405 SE 23rd Ave Pending Save Request In-Person Tour Request Virtual Tour
Boynton Beach,FL 33435
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Square Footage 2,100 sqft
Price per Sqft $404
Subdivision Robinson
MLS Listing ID A11350438
Year Built 1973
Annual Tax Amount $7,377
Tax Year 2022
Property Description
Actual Cap rate 6.06%, Pro forma Cap Rate 6,64%! Welcome to a stunning fully renovated and stabilized triplex property in the heart of Boynton Beach.
This property has undergone significant renovations in 2022-2023 totaling more than $80,000, making it an ideal investment opportunity.
Brand new facade, fence, electrical and plumbing systems, central AC, and parking.
Each unit boasts modern finishes, and the unit mix includes one (1) 1-Bed/1-Bath unit and two (2) 2-Bed/1-Bath units (some with washer & dryer) leased at market rate rents, generating $66.000 Gross income and a net operating income of $48,183 with a solid turnkey Cap Rate of 6.06%.
Upside on the rent with a potential cap rate of 6.43% and $51,093 net income.
OFFERING MEMORANDUM AVAILABLE ON REQUEST.
Location
State FL
County Palm Beach
Community Robinson
Area 4330
Interior
Heating Heat Pump
Cooling Central Air
Flooring Other,Parquet,Tile
Exterior
Pool None
Utilities Available Cable Available
Waterfront No
Roof Type Other
Building
Lot Description < 1/4 Acre
Story 1
Sewer Public Sewer
Structure Type Block
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional