Marcus & Millichap Brokers $10.88 Million Sale of Two-Property, 46-Unit Townhome Portfolio in West Palm Beach

Strategic Insights -

Marcus & Millichap, a leading commercial real estate brokerage firm, announced the sale of Wallis & Stacy Townhomes, a two-property townhome portfolio in West Palm Beach, Florida. The asset sold for $10,875,000, showcasing the continued strength and resilience of the multifamily market in the region. The portfolio features 46 units, all large three-bedroom, two-bathroom floorplans, with the majority renovated to include updated kitchens, bathrooms, and flooring. The properties offer community amenities such as private backyards and laundry facilities, and are strategically located near Palm Beach International Airport, downtown West Palm Beach, and major retail corridors.

Key Takeaways:

  • The sale of Wallis & Stacy Townhomes was facilitated by Marcus & Millichap's senior director investments, Evan Richardson, and a team of brokers, including Daniel Cunningham, River Rhoads, Dillon Majeski, and Cory Sanchez.
  • The two-property portfolio offers a stabilized, renovated asset with scale, strong tenancy, and exceptional long-term growth potential in West Palm Beach.
  • The properties are located on 4.8 acres and were built in 1991, with 46 units featuring three bedrooms, two bathrooms, and a majority renovated to include updated kitchens, bathrooms, and flooring.
  • Community amenities include private backyards and laundry facilities.
  • The portfolio is situated near major employment centers, local schools, and convenient access to Interstate 95, Florida's Turnpike, and retail corridors.
  • Marcus & Millichap has 1,712 investment sales and financing professionals in over 80 offices across the United States and Canada.
  • The company closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion.
  • As of December 31, 2024, Marcus & Millichap had 1,712 investment sales and financing professionals in over 80 offices.

Statistics:

  • The sale price of Wallis & Stacy Townhomes was $10,875,000.
  • The portfolio consists of 46 units, with 4.8 acres of land.
  • The properties were built in 1991 and feature a majority of units renovated to include updated kitchens, bathrooms, and flooring.
  • The sale highlights the continued strength and resilience of the multifamily market in the West Palm Beach region.
  • Marcus & Millichap has a total of 1,712 investment sales and financing professionals in over 80 offices across the United States and Canada.

Sources:

  • Marcus & Millichap, Inc. (NYSE: MMI)
  • "Marcus & Millichap Brokers $10.88 Million Sale of Two-Property, 46-Unit Townhome Portfolio in West Palm Beach"
  • https://www.marcusmillichap.com/news-events/press/2025/08/8-25-wallis-stacy-townhomes