palm beach county condo investment portfolio...6112 forest hill blvd #101, west palm beach 6194...

Palm Beach County Condo Investment Portfolio94 Class A/B Units –South Florida Market

The Goldstein GroupBrokerage • Consulting • Management • Development

Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com

Encompassing the entirety of the flourishing Palm Beach County, FL rental market, these 94 condominium units are an excellent turnkey package of stable, easy to manage, income producing investments throughout a select variety of desirable locales (see map on P2). Distributed closely among four primary municipalities, these units feature extremely marketable, spacious floorplams in central locations, convenient and permissive associations with reasonable dues, excellently maintained grounds, and a plethora of amenities.

Quality affordable rental units are in extremely high demand in these areas, as rents have been driven heavily in recent years by population growth and a healthy local employment market. New construction and other such Class A developments present little value to middle class renters at their price point, making Class B units such as these an extremely attractive proposition. Tenants enjoy amenities such as coded and gated entrances, staffed leasing office, modern fitness centers, tennis courts, pool, in-unit washer/dryers, full time maintenance staff, and more all provided by the respective homeowner’s associations. Rental restrictions are comparatively minimal throughout the portfolio, as well.

Currently owned and managed by a large South Florida Real Estate Company, these units are 100% occupied, with vetted tenants on long term leases, providing an excellent turnkey investment prospect to the savvy real estate investor looking to establish a strong foothold in the Palm Beach County rental market.

240 Croton #107, Lantana






301 Croton Ave #208, Lantana

301 Croton Ave #304, Lantana

410 West Palm Street #26, Lantana

420 West Palm St #4A, Lantana

802 Windward Way #313, Lantana

1822 Abbey Rd, #206H, Palm Springs

201 Bonnie Blvd #128, Palm Springs





3139 Laurel Ridge Cir, Riviera Beach

10276 Fox Trail Rd #104, West Palm Beach

104 Phesant Run Blvd, West Palm Beach

1758 Abbey Rd 102A, West Palm Beach

1790 Abbey Rd #202, West Palm Beach

1790 Abbey Rd 102B, West Palm Beach

1798 Abbey Rd 201C, West Palm Beach



1806 Abbey Rd 108D, West Palm Beach




1820 N Congress #307, West Palm Beach

1822 Abbey Rd #106H, West Palm Beach

1830 Abbey Rd #207J, West Palm Beach

1906 Palm Beach Trace, Royal Palm Beach

2124 Sherwood Forest Blvd #35, West Palm Beach

2130 Sherwood Forest Blvd #16, West Palm Beach

3740 N Jog Rd #106, West Palm Beach

4041 San Marino Blvd #201, West Palm Beach

4686 Lakeside Cir, West Palm Beach

4823 Via Palm Lake Dr #1314, West Palm Beach

5140 Elmhurst Rd #G, West Palm Beach

5140 Elmhurst Rd, #D West Palm Beach

5508 Cannon Way #6, West Palm Beach

5894 Longbow Lane #2, West Palm Beach

5924 Longbow Lane #1, West Palm Beach

5925 Longbow Lane, Unit #5

5937 Forest Hill Blvd #206, West Palm Beach




6194 Seven Springs Blvd, West Palm Beach

801 Lighthouse Dr #D, West Palm Beach

8945 Okeechobee Blvd #307, West Palm Beach

8945 Okeechobee Blvd #308, West Palm Beach


Portfolio Snapshot

• 94 Condominium Units (79,642 total SF)• List Price: $13,950,000• 5.34% Current Cap Rate• 6.88% Cap at Market Rents!

• Leveraged ROI over 11% at market!• Excellent upside across portfolio!

• Class B and A/B+ Units throughout!• 100% Turnkey Portfolio!• Excellent, professionally kept records, easily

finance-able.• Well-distributed through closely-grouped,

desirable locales• Majority of units are in communities that are gated

and offer a host of amenities • All units are ideally positioned to capture quality

tenants while remaining competitively affordable.• Excellent, diverse, cash-flowing, turnkey

investment portfolio in one of the United States’ Hottest Rental Markets!

