Log In/Sign Up
Your email has been sent.
100 Sandal Ln 9 Unit Apartment Building $4,999,000 ($555,444/Unit) 6% Cap Rate Palm Beach Shores, FL 33404
Investment Highlights
- 2 LOTS on a corner. Across from the Ocean. Currently 9 units grandfathered
- Current configuration isn't subject to city short term rental permitting fee.
- Build 2.5 Stories and 8 units as of current zoning. Potential 18 Units and 5 stories under Live Local Act.
- Mix of Long term rentals and Short Term rental units.
Executive Summary
Operated as 10 Units
Current legal use is 9 Units (grandfathered)
If Knocked Down and Rebuilt 8 Units as of Right and 2.5 Floor
Live Local Act could Allow 18 Units and 5 Stories.
Build 8 Luxury Townhomes, and keep renting while plans and permitting are pending.
Most Long term Tenants Pay Metered Electric. 9 FPL meters.
Sewer Line Pipes Re-lined in 2020
On 2 Legally Separate Lots (336 and 337). Lot 336 had all windows and doors replaced with impact windows in 2024. Consider sale of just this 4 Plex for $2.75m
Currently operated as a mix of Long Term and Short Term Rentals. After some discussion with the Town, this property does not fall under the Short Term Rental permitting of Palm Beach Shores (in current configuration). Multiple seasonal guest who return annually. At discretion of purchasers, all long term tenants can be removed in just a few months (most have been here multiple years and are month to month, or have leases that did not extend past summer).
Current legal use is 9 Units (grandfathered)
If Knocked Down and Rebuilt 8 Units as of Right and 2.5 Floor
Live Local Act could Allow 18 Units and 5 Stories.
Build 8 Luxury Townhomes, and keep renting while plans and permitting are pending.
Most Long term Tenants Pay Metered Electric. 9 FPL meters.
Sewer Line Pipes Re-lined in 2020
On 2 Legally Separate Lots (336 and 337). Lot 336 had all windows and doors replaced with impact windows in 2024. Consider sale of just this 4 Plex for $2.75m
Currently operated as a mix of Long Term and Short Term Rentals. After some discussion with the Town, this property does not fall under the Short Term Rental permitting of Palm Beach Shores (in current configuration). Multiple seasonal guest who return annually. At discretion of purchasers, all long term tenants can be removed in just a few months (most have been here multiple years and are month to month, or have leases that did not extend past summer).
Data Room Click Here to Access
- Operating and Financials
- Third Party Reports
- Miscellaneous
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,999,000 | Apartment Style | Low-Rise |
| Price Per Unit | $555,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 6% | Building Size | 6,126 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 14 | No. Stories | 1 |
| No. Units | 9 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 3.1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | B, Palm Beach Shores - B—MULTI-FAMILY (MEDIUM DENSITY) (54-PALM BEACH SHORES) | ||
| Price | $4,999,000 |
| Price Per Unit | $555,444 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 6,126 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 3.1/1,000 SF |
| Zoning | B, Palm Beach Shores - B—MULTI-FAMILY (MEDIUM DENSITY) (54-PALM BEACH SHORES) |
Amenities
Unit Amenities
- Washer/Dryer
- Grill
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Furnished Units Available
- Vintage Building
- Walking/Biking Trails
- Wi-Fi
- Community-Wide WiFi
- Study Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,500 | 1,650 |
| 2+1 | 1 | $2,750 | 850 |
| 1+1 | 6 | $2,125 | 585 - 2,250 |
| Studios | 1 | $1,800 | 375 |
1 1
Property Taxes
| Parcel Numbers | Total Assessment | $1,821,058 (2025) | |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,821,058 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
1 of 64
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Ocean Trust Realty
100 Sandal Ln
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.