417 N J St
3 Unit Apartment Building $1,153,499 ($384,500/Unit) 8.29% Cap Rate Lake Worth Beach, FL 33460
INVESTMENT HIGHLIGHTS
- This unique property is a three unit multifamily property.
- This property benefits from high visibility and easy accessibility, attracting a steady flow of potential short and long term tenants.
- Apartment 1 is a one bedroom 1 bath unit, apartment 2 is a one bedroom 1 bath, apartment 3 is a one bedroom 1 bath.
EXECUTIVE SUMMARY
Prime Location: Located at 417 N. J. Street,
This unique property is a three unit multifamily property, consisting of the following: apartment 1 is a one bedroom 1 bath unit, apartment 2 is a one bedroom 1 bath unit and apartment 3 is a one bedroom 1 bath unit.
Professionally designed interiors, with new kitchens and baths.
This property benefits from high visibility and easy accessibility, attracting a steady flow of potential short and long term tenants.
Proximity to Attractions: Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean, this property offers convenience and lifestyle appeal, attracting a steady flow of visitors, tourists, and potential tenants.
Investment Growth: Situated in a rapidly developing area with increasing property values, this investment promises strong appreciation potential, making it a smart choice for long-term returns and portfolio growth.
LIST PRICE: $1,153,499
Highlights Beach Access: Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living and for businesses catering to tourists and beachgoers. Mixed-Use Potential: The property’s zoning allows for a mix of commercial and residential uses, offering flexible investment opportunities and diverse revenue streams.
This unique property is a three unit multifamily property, consisting of the following: apartment 1 is a one bedroom 1 bath unit, apartment 2 is a one bedroom 1 bath unit and apartment 3 is a one bedroom 1 bath unit.
Professionally designed interiors, with new kitchens and baths.
This property benefits from high visibility and easy accessibility, attracting a steady flow of potential short and long term tenants.
Proximity to Attractions: Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean, this property offers convenience and lifestyle appeal, attracting a steady flow of visitors, tourists, and potential tenants.
Investment Growth: Situated in a rapidly developing area with increasing property values, this investment promises strong appreciation potential, making it a smart choice for long-term returns and portfolio growth.
LIST PRICE: $1,153,499
Highlights Beach Access: Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living and for businesses catering to tourists and beachgoers. Mixed-Use Potential: The property’s zoning allows for a mix of commercial and residential uses, offering flexible investment opportunities and diverse revenue streams.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$121,480
|
$71.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$121,480
|
$71.54
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$25,908
|
$15.26
|
| Net Operating Income |
$95,572
|
$56.29
|
PROPERTY FACTS
| Price | $1,153,499 |
| Price Per Unit | $384,500 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 1,698 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1969/2021 |
| Parking Ratio | 1.18/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
1 of 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (83)
ZONING
| Zoning Code | SF-TF-14 (SF-TF-14 (city) / Single Family Residential District) |
