by Adina Marcut
West Palm Beach, Fla.—Marcus & Millichap has recently arranged the sale of Essex House, a 156-unit apartment community in West Palm Beach, Fla. The $15.6 million sale price equates to $100,000 per unit.
Essex House’s amenities include a community clubhouse and two gated swimming pools, while apartments feature central or wall-unit air-conditioning and electric appliances.
“Essex House is ideally located in one of the most dynamic rental locations of West Palm Beach,” Brandon Rex, vice president of investments in Marcus & Millichap’s Fort Lauderdale office, said in a prepared statement. “The property is surrounded by an extraordinary concentration of nearly seven million square feet of retail and commercial space, providing residents with unparalleled convenience.”
Built in 1971 and 1974, the community is situated on a 3.8-acre site, just one mile west of the interchange of Interstate 95 and Okeechobee Boulevard at 537 S. Sequoia Drive in West Palm Beach.
Brandon Rex and Evan Kristol, senior vice president of investments, also in the firm’s Fort Lauderdale office, represented the undisclosed seller in the transaction.
Image courtesy of Marcus & Millichap