429 Ardmore Road. 2 Units at 429 Ardmore Road, West Palm Beach. Martin Goldstein Russell Goldstein

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1 429 Ardmre Rad 2 Units at 429 Ardmre Rad, West Palm Beach Martin Gldstein Russell Gldstein

2 429 Ardmre Rad Overview Centrally lcated in a ppular part f West Palm Beach s histric arts district, 429 Ardmre Rad presents an excellent investment prspect in this market. With 2 spacius and updated units as well as readily available upside, its an excellent additin t any investr s prtfli. West Palm Beach is a histrically ppular live/wrk/play destinatin fr peple f many different walks f life. Just acrss the Intracastal frm wrldfamus Palm Beach Island (amng the wealthiest lcales in the United States) and all that West Palm had t ffer (nightlife, arts, and a massive cache f emplyment centers) 429 Ardmre is psitined well in a grwing market. Whether starting ut in multifamily investment, r simply lking t add a fundamentally strng prperty t an existing prtfli, 429 Ardmre Rd ffers a hst f attractive features: Readily accessibly upside thrugh imprved landscaping, marketing, and sme changes t management Area strng n fundamentals and histrically dwnturn resistant Renvated interirs t upscale spec. Well maintained with little t n deferred maintenance Rents are firmly within market ranges but still have rm t be increased if need be, indicating a perfrming and generally well psitined deal, making it turnkey and lw maintenance. Cnsistent 100% ccupancy is als easy t maintain via wrd-f-muth advertising alne, meaning that cmpetent management and marketing are a key t maximizing yur investment and differentiating frm ther lcal landlrds. Our firm als ffers management services, which is a crucial cmpnent in maximizing a prperty s ptential. Accrding t a widely-quted, well-respected quarterly reprt last published in 2017 by the University f Central Flrida s Institute fr Ecnmic Cmpetitiveness: Ecnmic and jb grwth in Flrida are frecasted t cntinue t utperfrm the U.S. labr market and mre Baby Bmers cntinue t reach the end f their wrking lives. This bdes well fr cntinued ppulatin grwth via the in-migratin f retirees and jb seekers t Flrida. The ppulatin f Flrida is als grwing naturally, as birth rates exceed death rates. In additin t these surces f dmestic ppulatin grwth, internatinal immigratin will als feed int the state s ppulatin grwth. With ppulatin grwth cmes increased demand fr affrdable, quality rental husing. Rbust CBS cnstructin ensures lng-term reliability and relative ease f maintenance ver the lng term. Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm

3 429 Ardmre Rad Highlights and Lcatin Map Palm Beach, Jupiter, Prt St. Lucie Asset Overview: Current Cap Rate: Rate: 8.60% 6.25% Market Rents Cap Cap Rate: Rate: % (Nearly 10%!!) Price: $299,900 Price: $700,000 Address: 429 Ardmre Rad, West Palm Bch FL Address: 2 Spacius 501 Units: N Frnt J St, Lake 3BR 2BA, Wrth Rear FL is 1BR 1 5 BAUnits Ttal SF: 1, BR 1 BA 2 2 BR 2 BA US Hwy 1 Dwntwn Lake Wrth 429 Ardmre Rad Delray, Miami, FL Keys Intracastal Waterway Palm Beach, Atlantic Cast 100% Occupied! 100% Tenants Occupied! pay all utilities! On-site, Prfessinally incme wned prducing and managed. laundry! Bks Excellent and recrds value-add are well maintained. pprtunity via imprved Significant exterir value-add maintenance pprtunity and via management. imprved exterir maintenance and Excellent management. fundamentals. Interirs have been recently renvated! Lw maintenance CBS Units all feature balcnies with flr-ceiling cnstructin sliding glass drs! Excellent Desirable, fundamentals. central lcatin Excellent Desirable, lng central term lcatin grwth prspects Excellent lng term grwth Bike-friendly, prspects walkable area! Just a few shrt Bike-friendly, blcks frm: walkable area! Just a few shrt blcks frm: Wrld famus Suth Flrida Beaches Wrld famus Suth Flrida Vibrant Beaches Dwntwn Lake Wrth Shpping Vibrant Dwntwn (4 blcks Lake t Publix, Wrth Walgreens, Shpping (2 lcal blcks businesses t Publix, 5 blks dwntwn) Walgreens, lcal businesses Fully ccupied, dwntwn) stable, with belw market rents. Stable All asset, lng with term slightly tenants. belw market rents. Mix All lng f windw-unit term tenants. and central air cnditining Windw-unit units air-cnditining cst effective thrughut. and Units have been maintained well and energy efficient. replaced as needed. Ideally lcated clse t: Ideally lcated clse t: I-95 I-95 Dwntwn Dwntwn West West Palm Palm Beach Beach Palm Beach Island Island Well Excellent dcumented perating financials, histry, easily easily financeable! finance-able! Excellent Management capitalizatin infrastructure rate with massive near Excellent and capitalizatin lng term rental rate rate with upside. massive near and lng term rental rate upside. Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm

4 429 Ardmre Rad Aerial View 429 Ardmre Rd Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm

5 404 S M Street Apts Finance Annualized 38, , Expenses Taxes 6, , Insurance 1, , R&M 1, , Management (7%) 2, , Ttal Exp 12, , NOI (Estimate) 25, , Revenues Current Market 3 BR 2 BA $ 2, $ 2, BR 1 BA $ 1, $ 1, Ttal Rents $ 3, $ 3, Annualized 38, , Expenses Taxes 6, , Insurance 1, , R&M 1, , Management (7%) 2, , Ttal Exp 12, , NOI (Estimate) 25, , List Price 299, , Capitalizatin Rate 8.60% 9.96% Cash n Cash Return List Price 299, , % Dwn 74, , Ttal Leverage 224, , Debt Svc (5.3%) 11, , NOI After Debt Svc 13, , Cash n Cash return 18.51% 23.95% List Price 299, , Capitalizatin Rate 8.60% 9.96% Cash n Cash Return List Price 299, , Martin Gldstein Russell Gldstein 25% Dwn 74, , The-Gldstein-Grup.cm

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8 Cntact Listing Agents Fr mre infrmatin r t schedule a prperty tur please d nt hesitate t cntact us at the numbers and/r addresses belw: Martin Gldstein, Lic. Real Estate Brker Martin@TheGldsteinRealEstateGrup.cm Russell Gldstein Russell@TheGldsteinRealEstateGrup.cm Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm