222 SW 15th Ave
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222 SW 15th Ave
2 Unit Apartment Building $585,000 ($292,500/Unit) 6.50% Cap Rate Delray Beach, FL 33444
Investment Highlights
- Updated Duplex In The Heart Of Delray Beach.
- Kitchens Have Been Updated With Newer Cabinets And Stainless Steel Appliances.
- Hurricane Impact Windows, Doors, Tile Floors And Central Air Conditioning.
Executive Summary
Nicely Updated Duplex In The Heart Of Delray Beach. Both Units Are Large 2 Bed 1 Bath, With Hurricane Impact Windows, Doors, Tile Floors And Central Air Conditioning. Kitchens Have Been Nicely Updated With Newer Cabinets And Stainless Steel Appliances. Each Unit Also Has A Separate Washer And Dryer Area. Tenants Pay All Utilities (Water, Trash, Electric). Property Is Currently Generating An Annual Gross Income Of $46,800 With A Potential Market Income Of $57,600. Expenses Include Lawn ($480) Flood Insurance ($675) Taxes ($6,961) Totaling $8,116. This Leaves A Potential Net Income Of $38k To $48k, Perfect For Owner Occupant And Or Investor. Call Listing Agent For More Details.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $585,000 | Building Class | C |
| Price Per Unit | $292,500 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 1,296 SF |
| Cap Rate | 6.50% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2020 |
| Property Subtype | Apartment | Parking Ratio | 3.86/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $585,000 |
| Price Per Unit | $292,500 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 1,296 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2020 |
| Parking Ratio | 3.86/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Kitchen
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,000 | 1,300 |
zoning
| Zoning Code | R-1-A (Multi-Family) |
| R-1-A (Multi-Family) |
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222 SW 15th Ave
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