5.22 ac
Current owner
From public records · entity-resolved
Palm Grove Affordable LLC
Entity
Mailing address
31899 DEL OBISPO ST STE #150, SAN JUAN CAPISTRANO, CA 92675-3244
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2020
—
Palm Grove Affordable LLC
—
Deed
related
$15,900,000 · Housing Fin Auth
Feb 23, 2018
$10,250,000
Palm Grove Affordable LLC
Sp Azalea Place LP
Special Warranty Deed
$1,300,000 · Sp Azalea Place LP
Jul 21, 2017
—
Sp Azalea Place LP
—
Deed
related
$600,000 · Housing Fin Agcy
Jan 17, 2008
—
Azalea Place Sp
—
Deed Of Trust
related
$5,700,000 · Federal Home Loan Mortgage Cor
Dec 26, 2007
$6,725,000
Azalea Place Sp
Azalea Place Apartments Ltd
Grant Deed
—
Dec 30, 1999
$4,500,000
Azalea Place Apartments Ltd
Washington Heights Apts Ltd
Grant Deed
$5,756,220 · Suntrust Bank Atlanta
—
—
Azalea Place Sp
—
Deed Of Trust
related
$5,095,000 · Housing Finance Authority (tr)
—
—
Sp Azalea Place LP
—
Loan Modification
related
$600,000 · Housing Fin Agcy
—
—
Palm Grove Affordable LLC
—
Loan Modification
related
$15,900,000 · Housing Fin Auth
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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