• Primary Rental Markets Encompassed by This Portfolio Include:

• West Palm Beach• Lake Worth• Greenacres• Lantana• Boynton Beach• Boca Raton

• All extremely desirable locales!!

450 SW 2nd Ave #108, Boca Raton







550 SW 2nd Ave, #1300 Boca Raton

550 SW 2nd Ave, #223 Boca Raton

600 SW 2nd Ave #1400 Boca Raton




660 Glouchester St #10, Boca Raton





213 SE 3rd Ave, #1A Boynton Beach

221 SE 3rd Ave, #6 Boynton Beach

605 SW 1st Ct, Boynton Beach

2124 Catherine Dr Apt 41A, Delray Beach

4277 Oak Terrace, Greenacres

4295 Oak Terrace, Greenacres

1415 Lake Ave #1, Lake Worth

211 Lake Ave #4 Lake Worth

211 Lake Ave #7 Lake Worth

510 24th Ave N #102, Lake Worth














8945 Okeechobee Blvd,Royal Palm Beach

Croton Condos, Lantana FL

Abbey Park CondosWest Palm Beach

Sample Communities

• 450 SW 2nd Ave #108, Boca Raton• 450 SW 2nd Ave #203, Boca Raton• 500 SW 2nd Ave #115, Boca Raton• 500 SW 2nd Ave #214, Boca Raton• 550 SW 2nd Ave #224, Boca Raton• 550 SW 2nd Ave #229, Boca Raton• 550 SW 2nd Ave #232, Boca Raton• 550 SW 2nd Ave, #1300 Boca Raton• 550 SW 2nd Ave, #223 Boca Raton• 600 SW 2nd Ave #1400 Boca Raton• 600 SW 2nd Ave #241 Boca Raton• 650 SW 2nd Ave #253 Boca Raton, Boca Raton• 650 SW 2nd Ave #255, Boca Raton• 660 Glouchester St #10, Boca Raton• 660 Glouchester St #13, Boca Raton• 660 Glouchester St #14, Boca Raton• 660 Glouchester St #6, Boca Raton• 660 Glouchester St #8, Boca Raton• 213 SE 3rd Ave, #1A Boynton Beach• 221 SE 3rd Ave, #6 Boynton Beach• 605 SW 1st Ct, Boynton Beach• 2124 Catherine Dr Apt 41A, Delray Beach• 4277 Oak Terrace, Greenacres• 4295 Oak Terrace, Greenacres• 1415 Lake Ave #1, Lake Worth• 211 Lake Ave #4, Lake Worth• 211 Lake Ave #7 Lake Worth• 510 24th Ave N #102, Lake Worth• 200 Croton #105, Lantana• 200 Croton #201, Lantana • 200 Croton #203, Lantana• 200 Croton #205, Lantana

• 200 Croton #210, Lantana• 220 Croton #101, Lantana• 220 Croton #105, Lantana• 220 Croton #107, Lantana• 220 Croton #208, Lantana• 240 Croton #103, Lantana• 240 Croton #104, Lantana• 240 Croton #105, Lantana• 240 Croton #107, Lantana • 240 Croton #202, Lantana• 240 Croton #204, Lantana• 240 Croton #205, Lantana• 240 Croton #207, Lantana• 240 Croton #211, Lantana • 301 Croton Ave #208, Lantana• 301 Croton Ave #304, Lantana• 410 West Palm Street #26, Lantana• 420 West Palm St #4A, Lantana• 802 Windward Way #313, Lantana• 1822 Abbey Rd, #206H, Palm Springs• 201 Bonnie Blvd #128, Palm Springs• 201 Bonnie Blvd #220, Palm Springs• 251 Bonnie Blvd #119, Palm Springs• 271 Bonnie Blvd #110, Palm Springs• 271 Bonnie Blvd #203, Palm Springs• 3139 Laurel Ridge Cir, Riviera Beach• 10276 Fox Trail Rd #104, West Palm Beach• 104 Phesant Run Blvd, West Palm Beach• 1758 Abbey Rd 102A, West Palm Beach• 1790 Abbey Rd #202, West Palm Beach• 1790 Abbey Rd 102B, West Palm Beach• 1798 Abbey Rd 201C, West Palm Beach

