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$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

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