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2915 Broadway, West Palm Beach, FL 33407

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Building Details:

• Year Built: 1959

The Apartments on Broadway is a unique opportunity to acquire a multifamily asset in the path of progress bordering the Old Northwood Historic District. This enclave just blocks to the north of Downtown West Palm Beach, Florida features 320 historic buildings and is seeing a renewed market interest as the city skyline continues to see an abundance of new development by large scale developers. New out of area capital is being infused to this market allowing for regentrification throughout the city, specifically in the Northwood area as the path of development continues it's northward march on US 1.

Northwood Village is walking distance to the Apartments on Broadway and features multiple one-of-a-kind assortment of stylish shops, hangout spots, trendy wares and delicious fare. Due to the historic nature of the neighborhood, the art culture is thriving as an alternative to the hustle and bustle of Downtown West Palm Beach. The hip bohemian vibe of the area has lead to high demand for well positioned multifamily real estate in the area of which the Apartments on Broadway is well positioned to participate.

The Apartments on Broadway is 1.5 miles to the City Centre, 1.77 miles to Cityplace and 2 miles to The Breakers. Palm Beach has some of the most pristine beaches in all of South Florida. Many of the worlds most prominent billionaires call Palm Beach home which creates ample demand for well located, affordable multifamily rental units that services the broader market.

Downtown economic drivers include an extensive service industry, business & financial services, governmental service, communications, information technology, aerospace & engineering, agriculture & food processing, life sciences, medical and pharmaceutical products. The City of West Palm Beach competes well on the world stage with products sold locally, nationally, and internationally.

Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For lease: Negotiable
The Apartments on Broadway is an exceptional multifamily acquisition opportunity that is located in the path of progress and is participating in the natural migration of capital to the surrounding neighborhoods of Downtown West Palm Beach. Well located and bordering the historic neighborhood of the Old Northwood Historic District, market demand for well appointed multifamily units in the area is record breaking. As the rental market in the City Centre's of West Palm Beach continues to surge, rents for C class multifamily in the immediate area continue to rise in concert. The Apartments on Broadway is less than 2 miles from Downtown West Palm Beach and will enjoy very high occupancy rates with demand from many economic generators for this international city. The property has seen a significant repositioning effort during the current ownership term. Six of the eight apartment units have seen extensive renovations including new kitchens and new bathrooms. All water heaters have transitioned to tankless for energy and electric conservation. The exterior of Apartments on Broadway has seen a new paint scheme and modernized to compete with the cleanest multifamily rental units in the area. Rental growth via interior renovations has quickly proven a strong repositioning strategy creating unheard of demand for nice, clean, and updated apartment units. The new buyer will appreciate the opportunity to further continue the renovation efforts and value add approach in the asset. The current tenants each pay an additional fifty dollars per month for water bill back thereby further increasing the net operating income in the asset. There may be further opportunity for new additional income generating renovations that include installation of common laundry facilities. The Apartments on Broadway will enjoy many years of rental growth as the City of West Palm Beach continues it's current path of corporate headquarter relocations and corporate expansion. Demand for rental units at the Apartments on Broadway will outpace other markets as the desire to be centrally located and only minutes to the best parts of West Palm Beach will continue to strengthen. « show less The Apartments on Broadway is an exceptional multifamily acquisition opportunity that is located in the path of progress and is participating... show more » View Details The Apartments on Broadway is an exceptional multifamily acquisition opportunity that is located in the path of progress and is participating in the natural migration of capital to the surrounding neighborhoods of Downtown West Palm Beach. Well located and bordering the historic neighborhood of the Old Northwood Historic District, market demand for well appointed multifamily units in the area is record breaking. As the rental market in the City Centre's of West Palm Beach continues to surge, rents for C class multifamily in the immediate area continue to rise in concert. The Apartments on Broadway is less than 2 miles from Downtown West Palm Beach and will enjoy very high occupancy rates with demand from many economic generators for this international city. The property has seen a significant repositioning effort during the current ownership term. Six of the eight apartment units have seen extensive renovations including new kitchens and new bathrooms. All water heaters have transitioned to tankless for energy and electric conservation. The exterior of Apartments on Broadway has seen a new paint scheme and modernized to compete with the cleanest multifamily rental units in the area. Rental growth via interior renovations has quickly proven a strong repositioning strategy creating unheard of demand for nice, clean, and updated apartment units. The new buyer will appreciate the opportunity to further continue the renovation efforts and value add approach in the asset. The current tenants each pay an additional fifty dollars per month for water bill back thereby further increasing the net operating income in the asset. There may be further opportunity for new additional income generating renovations that include installation of common laundry facilities. The Apartments on Broadway will enjoy many years of rental growth as the City of West Palm Beach continues it's current path of corporate headquarter relocations and corporate expansion. Demand for rental units at the Apartments on Broadway will outpace other markets as the desire to be centrally located and only minutes to the best parts of West Palm Beach will continue to strengthen. Pricing: Negotiable Availability: Now Listing ID: 3226738 Save to list

Multi-Family Space

For lease: Negotiable

The Apartments on Broadway is an exceptional multifamily acquisition opportunity that is located in the path of progress and is participating in the natural migration of capital to the surrounding neighborhoods of Downtown West Palm Beach. Well located and bordering the historic neighborhood of the Old Northwood Historic District, market demand for well appointed multifamily units in the area is record breaking. As the rental market in the City Centre's of West Palm Beach continues to surge, rents for C class multifamily in the immediate area continue to rise in concert. The Apartments on Broadway is less than 2 miles from Downtown West Palm Beach and will enjoy very high occupancy rates with demand from many economic generators for this international city. The property has seen a significant repositioning effort during the current ownership term. Six of the eight apartment units have seen extensive renovations including new kitchens and new bathrooms. All water heaters have transitioned to tankless for energy and electric conservation. The exterior of Apartments on Broadway has seen a new paint scheme and modernized to compete with the cleanest multifamily rental units in the area. Rental growth via interior renovations has quickly proven a strong repositioning strategy creating unheard of demand for nice, clean, and updated apartment units. The new buyer will appreciate the opportunity to further continue the renovation efforts and value add approach in the asset. The current tenants each pay an additional fifty dollars per month for water bill back thereby further increasing the net operating income in the asset. There may be further opportunity for new additional income generating renovations that include installation of common laundry facilities. The Apartments on Broadway will enjoy many years of rental growth as the City of West Palm Beach continues it's current path of corporate headquarter relocations and corporate expansion. Demand for rental units at the Apartments on Broadway will outpace other markets as the desire to be centrally located and only minutes to the best parts of West Palm Beach will continue to strengthen. « show less

The Apartments on Broadway is an exceptional multifamily acquisition opportunity that is located in the path of progress and is participating... show more »

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2915 Broadway, West Palm Beach, FL 33407

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