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1845 Dillone Ln - Dillone Apartments 5 Unit Apartment Building Offered at $1,350,000 at a 5.62% Cap Rate North Palm Beach, FL 33408
Investment Highlights
- Five Spacious 2-Bedroom / 1-Bathroom Units Averaging 828 SF
- Central A/C Throughout With Units Separately Metered For Water And Electricity
- Each Unit is Equipped with a Washer & Dryer
- Concrete Block Construction With A Pitched Composite Shingle Roof Replaced In 2016
- Minutes From Juno Beach, PGA Boulevard, The Gardens Mall, And Major Employment Centers
Executive Summary
Marcus & Millichap is pleased to present a five-unit multifamily property located at 1845 Dillone Lane in Juno Beach, Florida. Built in 1960, the property totals 4,140 gross square feet and is situated on a 0.38-acre lot. Constructed of concrete block, the property features a pitched composite shingle roof that was replaced in 2016 and central air conditioning throughout. The property is comprised entirely of five two-bedroom/one-bathroom units averaging approximately 828 square feet, providing spacious floorplans that continue to experience strong demand in the Juno Beach rental market. Each unit is separately metered for water and electricity, helping reduce operating expenses and improve expense recoverability. The property is serviced by private well and septic systems and is located on a private, low-traffic street, offering residents a quiet residential setting.
1845 Dillone Lane is ideally located just minutes from Juno Beach, U.S. Highway 1, PGA Boulevard, and Interstate 95, providing convenient access to major employment centers throughout northern Palm Beach County. Residents enjoy proximity to The Gardens Mall, Downtown at the Gardens, Legacy Place, John D. MacArthur Beach State Park, Juno Pier, and numerous waterfront restaurants and marinas. Nearby employment drivers include Palm Beach Gardens Medical Center, Jupiter Medical Center, and the expanding PGA Boulevard business corridor.
Juno Beach remains one of South Florida's most desirable coastal communities, benefiting from limited multifamily inventory, high household incomes, and strong barriers to new development. The property's combination of spacious floorplans, separate utility metering, and premier coastal location positions it for continued rental demand and long-term appreciation.
1845 Dillone Lane presents a rare opportunity to acquire a well-maintained boutique multifamily asset in one of Palm Beach County's most sought-after beachside markets.
1845 Dillone Lane is ideally located just minutes from Juno Beach, U.S. Highway 1, PGA Boulevard, and Interstate 95, providing convenient access to major employment centers throughout northern Palm Beach County. Residents enjoy proximity to The Gardens Mall, Downtown at the Gardens, Legacy Place, John D. MacArthur Beach State Park, Juno Pier, and numerous waterfront restaurants and marinas. Nearby employment drivers include Palm Beach Gardens Medical Center, Jupiter Medical Center, and the expanding PGA Boulevard business corridor.
Juno Beach remains one of South Florida's most desirable coastal communities, benefiting from limited multifamily inventory, high household incomes, and strong barriers to new development. The property's combination of spacious floorplans, separate utility metering, and premier coastal location positions it for continued rental demand and long-term appreciation.
1845 Dillone Lane presents a rare opportunity to acquire a well-maintained boutique multifamily asset in one of Palm Beach County's most sought-after beachside markets.
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- Offering Memorandum
Property Facts
| Price | $1,350,000 | Apartment Style | Garden |
| Price Per Unit | $270,000 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 4,140 SF |
| Cap Rate | 5.62% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.99 | No. Stories | 1 |
| No. Units | 5 | Year Built | 1960 |
| Property Type | Multifamily |
| Price | $1,350,000 |
| Price Per Unit | $270,000 |
| Sale Type | Investment |
| Cap Rate | 5.62% |
| Gross Rent Multiplier | 11.99 |
| No. Units | 5 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.38 AC |
| Building Size | 4,140 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | 828 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
50/100
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