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4011 36th Ct
West Palm Beach, FL 33407
Indigo Palms Apartments · Multifamily Property For Sale
·
57 Units
PROPERTY FACTS
| No. Units | 57 | Building Size | 70,000 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | C | Parking Ratio | 6.77/1,000 SF |
| Lot Size | 3.40 AC | ||
| Zoning | MF32,West Palm Beach | ||
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.40 AC |
| Building Size | 70,000 SF |
| Average Occupancy | 90% |
| No. Stories | 1 |
| Year Built | 1985 |
| Parking Ratio | 6.77/1,000 SF |
| Zoning | MF32,West Palm Beach |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Waterfront
- Video Patrol
ABOUT 4011 36TH CT , WEST PALM BEACH, FL 33407
Indigo Palms Apartments is a rare investment opportunity in this market environment, comprising 57 units in the heart of West Palm Beach’s fast growing multifamily market. This unique asset features a host of upgrades throughout, including updated floors, kitchens, plumbing, landscaping, and installation of by-unit water meters. These improvements are accompanied by a long list of infrastructure, security, marketing, and management systems developed to ensure that Indigo Palms operates incredibly smoothly, with a reliable tenant base and stable cash flow even when compared to Class B and some Class A assets. Built on a multifamily cul-de-sac only steps from Downtown Northwood, Downtown West Palm Beach, Palm Beach Outlets, and world-famous Palm Beach Island and the Atlantic Coast, Indigo Palms locates residents near to everything that this beautiful locale has to offer. This complex features a fenced property line, an on-site management office, on-site laundry, extensive off-street parking, water usage meters for each unit, and security cameras throughout feeding monitors in the office (also able to be monitored from off-site 24/7) Upon original purchase over six years ago (at which time Indigo Palms carried 20% vacancy and had many problematic tenants), ownership turned the tenancy completely around within 12 months, and has since increased the gross monthly rental revenue by almost 100% (doubled). This in addition to the myriad improvements to the physical asset position Indigo ideally for a savvy real estate investor.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 29 | - | 325 - 700 |
| 1+1 | 26 | - | 700 |
| 2+1 | 2 | - | 1,100 |
PROPERTY TAXES
| Parcel Number | 74-43-43-05-13-000-0051 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $5,368,392 |
PROPERTY TAXES
