blue lagoon apartments martin goldstein russell goldstein ... · • brand new roof, renovated...

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


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



Blue Lagoon ApartmentsRoof



Newly Replaced roof and

impeccably maintained

courtyard, yard, and

walkways.

Blue Lagoon ApartmentsFinance



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

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

[email protected]

561-310-0935

Russell Goldstein

[email protected]

561-503-3648

blue lagoon apartments martin goldstein russell goldstein ... · • brand new roof, renovated...

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