6666 N Ocean Blvd
Ocean Ridge, FL 33435
Sundek Beach House · Multifamily Property For Sale · 17 Units

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market a very rare and unique opportunity to acquire Sundek Beach House, one of the few remaining rental properties located on the barrier island in the affluent Town of Ocean Ridge, Florida. Sundek Beach House consists of three two-story buildings that were constructed in 1962 and sit on .46-acre site in the middle of a luxury waterfront residential community, directly across the street from the Atlantic Ocean and Intracoastal Waterway. Furthermore, Ocean Ridge Hammock Park is located 100 yards to the south and provides beach access. The current ownership, which acquired the property in 2011, completely renovated it in 2014 over a span of 18 months. These renovations include, but are not limited to new roofs and gutters, exterior wood fencing, aluminum railings, hurricane impact windows, sliders and entry doors, awnings, foundation work, plumbing, electrical, wiring for cable, septic tank and drainage, salt water pool, brick paver pool deck, walkways and parking lots, solar panel pool heater and cooling system, central air-conditioning units, gazebo, barbeque area, laundry facility, extensive landscaping package and new signage. Apartment interiors and the onsite office were also completely renovated. The unit mix is comprised of two studios, 13 one-bedrooms, and two, two- bedroom and one-bathroom apartments. There is also an on-site office with a full kitchen. Unit amenities include modern kitchens with stainless steel appliances including dishwasher and built-in microwave, granite countertops, recessed and pendant lighting, modern bathrooms with frameless glass showers and upgraded fixtures, patio or private balcony, central heating and air-conditioning, and separate hot-water heaters. Community amenities include a saltwater swimming pool with a paver patio area, a large gazebo, barbeque area, outside lounge areas, lush landscaping, and two laundry facilities. The property has 30 parking spaces. Sundek Beach House has been operating as a hotel. The property has earned several white glove awards. All units are completely furnished including linens, cookware and silverware, and although each apartment has its own separate electrical meter, the current ownership includes all utilities including electricity, internet and cable TV in the rent. The Town of Ocean Ridge is a small, beautifully landscaped and diverse seaside community. The Town is approximately three miles long and is bounded on the south by the Town of Briny Breezes, on the west by the Intracoastal Waterway and on the east by the Atlantic Ocean and on the north by the Boynton Inlet. It is home to approximately 1,700 permanent residents and peaks to approximately 2,700 in season. The solitude and seclusion are part of the life in this small town. Ocean Ridge is predominantly a low density residential land use with several areas that provide for medium multifamily density and the area north of the Boynton Beach Oceanfront Park to the Boynton Inlet as high density. Commercial has been totally phased out by an ordinance adopted in the 1960’s. Surprisingly enough, people only a few miles away do not know where Ocean Ridge is located. In a May 10, 1992 Palm Beach Post article referring to Ocean Ridge it was stated, “It may be dull, but the residents like it that way.” Sundek Beach House offers an investor a rare opportunity to acquire a generational asset located across the street from the Atlantic Ocean. Furthermore, with only two apartment buildings in the town, Sundeck can also be operated as a long term multifamily rental.