Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1949
Sq.Footage
1,008
The current NOI is $53,548 with a 7.65% CAP rate. Build 6 additional units, which will increase the total revenue to $206,500 and the NOI to $185,400, at a total cost of $1,901,500, resulting in a cap rate of 9.75%. Alternatively, you could purchase the property and convert the entire project into 11 units. Discover the potential of this rare 1.25-acre parcel, zoned RM (Multi-Family, Medium Density) and located in an unincorporated area. The site may accommodate up to 11 residential units--a prime opportunity for developers or investors seeking a strong growth prospect. Enjoy a strategic location just minutes from I-95, the Florida Turnpike, and a variety of shopping, dining, schools, and employment hubs..
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Electric
-
Heating YN
NO
-
Heating
None
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Block
-
Other Exterior Features
None
-
Pool
Yes
-
Pool Features
None
-
Waterfront YN
NO
Area & Lot
-
Property Type
Residential Income
-
Property Sub Type
Duplex
Price
-
Sales Price
$700,000
-
Tax Amount
5270.0
-
Zoning
RM
-
Sq. Footage
1, 008
-
Price/SqFt
$694
HOA
-
Association
No
School District
-
Elementary School
Palm Springs (Miami Dade)
-
Middle School
Lake Worth
-
High School
Lake Worth
Property Features
-
Senior Community YN
NO
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Location
County
Palm Beach
Elementary School
Palm Springs (Miami Dade)
Middle School
Lake Worth
High School
Lake Worth
Listing Courtesy of John A Diaz , KW Reserve Business Brokerage LLC
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