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29897755
29894468

3901 36th Ct, West Palm Beach, FL 33407

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$20,700,000
100 days on market
Updated 9 days ago
Opportunity zone

Piper Village West

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 75,870
Net Rentable (SqFt) 75,870
Units 68
Cap Rate 5.25%
NOI $1,087,145
Occupancy 100%
Pro-Forma Cap Rate 5.95%
Pro-Forma NOI $1,231,574
Price per SqFt $273
Broker Co-Op Yes
Class B
Year Built 1973
Buildings 5
Stories 3
Acreage 3.250
Investment Type Value Add
Ownership Fee Simple

Multifamily | 68 Units | $304,412/unit

Marketing description

Marcus & Millichap is pleased to present Piper Village West, a 68 (out of 69) unit condominium community consisting of five three-story buildings built in 1973, totaling approximately 75,870 square feet on 3.25 acres. Constructed of concrete block with concrete flat roofs and central air conditioning throughout, the property offers a predominantly family-oriented unit mix with sixty-six three-bedroom/two-bathroom units and three two-bedroom/two-bathroom units, each averaging approximately 1,115 square feet.

Piper Village West benefits from its proximity to several major redevelopment initiatives that are reshaping the West Palm Beach region. Just north of the property, Northwood Village is undergoing a transformative expansion centered on The District at Northwood, a mixed-use project under construction that will deliver approximately 382 residential units across three buildings along with ~63,000 square feet of commercial and retail space and significant public open space. The District includes a mix of studio, one-, and two-bedroom apartments, ground-floor retail, co-working spaces, fitness and entertainment amenities, and hundreds of new parking spaces, establishing a vibrant “Village Square” destination that will attract residents, visitors, and businesses alike.

A short distance south and east lies the NORA District (North of Railroad Avenue), a transformational 40-acre mixed-use destination being developed in downtown West Palm Beach. Phase I of NORA includes ~150,000 square feet of adaptive reuse and new commercial development featuring retail, dining, wellness, and creative office space, and future phases will introduce a 201-key boutique hotel, additional retail and hospitality offerings, and hundreds of residential units designed to activate the neighborhood and expand the city’s urban core.

This proximity to high-profile mixed-use growth corridors places Piper Village West within the orbit of some of West Palm Beach’s most dynamic economic drivers. The region continues to attract public and private investment that reinforces walkability, lifestyle amenities, and transit-oriented development, while employment growth in nearby Downtown and along the I-95 corridor supports strong rental demand.

Piper Village West offers investors the opportunity to acquire a well-constructed, mid-sized multifamily asset with durable infrastructure, family-friendly layouts, and long-term upside supported by major adjacent redevelopment projects that are expanding the city’s residential, retail, and entertainment landscape.

Investment highlights

  • Large 68 (out of 69) Unit Condominium Community Spread Across 3.25 Acres

  • Concrete Block Construction With Concrete Flat Roofs And Central Air Conditioning Throughout

  • Spacious Unit Layouts Averaging Approximately 1,115 Square Feet, Ideal For Long-Term Tenants

  • Predominantly Three-Bedroom/Two-Bathroom Unit Mix Supporting Strong Family-Oriented Demand

  • Minutes From Major Development Projects in Northwood Village And The NORA District

  • All Plumbing Has Been Replaced With PVC Piping

Listing Contacts

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,087,145.00
$90,595.42/mo

Valuation Metrics

0
DSCR
5.25%
Cap Rate
5.25%
ROI

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Additional Information

Name
Evan Richardson
License
FL SL3134745
Name
Cory Sanchez
License
SL-3605832
Brokerage
Marcus & Millichap
Title
Associate
Brokerage Address
5900 North Andrews Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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