921 14th St
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921 14th St
5 Unit Apartment Building $773,500 ($154,700/Unit) 9.26% Cap Rate West Palm Beach, FL 33401
Investment Highlights
- Major Update in 2023
- New Roof, New Impact Hurricane Windows, New Floors, New Bathrooms, Paint, and more.
Executive Summary
100% occupied building. Three of the five units have VA guaranteed tenants with an upcoming 20% rent increase. Building has new roof, all units were recently updated including kitchen and bathrooms, and most of them have impact hurricane windows.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$94,080
|
$38.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$94,080
|
$38.81
|
| Taxes |
$4,952
|
$2.04
|
| Operating Expenses |
$17,471
|
$7.21
|
| Total Expenses |
$22,423
|
$9.25
|
| Net Operating Income |
$71,657
|
$29.56
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $94,080 |
| Annual Per SF | $38.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $94,080 |
| Annual Per SF | $38.81 |
| Taxes | |
|---|---|
| Annual | $4,952 |
| Annual Per SF | $2.04 |
| Operating Expenses | |
|---|---|
| Annual | $17,471 |
| Annual Per SF | $7.21 |
| Total Expenses | |
|---|---|
| Annual | $22,423 |
| Annual Per SF | $9.25 |
| Net Operating Income | |
|---|---|
| Annual | $71,657 |
| Annual Per SF | $29.56 |
Property Facts
| Price | $773,500 | Building Class | C |
| Price Per Unit | $154,700 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 2,424 SF |
| Cap Rate | 9.26% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1921/2023 |
| Property Subtype | Apartment | Parking Ratio | 4.12/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $773,500 |
| Price Per Unit | $154,700 |
| Sale Type | Investment |
| Cap Rate | 9.26% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,424 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2023 |
| Parking Ratio | 4.12/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,650 | - |
| 1+1 | 2 | $1,650 | - |
| Studios | 1 | $1,240 | - |
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PROPERTY TAXES
| Parcel Number | 74-43-43-16-02-038-0090 | Total Assessment | $166,872 (2023) |
| Land Assessment | $60,024 (2023) | Annual Taxes | $4,952 ($2.04/SF) |
| Improvements Assessment | $121,677 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
74-43-43-16-02-038-0090
Land Assessment
$60,024 (2023)
Improvements Assessment
$121,677 (2023)
Total Assessment
$166,872 (2023)
Annual Taxes
$4,952 ($2.04/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | MF14-C2 (CPMF14C2—CP-MF14C2 HIST MF LOW DENS C2 (74-WEST PALM BEACH)) |
| MF14-C2 (CPMF14C2—CP-MF14C2 HIST MF LOW DENS C2 (74-WEST PALM BEACH)) |
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