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12 Unit Belle Glade Apartment

$565,000

316 Southwest 3rd Street, Belle Glade, FL 33430

Active
Last Updated: 01/06/2023

6

Cap Rate

34,528

NOI

Details:
Cap Rate:    6%
NOI:    $34,528
Pro Forma Cap Rate :    10%
Building Size:    7,384 sqft
Lot Area:    0.21 sqft
Occupancy:    100%
Class:    C
Units:    12
Year Built:    1974
Zoning:    B-2
Floors:    2
Construction Status:    CBS
Roof:    Shingles
HVAC:    None
Floor:    Concrete, Vinyl
Investment Strategy:    Value Add
Highlights:
  • Opportunity Zone
  • Fully leased, yearly agreements
  • Upside income potential
Description:

Opportunity Zone. Currently 6.5% ROI with an upside of 11% ROI. Building fully leased, tenants with yearly rental agreements. 12 Unit apartment building with a unit break down of 4 units one bedroom one bathroom and 8 units with a two bedroom one bathroom distribution, individual water and electrical meters. Tenants pay their own utilities and they bring their own window unit.

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