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6 Turn Key, Fully Rented Units for ONLY $76,600 a Door!



$460,000

SOLD

160 W Blue Heron Blvd

Riviera Beach, FL

  • HUGE ROI potential!
  • All 6 units are rented below market value. Double digit cap rate after rents are increased.
  • All tenants are long term and pay on time.
  • Just blocks from the beach in a fast developing area.
  • There are 2 folios each consisting of a duplex with 2 studios in the front and a detached 2/1 in the back.
  • Current gross rent is $3,350. See break down below:
  • Current Rent Breakdown:
    (4) Studios rented for $475, $500, $500, and $575.
    (2) 2/1's both rented for $650 each.
  • Potential Rent Rates:
    2/1's rents raised to $1,300 each
    Studio rents raised to $1,000 each
  • With increases, that leaves a potential NOI of $53,000 with current expenses.
  • Meter count: 6 electrical and 2 water.
  • Yearly Expenses are $26,000. See breakdown below:
  • Water - $7,200
    Taxes - $6,000
    Vacancy & Repairs - $6,000
    Insurance - $5,000
    Maintenance - $1,800

Documents

 
No Documents for this Property


  • Sale Comps $525K - $530K
  • Rental Comps $6,600 - $6,700
  • Property Type Residential
  • Location Riviera Beach, FL 33404
  • Size 1897 sq. ft.
  • Bedrooms 8
  • Bathrooms 6
  • TAV 161.1K
  • Annual Taxes $3,961
  • Year Built 1947 1950

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