• 1798 Abbey Rd 205C, West Palm Beach• 1798 Abbey Rd 207C, West Palm Beach• 1806 Abbey Rd 108D, West Palm Beach• 1806 Abbey Rd 201D, West Palm Beach• 1806 Abbey Rd 205D, West Palm Beach• 1806 Abbey Rd 208D, West Palm Beach• 1820 N Congress #307, West Palm Beach• 1822 Abbey Rd #106H, West Palm Beach• 1830 Abbey Rd #207J, West Palm Beach• 1906 Palm Beach Trace, Royal Palm Beach• 2124 Sherwood Forest Blvd #35, West Palm Beach• 2130 Sherwood Forest Blvd #16, West Palm Beach• 3740 N Jog Rd #106, West Palm Beach • 4041 San Marino Blvd #201, West Palm Beach• 4686 Lakeside Cir, West Palm Beach• 4823 Via Palm Lake Dr #1314, West Palm Beach• 5140 Elmhurst Rd #G, West Palm Beach• 5140 Elmhurst Rd, #D West Palm Beach• 5508 Cannon Way #6, West Palm Beach• 5894 Longbow Lane #2, West Palm Beach• 5924 Longbow Lane #1, West Palm Beach• 5925 Longbow Lane, Unit #5• 5937 Forest Hill Blvd #206, West Palm Beach• 6034 Forest Hill Blvd #104, West Palm Beach• 6048 Forest Hill Blvd #202, West Palm Beach• 6112 Forest Hill Blvd #101, West Palm Beach• 6194 Seven Springs Blvd, West Palm Beach• 801 Lighthouse Dr #D, West Palm Beach• 8945 Okeechobee Blvd #307, West Palm Beach• 8945 Okeechobee Blvd #308, West Palm Beach


Palm Beach County Condominium Investment Portfolio – Address Listing


West Palm Beach FL• Population: 110,000• Miles of beautiful beaches stretching throughout Palm

Beach County.• Vibrant entertainment and nightlife throughout!• Genuine shortage of quality affordable rental housing.• Healthy local economy offers an excellent mix of

independent and chain store/restaurant options for local residents.

• Home to Palm Beach International Airport – a major airport offering international travel.

• Primary Work/Play Centers:• World Famous Atlantic Coast Beaches• Downtown West Palm Beach• Palm Beach Outlets (includes Whole Foods)• CityPlace• Port of Palm Beach• Downtown WPB Professional District

• Minutes drive to Palm Beach Island, one of the Country’s wealthiest and most Prestigious Locales

• Multiple national organizations have major components of their national and/or regionaloperations based in West Palm Beach:

• UPS• FedEx• Several Major Cruise Lines• Florida Power and Light (Statewide)• Goodwill• Many others!

Lake Worth and Lantana FL• Population: 50,000• Lantana offers a quiet, small town feel while still being in the

middle of all the area has to offer.• Lake Worth places a focus on local culture and history, giving

it a unique charm and down-to-earth coastal living, making it an extremely popular place to live.

• Rental demand is steady and healthy in this market on a consistent basis.

• New Class A units coming online have been absorbed, pricing many excellent tenants into the Class B and C markets.

• Popular choice for vacation and new-comers to the state due to its relative affordability and coastal lifestyle.

• Healthy arts community offers residents a unique element of culture and depth that is difficult to replicate elsewhere.

• Primary Work/Play Centers:• Atlantic Coast Beaches• Downtown Lake Worth• Palm Beach Island• Downtown West Palm Beach

• Home to the Old Key Lime House, America’s oldest waterfront restaurant and a State Landmark.

• Directly across the intracoastal from the Eau Palm Beach, as well as a short drive to the Breakers Palm Beach, both world-famous luxury resorts!

• Centrally located to Delray Beach, West Palm, Boynton, and Boca Raton. Also easily accessible to Palm Beach Gardens and Miami!

All cities in the portfolio are principal cities of the Miami Metropolitan area, home to over 6 million residents who live, work, and play here in South Florida. Below are some short introductory overviews of the most prevalent municipalities in this portfolio. South Florida truly offers something for every type of resident.

Boca Raton• Population: 110,000• Premier destination for live, work, and play at all levels.• Easy access to PGA, Miami, Fort Lauderdale, and More!• Class B and B+ investments are the most popular type of

housing in this market, offering amenities and modern units at relatively affordable rental rates to new construction.

• Genuine shortage of affordable rental housing, making Class B investments such as this the proverbial “sweet spot” for this rental market.

• “Boca,” as it is known, has an enduring image and appeal as the quintessential place for luxurious Florida living, attracting visitors and new residents year round.

• Home to an enormous amount of high end shopping, as well as multiple high end national retailers – often a marker for future growth:

• Whole Foods• Trader Joe’s• Mizner Park (major high end retail and dining

center)• Also famous for its country club and golf lifestyle, Boca

offers different income levels of residents excellent employment and growth opportunities, as well as recreation and enjoyment for people of all walks of life. Home to the World Famous Boca Resort and Country Club!

• As always, close proximity to beautiful Intracoastal waterway and Atlantic coast Beaches, with beautiful Highland Beach making up the east portion of Boca, directly on the coast.


Palm Beach County Comprehensive Investment Portfolio

Simplified Financial

Revenues Current Market

Monthly Rents 103,968.00$ 127,500.00$

Annualized 1,247,616.00 1,530,000.00

Expenses

RE Taxes (Market Grossed Up) 120,700.00 190,000.00

Condominium Fees 310,200.00 310,200.00

Liability Insurance 5,366.00 5,366.00

Management/Admin 42,500.00 42,500.00

Repairs and Maintenance 23,500.00 22,000.00

Total Exp 502,266.00 570,066.00

NOI 745,350.00 959,934.00

List Price 13,950,000.00$ 13,950,000.00$

Capitalization Rate 5.34% 6.88%



Community Summaries – Abbey Park, West Palm Beach

With an ideal, central location close to everything that Palm Beach County has to offer, Abbey Park Gardens is an ideal condo community in which to own investment units. With a well-organized, well-managed association that permits landlord-type ownership with very few practical restrictions, this community presents a great foundation for long term stability. Offering a sense of privacy and seclusion to residents while also being directly on Forest Hill Blvd, Abbey Park is a short drive to beautiful South Florida Beaches, all local employment and commerce centers, as well as excellent schools. Residents also enjoy amenities such as a community pool, fitness center, and beautifully maintained greenspace.



Community Summaries – Croton Condominums, Lantana FL

Croton Condominiums are located Directly on the Intracoastal waterway in tranquil, desirable Lantana FL, offering an excellent, central waterfront location to all residents. Featuring all-CBS construction, updated and well-maintained exteriors and interiors, and a quiet waterfront setting just minutes from vibrant Lake Worth, Delray Beach, West Palm Beach, and Palm Beach Island. Community association is permissive and investor-friendly in both buildings, with landlord-type ownership permitted with long term and seasonal leases. Residents enjoy easy beach access and beautiful seabreezes at affordable rental rates.

Intracoastal Waterway

US

HW

Y 1

Palm Beach Island



Community Summaries – SW 2nd Ave Condos, Boca Raton FL

Nestled in the heart of desirable Boca Raton, close to the coast, and central to Boca’s corporate and retail employment centers, these condos are excellent for working-class tenants looking to take advantage of Boca’s unique coastal suburban lifestyle.

Featuring CBS construction, ample off-street parking, a permissive and investor-friendly association, as well as well kept grounds and good curb appeal, the units owned in this community offer a great balance of location, comfort, and affordability, for residents, in turn creating excellent value for investors.

Boca Raton Golf Club

SW 2nd Ave Condos


Typical Grounds, Amenities

Croton Condos, Lantana FL The Cove, West Palm Beach FL

Abbey Park Gardens, West Palm Beach FL The Cove, West Palm Beach FL


Sample Interior Photos


Contact Listing Agents

For more information or to schedule a property tour please do not hesitate to contact

us at the numbers and/or email addresses below:

Martin Goldstein, Lic. Real Estate Broker

[email protected]

561-310-0935

Russell Goldstein

[email protected]

561-503-3648

palm beach county condo investment portfolio...6112 forest hill blvd #101, west palm beach 6194...

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