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2130 Avenue S 20 Unit Apartment Building $3,700,000 ($185,000/Unit) 6.15% Cap Rate Riviera Beach, FL 33404
Investment Highlights
- Walking Distance To Riviera Beach Elementary School, JFK Middle School & Suncoast High School
- 2 & 3 Story Buildings Totaling 20 Units, Originally Built in 1967 with a New 2024 Roof Replacement
- The Property Offers Central Air Conditioning, a Gated Courtyard and On-Site Laundry Facilities
- Located Directly Across the Street from the Approved New Riviera Beach Police Department Site
- Unit Mix Consists of (10) One-Bedroom | One-Bath Units and (10) Two-Bedroom | Two-Bath Units
- Short Drive to St. Mary’s Medical Center, Children’s Hospital, Port of Palm Beach & Downtown WPB
Executive Summary
Suncoast Villas is located at 2130 Avenue S in Riviera Beach, Florida. This 20-unit apartment complex was constructed in 1967 of concrete block and stucco with 13,250 square feet of rentable area and a 0.48-acre lot. Suncoast is comprised of (10) one-bedroom/one-bathroom apartments averaging 550 square feet and (10) two-bedroom/one-bathroom apartments averaging 775 square feet all with central air conditioning. The property also features a gated courtyard and on-site laundry facilities for residents and guests.
Property Facts
| Price | $3,700,000 | Building Class | C |
| Price Per Unit | $185,000 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 13,464 SF |
| Cap Rate | 6.15% | Average Occupancy | 90% |
| Gross Rent Multiplier | 9.17 | No. Stories | 3 |
| No. Units | 20 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 1.49/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CN | ||
| Price | $3,700,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Gross Rent Multiplier | 9.17 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 13,464 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CN |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 550 |
| 2+1 | 10 | - | 775 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 56-43-42-29-04-006-0090 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,326,488 |
Property Taxes
Parcel Number
56-43-42-29-04-006-0090
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,326,488
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