Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Flamingo Park Apartments, a 16-unit boutique apartment community located in West Palm Beach, Florida. The asset sold for $5,435,000.
“Flamingo Park Apartments has an excellent unit mix and is located in a trendy area, with restaurants, shopping and other neighborhood amenity retailers in close proximity to the property including downtown West Palm Beach and Clematis Street” said Brandon J. Rex, senior vice president investments
Rex and Evan P. Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Flamingo Park Apartments is located at 420 Kanuga Drive and is easily accessible from Interstate 95. The property is near many entertainment and dining options including Rosemary Square, Clematis Street, Palm Beach County Convention Center, and the Kravis Center.
The apartments consist of four two-story residential buildings and one one-story four-car garage built in 1928 of wood frame construction, all situated on one 0.43-acre parcel of land. Flamingo Park Apartments offers a diverse unit mix of one-bedroom, two-bedroom, and three-bedroom floor plans.
