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    1025 13th Street

    West Palm Beach, FL 33401
    • $2,900,000
    • STATUS: Pending
    • ON SITE: 12 Days
    • MLS #: RX-10750569
    Pending
    UPDATED: 80 min ago
    $2,900,000
    • 0
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,346
      SQFT
    • $395
      $/SQFT
    Type:
    Multi-Family
    Built:
    1968
    County:

    School Ratings & Info

    Description

    This 22 unit portfolio consisting of a 10-plex & two 6-plex's. Fully occupied with good tenants! Phenomenal unit mix consisting of: Two 3/1's, Sixteen 2/1's & Four 1/1's. Value Add Opportunity, rents are below market, portfolio can be brought to a 10% cap rate. All units in both 6-plex's come with stackable washer/dryer combo making them more attractive then neighboring apts. All units have split Water and Electric Meters that tenants pay for. All buildings are solid concrete block. Fast gentrifying area. 1 minute from Northwood & a few from downtown WPB. All 3 buildings in an opportunity zone. The roofs are in excellent condition. Approximately $350,000 was put into all 3 buildings. DO NOT DISTURB TENANTS! Please see link for pictures, financials & Offering Memorandum in ''Broker Remarks

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    www.adamdocktorgroup.com/homes/122181113
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    1025 13th Street West Palm Beach, FL 33401

    • Price: $2,900,000
    • Status: Pending
    • Updated: 80 min ago
    • MLS #: RX-10750569
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    7,346
    SQFT
    $395
    $/SQFT
    1968
    Built
    Neighborhood:
    Freshwater 11Th & 12Th Ave Add
    County:
    Palm Beach
    Area:
    West Palm Beach
    Property Description
    This 22 unit portfolio consisting of a 10-plex & two 6-plex's. Fully occupied with good tenants! Phenomenal unit mix consisting of: Two 3/1's, Sixteen 2/1's & Four 1/1's. Value Add Opportunity, rents are below market, portfolio can be brought to a 10% cap rate. All units in both 6-plex's come with stackable washer/dryer combo making them more attractive then neighboring apts. All units have split Water and Electric Meters that tenants pay for. All buildings are solid concrete block. Fast gentrifying area. 1 minute from Northwood & a few from downtown WPB. All 3 buildings in an opportunity zone. The roofs are in excellent condition. Approximately $350,000 was put into all 3 buildings. DO NOT DISTURB TENANTS! Please see link for pictures, financials & Offering Memorandum in ''Broker Remarks
    Exterior Features

    Carport Spaces 0.00 Construction CbsConcrete Exterior Features Covered Balcony Lot Description 1/2 To < 1 Acre1/4 To 1/2 Acre Private Pool YN No Roof Comp Shingle Unit1 Parking Open Parking Unit2 Parking Open Parking Unit3 Parking Open Parking Unit4 Parking Open Parking View Other Waterfront Description None Waterfront YN No

    Interior Features

    Cooling Wall-Win A/C Flooring Ceramic TileConcreteLinoleumTerrazzo Floor Heating Wall Furnace Unit1 Bedrooms 2 Unit1 Desc Range - ElectricRefrigerator Unit1 Full Baths 1 Unit1 Furnished No Unit1 Sq Ft 710 Unit2 Bedrooms 2 Unit2 Desc MicrowaveRange - ElectricRefrigerator Unit2 Full Baths 1 Unit2 Furnished No Unit2 Sq Ft 710 Unit3 Bedrooms 3 Unit3 Desc MicrowaveRange - ElectricRefrigerator Unit3 Full Baths 1 Unit3 Sq Ft 835 Unit4 Bedrooms 3 Unit4 Desc MicrowaveRange - ElectricRefrigerator Unit4 Full Baths 1 Unit4 Sq Ft 835

    Property Features

    Annual Net Operating Income 189612.00 Annual Total Expenses 41662.08 Available Info AccountingDeposit SecurityLeases Built Desc Resale Contingent Pending Contingents Bckup Cntrct/Call La Gross Operating Income 231274.08 Hoa Fee Per Month 0.00 Homeowners Association None HOPA No Hopa List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Multifamily Type Quad Plex Possession At Closing REO No Restrictions None Separate Electric Meters Yes Separate Water Meters Yes Short Sale No Short Sale Addendum No Short Sale AU N/A Source Of Expenses AccountantBooks Sq Ft Total 7346.00 Subdivision Amenities None Tax Amount 12898.00 Tax Year 2020 Taxes City/County Tenant Pays CableElectricSewerWater Terms Considered CashConventionalExchange Unit1 Monthly Income 1050.00 Unit2 Monthly Income 1050.00 Unit3 Monthly Income 1300.00 Unit4 Monthly Income 1100.00 Utilities ElectricPublic Sewer Zoning Mf14(C

    Listing provided courtesy of Allure Real Estate. Listing information © 2021 BeachesMLS
     
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