405 SE 23rd Ave
Boynton Beach, FL 33435
2100 sqft | #A11350438
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.
Property Details
- Lot DescriptionLess Than 1/4 Acre Lot
- CountyPalm Beach County
- Property TypeMulti-Family
- Sewer InformationPublic Sewer
- MLS #A11350438
- MLS #A11350438
- SubdivisionROBINSON
- Property SubtypeTriplex
- Structure TypeTriplex
- Cost850000
- Square Feet2100
- Year Built1973
- Stories1
Location
Legal
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Last Updated: . Source: MAOR
Listing Courtesy
Listing Agent: Eric Amsallem (#3185189)
Listing Office: Beachfront Realty Inc (#ROBR01)
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