Investment Opportunity! Excellent opportunity to acquire a strong cash flowing multifamily asset that is 100% occupied and priced at a 7.29% cap rate. Property consists of (3) duplexes for a total of 6 units on almost an acre of land. Each unit has a similar floor plan comprised of 3 bedrooms and 1 full bath. Upgrades vary by unit and include impact sliders/windows, new ACs (in 4 of 6 units), updated bathrooms/ kitchens, new tile flooring, fresh paint, etc. The exterior was just painted, landscaped, offers plenty of parking, and new exterior lighting. Attached is a brochure with more details.
Investment Opportunity! Excellent opportunity to acquire a strong cash flowing multifamily asset that is 100% occupied and priced at a 7.29% cap rate. Property consists of (3) duplexes for a total of 6 units on almost an acre of land. Each unit has a similar floor plan comprised of 3 bedrooms and 1 full bath. Upgrades vary by unit and include impact sliders/windows, new ACs (in 4 of 6 units), updated bathrooms/ kitchens, new tile flooring, fresh paint, etc. The exterior was just painted, landscaped, offers plenty of parking, and new exterior lighting. Attached is a brochure with more details.
Features
Building and Construction
Absolute Longitude: 80.10371
Construction: CBS, Concrete
Exterior Features: None
Flooring: Laminate, Tile
Roof: Comp Shingle
Sqft Source: Tax Rolls
Sqft Total: 5880.00
Total Building Sqft: 5880.00
Property Information
Property Condition: Resale
Property Group Id: 19990816212116581394000000
Land Information
Lot Description: 1/2 to < 1 Acre
Subdivision Information: None
School Information
Elementary School: Palm Springs Elementary School
High School: Lake Worth High School
Middle School: Lake Worth Community Middle
Eco-Communities
Private Pool: No
Storm Protection Impact Glass: Partial
Waterfront Details: None
Utilities
Carport Spaces: 0.00
Cooling: Central, Electric
Heating: Central, Electric
Number Of Stories: 1.0
Separate Elec Meters: Yes
Separate Wtr Meters: No
Utilities: Electric, Public Water, Septic
Finance and Tax Information
Application Fee: 0.00
Home Owners Association poa coa Monthly: 0.00
Homeowners Assoc: None
Income Expenses Annual Net Oper Inc: 123714.00
Income Expenses Annual Total Expense: 35886.00
Income Expenses Gross Operating Inc: 159600.00
Source Of Expenses: Owner
Tax Year: 2023
Rental Information
Tenant Pays: Cable, Electric
Other Features
Avail Info: Deposit Last Month, Leases
Country: United States
Housing For Older Persons Act: No Hopa
Legal Desc: PALM BEACH FARMS CO PL NO 7 E 158.72 FT OF S 1/2 OF LOT C (LESS N 20 FT) ALL OF LOT D & LT E (LESS S 70 FT) BLK 15
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