12 Unit Belle Glade Apartment

316 Southwest 3rd Street, Belle Glade, FL

   SOLD!   

$565,000

Price

6%

Cap Rate

$34,528

NOI

Gallery
Street
Map
Overview
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
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.

Highlights
  • Opportunity Zone
  • Fully leased, yearly agreements
  • Upside income potential
Location
Gallery