Fully renovated and occupied 18 unit complex with excellent return and value-add opportunity

$2,175,000
For Sale

3859

Property ID

7,837 SqFt

Size

Description

This fully renovated 18-units apartment complex provides an investor with outstanding cash-flow and the opportunity to purchase a building with below market rents.  The property is professionally managed and maintained, all rent collection is electronic, 0% vacancy, excellent relationship with the Palm Beach County housing authority, among other advantages. This solid brick and mortar constructed building has passed the 40-year certification.  The location is unbeatable, the adjacent lot is being developed now, phase 2 of Merry Place Townhouses is being completed across the corner, and walking distance to the redeveloping area of Northwood Village Creative Art.

Please contact us for CA and OM.

Financials:

Actual

CAP: 6.33%

CoC 1st Year: 8.14%

CoC 5 yr: 9.65%

Proforma

CAP: 7.21%

CoC 1st Year: 11.64%

CoC 5 yr: 13.37%

 

Address

Address: United States
  • Province / State: Florida
  • City / Town: West Palm Beach
  • Postal code / ZIP: 33407
Get Directions - Open on Google Maps
  • Property ID 3859
  • Price $2,175,000
  • Property Type Multifamily
  • Property status For Sale
  • Year Built 1925
  • Size 7,837 SqFt
  • Land area 0.30 Acres
  • Sellers Motivation 1031
  • Number of Units 18

Map View

Contact

Alejandro Jimenez

Property Seller
ijainc2003@gmail.com
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