Multi-Family Space For Lease @ 2915 Broadway

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. This space offers accomodations for: lowrisegarden.