Property Description

5-Unit investment property in West Palm Beach off Military Rd. with tremendous value-add with raising rents. Only minutes to I-95. This apartment building features 2 x 3/2 units, 2 x 2/1 units and 1 x 1/1 unit. All are currently occupied and many have long term tenants. One of the units has had the same tenant for 10 years, Tenants pay their own cable, electric, & water. Rent includes trash, landscaping, electric for exterior, maintenance, & septic. Current owners have fixed quite a few bathrooms, replaced hot water heaters, AC units, appliances and full kitchens.Without doing any updates, there is room to raise rents. 3 bedrooms in the area are closing for $1,350+ and 2 bedrooms for $1,250+. Lots of upside with value-add. Freshly painted building & parking lot sealed & blacktopped

Property Features
2018
: Public Water, Cable
Realtor Association of the Palm Beaches (RAPB)
Additional Information
: Central
: Comp Shingle, Mansard
: Block, Concrete
: Tile

Commercial/industry

West Palm Beach, Florida 33414

$729,000
Listing ID #RX-10510401
Basic Details
Property Type : Commercial/industry
Listing Type : For Sale
Listing ID : RX-10510401
Price : $729,000
Baths - Total : 7.00
Living Sq Ft : 5,100 Sqft
Year Built : 1978
Country : US
State : FL
County : Palm Beach
City : West Palm Beach
Zipcode : 33414
Type : Multifamily (5+ Units)
Status : Closed

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Contact Info

Engel & Völkers Wellington
10620 Forest Hill Blvd., Suite 40
Wellington, Florida 33414

+1 (561) 906-7007

Dr.TravisLaas@gmail.com

All listings featuring the RPBGFL  MLS logo are provided by the Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2023 by Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc.