3/2 CONDO TOTAL REHAB!
Year Built: 1975
Lot Size: 1,957
FIRE DAMAGE DESTROYED!
NEEDS TOTAL REPAIR! CALL NOW!
Ready for a 1031 Exchange, 16 Units Next to the Beach
16 Units, 11 Studios and Five 1/1’s. CBS, 6,158 Sqft
1 Block Away from the Beach.
Zoned for Hotel, Motel, Specialized Housing, and Short-Term/Seasonal Rentals.
Delivered as a Triple Net Lease property with ZERO landlord responsibilities or expenses. $271,920 Net income, Delivering a 6.3% CAP Rate.
92 Total UNITS in BELLE GLADE
72 Available for rent now
62 already currently rented
20 needs full rehab
(3 Folios) (4 buildings Total)
NOI: $ 107k / yr
Cap Rate: 11.56%
** Cap rate will increase more by filling in the 30 vacant units **
Great potential Income producing Property in downtown Belle Glade.
This property includes the sale of 4 buildings with a total of 92 units. 72 rent-able units!.
Folio 3: is a 32 unit building that is almost fully rented, it has a vacant building on same folio that can provide 20 extra rent-able units if renovated.
Folio 2: is a 28 unit building almost fully occupied. this Building is CBS construction
Folio 1: is 12 units total, 3 separate 4 unit buildings fully occupied.
The buildings are CBS construction. All 3 buildings have concrete roofs!
Rents have been the same for 10+ years.
You can increase rents and renovate the 20 unit building for much higher cap rate.
Property has on site property manager that collects rent and maintains property.
Current rent rolls attached!
Building: 12 units (all full 1/1s): All rented
12 Unit Apartment Building. Legal 12 unit property. Cash flow Multi-family rental! All units rented for $450-$550 per month each and rent rate can increase.
Building: 28 units (1 bed with kitchen area-4 common bathroom areas)- Rented
Building almost fully occupied
Building 1: 32 unit(rent-able) (with common bathroom areas) – Rented
Building 2: is a two story frame/stucco building with 20 units single bed and 7 units double bed boarding house style, small room with down the hall full bathroom and showers for women and men. Needs full rehab 75k.
8 Units Beside the Next New Hip Development in Town: The Hallandale City Center.
8 Fully Renovated Units, CBS. 3,777 Sq.ft.
All Units are 2/1’s. Gross Income $9,200/m.
Fully Renovated Kitchen and Baths. Tile Floors.
On the City’s Growth Path.
Deal for 8 multifamily units, excellent condition and fully rented.
Located by intracoastal Annual rent approx. $135,000
9,000 sf warehouse
1200 sf office space
16 ft ceiling height
14,6 ft clearing
3 phase power
20 ft ceiling height
3 x docks/2 grade level doors
Property is currently being renovated.
Around $600,000 renovation completed November 2018
6 % CAP RATE
Mixed properties of Single Family Homes and condo’s.
The properties can also be bought individually if you prefer.
16% Potential Cap Rate
Palm Beach County
Great opportunity for investors, fixer upper.
Building with 22 units perfect to rehab and
turn into great rental income.
New plumbing October 2015, New Doors and
Windows being installed currently.
New Cabinets have been purchased for some units and
will have to be installed by new owner as well as any
rehab needed to certain units.
All Units are in need of new AC Units as well.
325 8th St., Daytona Beach, FL
Sale Comps $1,050,000 – $1,100,000
Rental Comps $8,500 – $9,000
Size 8648 sq. ft.
5 Building Package Deal
12 Units: 2 Beds / 1 Bath
69 Units: 1 Bed / 1 Bath
Rent Roll & Financials Available Upon Request
Great Upside Potential with Attractive Rental Market
Call for Appt!