700 Harlem Tenants Circle

Highlights:

• Lot Features: City Location, In Residential Area
• Building Features: Landscaped, Meeting Rooms, Manager On Premises
• Bathrooms Total: 126
• Documents Available: Financial Statement, Photos
• Cooling: Central Air
• Heating: Central
• Electric: 3 Phase Electric
• Flooring: Vinyl
• Construction Materials: CBS Construction
• Security Features: Smoke Alarm, Smoke Detector(s), Smoke Detector, Security Patrol, TV Camera, TV Monitor

Description:

Harlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.

2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.

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Listing ID: R11127667