UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,940 sqft
Price per Sqft $329
MLS Listing ID R11093866
Construction Status Resale
HOA Fees $6/ann
HOA Y/N No
Year Built 1956
Annual Tax Amount $12,367
Tax Year 2024
Lot Size 0.460 Acres
Acres 0.46
Property Sub-Type Multi Family
Property Description
Unit A (1 bed/1 bath): $1,300/month - lease through 6/30/2025 (vacant in June)
Unit B (1 bed/1 bath cottage): $1,300/month - lease through 9/30/2025
Unit D (1 bed/1 bath): $1,350/month - lease through 6/30/2025
Unit 3075 (2 bed/1 bath): $1,750/month - lease through 6/30/2025
Unit 3077 (2 bed/1 bath): $1,800/month - lease through 2/28/2026
Unit C (3 bed/1 bath): $1,500/month - lease through 6/30/2025
All leases transitioning to month-to-month at expiration for added flexibility.
Two on-site laundry machines are available for tenant use, generating additional passive income via refillable laundry card systemsno coin collection required. Property is in overall good condition with no major deferred maintenance.
At the current income level, the property operates at a cap rate of approximately 5.3%. Based on market rents, the pro forma cap rate increases to approximately 6.9%+. This is an excellent opportunity to acquire a stabilized income-producing asset with immediate upside potential in a highly desirable rental market. Offered at $1,300,000 ($216,667 per unit).
Income statement and rent role attached in MLS.
Location
State FL
County Palm Beach
Area 5490
Zoning RM(cit
Interior
Interior Features InteriorFeatures
Heating Central, Wall Furnace
Cooling Central Air, Wall/Window Unit(s)
Flooring Ceramic Tile
Fireplace No
Exterior
Water Access Desc Public
Roof Type Tar/Gravel
Building
Lot Description Subdivision
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Block
New Construction No
Construction Status Resale
Others
Tax ID 70434407010020121
Security Features Fire Alarm
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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