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2123 Washington St NE
Palm Bay, FL 32905
Washington Street Apartments · Multifamily Property For Sale
·
11 Units
Investment Highlights
- 11-Unit Multifamily Property Consisting Of Studios to 3-Bedroom Units.
- Coin-Operated Laundry On-Site Provides Investors Additional Income on top of Flat Rental Rates.
- Ownership Has Slightly Below-Market Rents where an Investor could come in and increase Rents by over 10% in Year 1 through an Interior Renovation Plan
- Majority of Units Have Been Updated Since 2019 with Wide-Plank Tile Flooring and a New Metal Roof on all Buildings in October 2019.
- Investors have the Opportunity to Capitalize on Utility Reimbursements for the 2 Remaining Buildings (1 Building Already has Tenants Responsible for A
- The Palm Bay/Melbourne Area is home to a Top 10 University in Florida, Florida’s Best Ranked Airport, and 2 Forbes’ “Fortune 500 Companies”.
Property Facts
| No. Units | 11 | Building Size | 6,084 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1964/2019 |
| Building Class | B | Parking Ratio | 1.55/1,000 SF |
| Lot Size | 0.49 AC | ||
| Zoning | RS3 - residential | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.49 AC |
| Building Size | 6,084 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1964/2019 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | RS3 - residential |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $900.00 | 410 |
| 1+1 | 3 | $1,000 | 510 |
| 2+1 | 3 | $1,300 | 610 |
| 3+1 | 2 | $1,600 | 745 |
Property Taxes
| Parcel Number | 28-37-14-50-00015.0-0015.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $820,500 |
Property Taxes
Parcel Number
28-37-14-50-00015.0-0015.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$820,500
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