Marcus & Millichap, as exclusive listing agent, is excited to bring to market a 10-unit bulk condominium offering located in Homestead, Florida. The property includes 10 townhomes out of 325 total units located in the Towngate Condominium Association.

The community was constructed in 2003 of concrete block with exterior painted stucco. The unit mix is comprised of (2) two-bedroom townhomes, (7) three-bedroom townhomes, and (1) four-bedroom townhome, all averaging 1,482 rentable square feet. All units have two and one-half bathrooms. Furthermore, most units have been nicely renovated with European cabinetry in the kitchens and bathrooms, granite countertops and backsplashes, black and stainless steel appliances with built-in microwave, flooring, lighting, and fixtures. Towngate units include a private backyard and Caribbean Isles Villas include a private balcony or patio. Parking consists of 2 assigned spaces for all units except for E models, which get 1 assigned space as they have a private garage. There is additional parking throughout the community.

Towngate residents enjoy a 24/7 gated community, a clubhouse with clubroom, fitness center, billiard room, business center, basketball court, shuffleboard court, tennis court, playground, pool, and social/BBQ areas.

Towngate Condominium is one of the seventeen communities located in the Keys Gate neighborhood and is comprised of all Mediterranean-villa style townhomes. Keys Gate is an urban neighborhood located in Homestead, Florida, just 30 minutes away from the Florida Keys and five minutes from the Florida Turnpike. The neighborhood is primarily made up of medium-sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. 95% of the residences in the Keys Gate neighborhood are newer, built in 2000 or more recently.

Keys Gate median real estate price is $552,953, which is more expensive than two thirds of the neighborhoods in Florida and two thirds of the neighborhoods in the U.S. The average rental price in Keys Gate is currently $4,617, based on NeighborhoodScout’s exclusive analysis. The average rental cost in this neighborhood is higher than 96% of the neighborhoods in Florida. Real estate vacancies in Keys Gate are 4.9%, which is lower than one will find in two thirds of American neighborhoods. Demand for real estate in Keys Gate is above average for the U.S. and may signal some demand for either price increases or new construction of residential product for this neighborhood.

The residents in the Keys Gate neighborhood are middle-income, making it a moderate-income neighborhood. NeighborhoodScout’s exclusive analysis reveals that this neighborhood has a higher income than 42% of the neighborhoods in America. Furthermore, 37% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 30% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (26%), and 7% in manufacturing and laborer occupations.