Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Barton Apartments, a 20-unit apartment building in Lake Worth Beach, Florida, for $3.1 million.
“The seller and his family owned the property for more than five decades, and we were honored to help them navigate such a meaningful transition,” said Evan Richardson, first vice president. “The level of interest and competition reflected the unique value of this asset and the continued momentum in the Lake Worth Beach multifamily market.”
Richardson, River Rhoads, Daniel Cunningham, Dillon Majeski and Cory Sanchez, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a local private investor.
Barton Apartments, located at 1406 Barton Road, comprises 19 one-bedroom units and one two-bedroom unit across 13,050 square feet. Built in 1971, the property offers on-site laundry and a sauna, and sits on a 0.53-acre lot less than a mile from Interstate 95. It also offers walkability to Barton Elementary School, Publix, Costco and other major retailers.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
