240-Unit Surface-Parked Multifamily Offering | 3.91% Fixed Assumable Loan | West Palm Beach, FL

2201 N. Australian Avenue, West Palm Beach, FL 33407

Visit Doc Center

Quick Stats

2019

Year Built

240

Units

6

Stories

801 

Avg SF

$2,164

Avg Mkt Rents

$2.71 

Avg Mkt Rents/SF

1.6

Parking Spaces/Unit

7.6 Acres

Land Area

Executive Summary

Berkadia Real Estate Advisors is pleased to exclusively present Village at Mangonia Lake (The “Property”), a 240-unit, surface-parked multifamily investment opportunity located at 2201 N Australian Avenue, West Palm Beach, FL 33407. 

Constructed in 2019, the Property features three six-story residential buildings with thoughtfully curated amenities and finishes, including 10-foot ceilings, state-of-the-art fitness center, multi-purpose clubhouse, pool, and dog park.

Situated on nearly eight acres fronting Lake Mangonia and just minutes away from Downtown West Palm Beach, residents are offered unparalleled access to over 11 million square feet of office and retail while maintaining a tranquil waterfront lifestyle. Its proximity to I-95 and the Brightline train station ensures easy access to employment hubs, cultural attractions, and the broader Palm Beach County area, making it highly attractive to renters seeking convenience and lifestyle balance in one of South Florida’s most highly sought- after and supply-constrained markets.

The property currently has a 3.91% fixed rate loan that can be assumed. Ownership also received an ad valorem tax exemption for 158 units (46.7% of total) below 120% AMI under the Live Local Act. With average rents across the entire property within the FHFC Rent limits, a buyer can capture further upside by qualifying additional units into the Live Local Act tax exemption.

Visit Doc Center

Investment Highlights

01

RARE, SURFACE-PARKED DEAL IN WEST PALM BEACH
Surface-parked multifamily complex 7 minutes away from Downtown West Palm Beach

02

HIGHLY ACCRETIVE 3.91% FIXED RATE LOAN ASSUMPTION
$36.6M Fannie Mae loan assumption opportunity with a 3.91% fixed rate maturing 2031

03

ACHIEVING LIVE LOCAL TAX SAVINGS, OPPORTUNITY TO QUALIFY MORE UNITS
~$400K in Tax Savings with 47% of the units qualifying for the Live Local Tax Exemption, giving the next owner the opportunity to qualify more units

04

BEST RENTAL ALTERNATIVE TO DOWNTOWN WEST PALM BEACH
Over $1,700/month in rental savings compared to properties in Downtown West Palm Beach, 7 minutes away

05

SIGNIFICANT DISCOUNT TO REPLACEMENT COST
Rare, surface-parked, six-story opportunity built in 2019 for less than $300,000 per unit

Location

Contact Us

Miami  
1111 Brickell Ave 
Suite 1650 
Miami, FL 33131 

Boca Raton 
5100 Town Center Circle, Suite 550
Boca Raton, FL 33486

Investment Sales:  

Omar Morales 
Senior Director
305.878.2278 
[email protected]

Jaret Turkell 
Senior Managing Director 
561.573.6140 
[email protected]

Yoav Yuhjtman 
Senior Director 
786.853.5555 
[email protected]

Gabriel Rondon
Financial Analyst
305.260.4942
[email protected]

Mortgage Bankers: 

Mitch Sinberg
Senior Managing Director
954.663.9894
[email protected]

Michael Basinski
Director
616.617.9508
[email protected]

Visit Doc Center

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.  

​© 2026 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

2026 © Berkadia - All right reserved.