806 9th St
Lake Park, FL 33403
Humani Court · Build-to-Rent Property For Sale · 60 Units

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market Humani Court Apartments, a 60-unit apartment community located in the town of Lake Park, Florida, which has been owned and operated by the same family for over 22 years. Humani Court is located in an excellent rental submarket of Palm Beach County, situated a few blocks south of Northlake Boulevard, a major east-west thoroughfare that travels through the county. Northlake Boulevard provides easy access to Interstate 95 and the Florida Turnpike to the west, as well as to numerous local, regional and national retailers such as Home Depot, Lowe’s, Costco, Target, Kohl’s, Publix and Winn-Dixie which are all within a few minutes’ drive from Humani Court. One block to the south is Park Avenue, considered the main artery in downtown Lake Park. The property sits equidistant between I-95 and Federal Highway (US-1). The Town of Lake Park is situated in Palm Beach County and sits on the Atlantic seacoast of Florida. A small town by population, it is considered part of the West Palm Beach MSA. Lake Park is home to several industries including, but not limited to, construction, manufacturing, retail and wholesale trade. Lake Park is less than 10 minutes from downtown West Palm Beach. Humani Court Apartments was constructed in 1975 of concrete block with painted stucco exterior and consists of four, two-story residential buildings situated on a 3.06 acre site. The unit mix is comprised of 15 one-bedroom apartments, 43 two-bedroom and one-bathroom apartments, and two three-bedroom and two-bathroom apartments. All of the apartments have central heating and air-conditioning, individual electric hot-water heaters. Three of the four roofs were replaced approximately 10 years ago. There is a total of 109 parking spaces, which include 5 handicap spaces. The owner currently uses a one-bedroom apartment and converted storage space as an office and leasing center. There are eight sets of property-owned washers and dryers throughout seven laundry rooms on the property. Residents are responsible for electricity, telephone and cable, while the owner includes water, sewer and trash removal in the rent.