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604 SW 35th Street, Palm City, FL 34990

$7,000,000
Property Type: Comm/Industry Baths: 2 Square Footage: 41,730 Status: Closed
Current Price: $7,000,000 Last Modified: 1/29/2024

Description

Rare investment opportunity in Old Palm City historic district. This 48-unit multi-family property consisting of 36 one-bedroom and 12 two-bedroom units has been meticulously cared for and updated. With renovations completed from 2021-2023, this property boasts new standing seam metal roofs on all buildings, impact windows and doors throughout, and state-of-the-art water conditioning systems for three of the five buildings. Over 50% of the units have been recently updated with new tile floors and wood cabinets. Within walking distance from the St. Lucie River, Palm City Apartments is close to schools, the Cleveland Clinic, Interstate 95, and the Florida Turnpike. Its apartments have maintained 100% occupancy for the past five years and continue to be in high demand. This turnkey, low-mai

Supplements: Rare investment opportunity in Old Palm City historic district. This 48-unit multi-family property consisting of 36 one-bedroom and 12 two-bedroom units has been meticulously cared for and updated. With renovations completed from 2021-2023, this property boasts new standing seam metal roofs on all buildings, impact windows and doors throughout, and state-of-the-art water conditioning systems for three of the five buildings. Over 50% of the units have been recently updated with new tile floors and wood cabinets. Within walking distance from the St. Lucie River, Palm City Apartments is close to schools, the Cleveland Clinic, Interstate 95, and the Florida Turnpike. Its apartments have maintained 100% occupancy for the past five years and continue to be in high demand. This turnkey, low-maintenance property is a must for investors who are looking for a consistent return on their investment.

More Information MLS# RX-10927120

Contract Information

Auction: No List Price/Bldg SqFt: 167.74 Status: Closed Original List Price: 7000000 Sold Price: $7,000,000 Current Price: $7,000,000 Listing Date: 2023-10-12

General Property Description

For Sale: Yes For Lease: No Property Desc: Multi-Family Acres: 3.62 Waterfront: No SqFt Source: Tax Rolls # of Stories: 2 Total Units: 48 % Air Conditioned: 100 Type: MultiFamily (5+ Units) Subdivision: PALM CITY AMENDED PLAT OF & MAP OF Year Built: 1985 SqFt - Living: 41730 Baths - Total: 2

Location, Tax & Legal

Geo Area: MA09 Country: United States State/Province: FL Tax Year: 2023 Zoning: RS-4 Real Estate Taxes: 11314.3 Multiple Ofrs Acptd: Yes Area: 9 - Palm City County: Martin Parcel ID: 173841001030000601 Street #: 604 Street Dir: SW Street Name: 35th Street Suffix: Street Zip Code: 34990 Legal Desc: PALM CITY LOTS 6 7 8 9 & 10 BLK 30 Geo Lat: 27.161833 Geo Lon: -80.261384

Office/Member Info

DXORIGMLNO: RX-10927120 DXORIGMLSID: RML

Status Change Info

Terms of Sale: Cash Sold Price/Bldg SqFt: 167.74 Under Contract Date: 2023-11-10 Sold Date: 2024-01-26 Sold Price: $7,000,000

Monetary Info

Vacancy Rate: 0

Type of Building

Resident. Multi-Fam.: 1

Unit 1

Unit Desc: 1 Bedroom # of Units: 36 Full Baths: 1

Unit 2

Unit Desc: 2 Bedroom # of Units: 12 Full Baths: 1 Half Baths: 1

Sale Includes

Building and Land: 1 Equipment: 1 Fixtures: 1 Machinery: 1 Signs: 1 Tools: 1 Trade Name: 1

Avail Info

Photos: 1

Construction

Concrete: 1

Avail Docs

None: 1

Cooling

Central Individual: 1

Heating

Central Individual: 1

Tenant Pays

Cable: 1 Electric: 1

Use

Income: 1

Flooring

Carpet: 1 Tile: 1

Utilities

Well Water: 1

Fire Protect

Smoke Detector: 1

Roof

Metal: 1

Terms Considered

Cash: 1 Conventional: 1

Possession

Funding: 1

Lease

None: 1

Contingencies

None: 1

Property Features

Use: Income Type of Building: Resident. Multi-Fam. Construction: Concrete Sale Includes: Building and Land; Equipment; Fixtures; Machinery; Signs; Tools; Trade Name Avail Docs: None Flooring: Carpet; Tile Cooling: Central Individual Heating: Central Individual Fire Protect: Smoke Detector Tenant Pays: Cable; Electric Utilities: Well Water Roof: Metal Terms Considered: Cash; Conventional Lease: None Possession: Funding Contingencies: None
Listing Office: Keyes Co
IDX
Last Updated: January - 29 - 2024
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