405 SE 23rd Ave Pending

Boynton Beach,FL 33435

$ 850000

- Bed

0 Bath

2100 SqFt


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

Construction Status Effective Year Built

HOA Y/N No

Year Built 1973

Annual Tax Amount $7,377

Tax Year 2022

Contingent Pending Inspections

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

Total Parking Spaces 8

Building

Lot Description < 1/4 Acre

Story 1

Sewer Public Sewer

Level or Stories One

Structure Type Block

Construction Status Effective Year Built

Others

Tax ID 08434533060000090

Acceptable Financing Cash,Conventional

Listing Terms Cash,Conventional

View More
Favorite Go Tour