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Blue Lagoon Apar tments Martin Goldstein 561-310-0935
Russell Goldstein561-503-36487 Multi-Family Units, Beautiful Oceanside Location – Palm Beach Shores FL
Comprising 7 fully updated units less than a block from the Atlantic Ocean in Palm Beach Shores, FL, Blue Lagoon
Apartments enjoys an idyllic oceanfront location. Featuring all concrete construction as well as a host of other interior and
exterior updates, these units are perfectly positioned to offer reliable cash flow for years to come.
The Atlantic coast is one of Florida’s most attractive and iconic features, and living near or on the coast is a baseline
aspiration of nearly every Floridian. These units offer an affordable, convenient, and eminently attractive option to renters
looking for a laid back waterfront lifestyle without the normally exorbitant expense. Beaches are open year round and are
mere steps away from this beautiful building.
Among a host of other updates addressed in the Highlights Section, Blue Lagoon features an all new roof, central air
conditioning, granite kitchens with stainless appliances, beautifully landscaped and maintained grounds, and much more.
Tenants enjoy a quiet courtyard atmosphere with ample off-street parking, and convenient bicycle or walking access to all
that the area has to offer!
Singer Island’s Oceanfront feel is complemented by the wealth of commerce just over the Blue Heron bridge, a 1-2 minute
drive from the property. The local area offers Publix, Walgreens, Wawa, and 7-Eleven either on Singer Island itself, or
immediately over the bridge on the mainland, making it extremely easy to live day to day life for tenants.
Local employment centers for this typical tenant base include:
• 6 major hospitals ranging from 5 to 20 minutes away
• Downtown West Palm Beach financial district
• Hundreds of local restaurants and bars
• The Breakers Palm Beach and other resorts
• National and locally owned retail establishments of all types
Blue Lagoon Apartments: Beautiful location, excellent cash flow, great long term and vacation rental upside!
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Blue Lagoon ApartmentsOverview
West Palm Beach, Miami, FL Keys
Blue Lagoon ApartmentsHighlights and Location Map
Blue Lagoon Apartments
Singer Island
Atlantic Ocean
Palm Beach Gardens,
Jupiter, Port St. Lucie
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648The-Goldstein-Group.com
Palm Beach Inlet
• P r i c e : $ 1 , 3 0 0 , 0 0 0 . 0 0
• Massive vacation rental upside• Little to no investment needed in
structure, just add furniture.
• Excellent Cash on Cash return!
• Beautiful Oceanfront Location on World
Famous Singer Island
• Brand New Roof, renovated interiors,
beautifully landscaped with low-
maintenance, beautiful grounds.
• Interiors feature granite kitchens and
stainless appliances!
• 100% Occupied, professionally managed.
• Ample off-street tenant parking
• Only minutes east of Interstate 95 and
Florida’s Turnpike.
• Central air in all units.
• Just North of Palm Beach Inlet, Downtown
West Palm Beach, Northwood, and all that
the area has to offer.
• Upscale interiors appeal to a high quality
tenant base seeking the more affordable
side of waterfront living.
• Publix Supermarkets location with covered
parking garage immediately across Blue
Heron Bridge
• Beachfront dining, entertainment,
employment centers and commerce mere
minutes away.
• Quiet residential location consisting of
primarily single-family homes and high-end
resort style hotels and restaurants.
Blue Lagoon ApartmentsAerial
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Blue Lagoon ApartmentsRoof
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Newly Replaced roof and
impeccably maintained
courtyard, yard, and
walkways.
Blue Lagoon ApartmentsFinance
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Current Rents 12Mo Market
Monthly Rent Monthly Rent Nightly RateAvg Mo Revenue Based
on Below Occ
Unit 1 - 2BR 2BA 1,200.00 1,350.00$ 175.00$ 3,412.50$
Unit 2 - 1BR 1BA 1,200.00 1,350.00$ 150.00$ 2,925.00$
Unit 3 - 1BR 1BA 1,200.00 1,350.00$ 150.00$ 2,925.00$
Unit 4 - 1BR 1BA 1,500.00 1,600.00$ 150.00$ 2,925.00$
Unit 5 - Eff 1,000.00 1,100.00$ 125.00$ 2,437.50$
Unit 6 - Eff 1,100.00 1,200.00$ 125.00$ 2,437.50$
Unit 7 - Eff 1,100.00 1,200.00$ 125.00$ 2,437.50$
Total Monthly 8,300.00 9,150.00$ 19,500.00$
Average Occupancy % 65.00%
Annualized 99,600.00$ 109,800.00$ 234,000.00$
Expenses
Taxes 17,500.00 17,500.00 RE Taxes 17,500.00
Common Area Util ities 6,000.00 6,500.00 Sales Tax 16,380.00
Insurance 6,000.00 6,000.00 Common Area Util ities 6,500.00
Lawn and Pest 1,600.00 1,600.00 Insurance 4,200.00
Management (5%) 4,980.00 5,640.00 Lawn and Pest 1,680.00
Repairs and Maintenance 1,500.00 1,500.00 Management (7%) 16,380.00
Repairs and Maintenance 2,500.00
Guest Room Cleaning 6,500.00
Guest Cable and Internet 1,800.00
Total Exp 37,580.00 38,740.00 Total Exp 73,440.00
Net Operating Income 62,020.00$ 71,060.00$ Net Operating Income 160,560.00$
List Price 1,300,000.00$ 1,300,000.00$ List Price 1,300,000.00$
Cap Rate 4.77% 5.47% Cap Rate 12.35%
Down Payment - 20% 260,000.00 260,000.00 Down Payment - 20% 260,000.00
Total leverage 1,040,000.00 1,040,000.00 Total leverage 1,040,000.00
Annual Prevailing Int Rate Exp 38,480.00 38,480.00 Annual Prevailing Int Rate Exp 38,480.00
NOI After Int Exp 23,540.00 32,580.00 NOI After Int Exp 122,080.00
Cash on Cash Return 9.05% 12.53% 46.95%
Airbnd/Vaca Rental Pro Forma
Unit
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein
561-310-0935 561-503-3648 The-Goldstein-Group.com
Contact Listing Agents
For more information or to schedule a property tour please do not hesitate to contact
us at the numbers and/or email addresses below:
Martin Goldstein, Lic. Real Estate Broker
Martin@TheGoldsteinRealEstateGroup.com
561-310-0935
Russell Goldstein
Russell@TheGoldsteinRealEstateGroup.com
561-503-3648
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