Jupiter Palms
Closed1600 Center Street, Jupiter, FL 33458
Property type
Multifamily
Unit / Space count
30
Price
$5,800,000
Building size
18,872 sf
Rentable area
18,872 SF
Year built
1959
Year renovated
Occupancy
Zoning code
Lot size
1.70 Acres
Sold/status
Sold · Date unknown
Sale price
$5800000
Bedroom count
Property description
Jupiter Palms is a 30-unit multifamily community located in the heart of Jupiter, Florida, which is in Palm Beach County. The subject property was built in 1959 with painted stucco exterior and is situated on 1.7 acres of land. Exterior capital improvements include, new sprinkler line, new paint and landscaping ,perimeter fencing and complete re-sealing of both roofs all within the last 3 years. Jupiter Palms is in close proximity to major retailers and Restaurants and is uniquely situated blocks from the Loxahatchee and a short bike ride to the Jupiter Inlet and Jupiter Beach. The surrounding area boasts multi-family buildings of similar age and construction. The asset is conveniently located east of I-95, North of W Indiantown Rd and directly west of A1A. Within minutes of driving, you can access down town Jupiter and world famous Florida beaches. The investment opportunity consists of a highly attractive unit mix of (2) one-bedroom & one-bathroom, and (28) two-bedroom & one-bathroom totaling approximately 18,872 RSF. Interior capital improvements include, new kitchens and cabinets and countertops as well as bathrooms fixtures and finishes. The community amenities include: On-Site Laundry, Private Backyard Courtyards for Each Unit, Ample Parking for Tenants and Guests and Lush Tropical Landscaping. Jupiter Palms is a turn-key, fully stabilized apartment community with future development potential in an area that is seeing a lot of new projects!
Property highlights
- Sold for full list price $5,800,000 or $193,333 per unit
- Generated over ten written offers within the first two weeks of marketing
- Competitive terms, buyer removed contingencies day one
- Franklin Street Capital and Insurance Services provided the loan and insurance policy for the buyer
- 100% Occupied, Turn-Key, Fully Stabilized Apartment Community in the Heart of Jupiter, FL,