Remarks

8-unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 5.38%. One unit is vacant and Airbnb-ready; the other 7 are on annual leases. Huge upside by converting corner units to short-term rentals--conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.

Details

MLS#: RX-11084283
Price: $2,895,000

Style: Resident. Multi-Fam.
Sq Ft: 4540.00
Year Built: 1950

County: Palm Beach
Subdivision: ESTATES OF SOUTH PALM BEACH ADD 1