Bought with Oxford & York Realty Int'l Inc
$510,000
$525,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
3874 N 7th AVE Lake Worth, FL 33461
6 Baths
4,989 SqFt
Key Details
Sold Price $510,000
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Sold
Purchase Type For Sale
Square Footage 4,989 sqft
Price per Sqft $102
Subdivision Kirkview
MLS Listing ID RX-10358625
Sold Date 09/18/17
Construction Status Resale
Abv Grd Liv Area 19
Year Built 1959
Annual Tax Amount $8,744
Tax Year 2016
Lot Size 0.640 Acres
Property Description
Excellent Opportunity! 6-Unit Villa Rental Community on .65 Acres! Current CAP Rate 10.33%/Proforma CAP Rate 12%! Current gross inc $6,020/mo. Low expenses: 18k per year. DO NOT DISTURB TENANTS. Landlord pays water. Tenants pay electric. 5 mo-to-mo & 1 annual lease. Most tenants have been there forever, love it & very happy. Community is broken up into 3 buildings with plenty of parking & surrounded mostly by single-family homes. Quiet, peaceful & serene area. 100% occupied. 4 of 6 units have central a/c. Each villa has own address/bldg & floorplan: 3874(DU-2/1) $1,250/mo, 3876(DU-1/1) $750/mo, 3878(SFH-1/1) $820/mo, 3880(TRI-3/1) $1,100/mo, 3882(TRI-3/1) $1,000/mo, 3884(TRI-2/1) $1,100/mo. Room to raise rents to $6,500-7,000/mo gross without much effort. Priced competitively! DISCLAIMER:
Location
State FL
County Palm Beach
Area 5690
Zoning Multifamily
Interior
Heating Central, Electric
Cooling Central, Electric
Flooring Tile
Fireplaces Type Smoke Detector
Exterior
Community Features Presently Leased
Utilities Available Cable, Electric, Municipal Water, Public Sewer, Public Water
Roof Type Built-Up
Present Use Presently Leased
Building
Story 100.00
Foundation CBS
Construction Status Resale
Others
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Financing Cash,Other
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