Marcus & Millichap Sells 20-Unit Timbercreek Townhomes And Villas In Royal Palm Beach For $6.2M
100 Sparrow Drive
$6,200,000
Building Size
—
Asset Type
MultiFamily
Closing
May 21, 2025
AI
The property asset involved in this transaction is Timbercreek Townhomes and Villas, a 20-unit multifamily community located at 100 Sparrow Drive in Royal Palm Beach. The sale price for the property was $6,200,000, and it spans across 2.5 acres, featuring spacious three-bedroom units and family-friendly amenities distributed among four buildings.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,200,000
- Units: 20
- Price Per Unit: $310,000
- Market: Royal Palm Beach
- Brokers: Brandon Rex & Evan Kristol - Marcus & Millichap
This transaction was completed with a California-based buyer who was engaging in a 1031 exchange. The brokers representing the deal were Brandon Rex and Evan Kristol from Marcus & Millichap, facilitating this property sale that is situated near Veteran’s Park and top-rated schools.
Players
Royal Palm Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93