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9 Unit Apartment Building in West Palm Beach - 11% Cap Rate Possible

$975,000

SOLD

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West Palm Beach, FL

Excellent location! East of Dixie Hwy, Just a few blocks from the Intracostal.
Property is fully rented with long term tenants.
Current rents are below market value. Potential for an 11% Cap Rate!
Property is fully fenced with a court yard area.
Onsite laundry.
9 units include 2 x 2 Bed, 3 x 1 Bed, 4 x Efficiencies, garage that is not rented.
Inspection report has already been completed!
Please see below for current rent roll and income/expense report.

Documents

Rent Rolls and Income/Expenses

Sale Comps $1000K - $1M
Rental Comps $9,500 - $10,000
Property Type Commercial
Location West Palm Beach, FL 33405
Size 2072 ^{sq. ft.}
Bedrooms 11
Bathrooms 9
TAV 826.7K
Annual Taxes $17,209
Year Built 1955

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