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HUGE EQUITY! Over 15% CAP Rate In Belle Glade!!



$199,000

FOR SALE

740 SW Avenue B Pl

Belle Glade, FL

  • Great rental opportunity located in the center of Belle Glade city with lots of potential! This building consist of 20 rental units and each is a 1/1. This property will require a lot of work, but the equity is there for the investor comfortable with a full rehab.
  • This apartment building is gutted and will need a full rehab.
  • Projected cap rate is after rehab and it is greater than 15%.
  • Each Unit can be rented for $600 Section-8
  • There is a long line of approved section 8 Tenants waiting for house. Short supply of section 8 housing in the area.
  • ***Buyer agrees to assume Case #17-229a (minimum Housing) with a lien accruing $100 a day since October 3rd, 2017*** Buyer must properly secure property to the city of Belle Glades standards. Lien amount is approximately $21,800 to date. Liens can be negotiated with the city.
  • Property has all individual meters for electric and water.

Documents

 
No Documents for this Property


  • Sale Comps $1.2M - $1.4M
  • Rental Comps $12,000 - $14,000
  • Property Type Commercial
  • Location Belle Glade, FL
  • Size 9401 sq. ft.
  • Bedrooms 20
  • Bathrooms 20
  • TAV 10.7K
  • Annual Taxes $598
  • Year Built 1965

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