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| Palm Hill| West palm Beach , FL |
| 5101 Palm Hill Dr |
| West palm Beach , FL 33415 |
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| Purchase Price |
$5,000,000 |
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| Cap Rate |
-3.34% |
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| Property Type |
Residential |
| Rentable Square Feet |
117,375 |
| Price per RSF |
$42.60 |
| Number of Tenants |
165 |
| | | Property Description |
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The property was a 386 unit apartment complex that wa s recently converted into condominium units.
221 units were sold with 165 units remaining in inventory.
September 2008 appraisal - $85,635 per unit.
Buit during 1981 -1984 Total Sqf: 804 A/C Square feet.
Amenities: Barbeque Grill and Picnic Area, Sparkling Pool (2)
Tennis, Racquetball & Volleyball Court
Kids Play Ground.
*** Investment PerformanceAfter Tax:
*** Cap rate At Acquisision - - 2.78%
*** Sell Year 5 at 6% Cap Rate - $11.2M
*** After Tax Cash On Cash After Stabilizing - 15.13%
*** After tax IRR - 36%
*** After tax Cumulative ROI - 442%
*** Discount Rate - 10% |
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| Presented To You By |
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Sean Glickman, CIPS TRC CSP
561-488-7766
seanglickman@gmail.com
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STIRLING SOTHEBY'S
INTERNATIONAL REALTY |
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The information above has been obtained from sources believed reliable. While
we do not doubt its accuracy we
have not verified it and make no guarantee, warranty or representation about
it. It is your responsibility to independently confirm its accuracy and
completeness. Any projections, opinions, assumptions, or estimates used are for
example only and do not represent the current or future performance of the
property.
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