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3723 Morton Ave 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 6% Cap Rate West Palm Beach, FL 33405
INVESTMENT HIGHLIGHTS
- 11 minutes from Palm Beach International Airport
- Easy access to Interstate 95 and Route 1
- Minutes from Palm Beach Coach line and Mar-a-Lago Club
EXECUTIVE SUMMARY
This is six cottages, 100% tenant occupied on annual leases. The property is zoned multi family (MF20) and there is the optionality to develop up to 9 units (.46 acres). See the diligence report in the documents section. Great West Palm Beach location close to Dixie Hwy and minutes to downtown, beach, I95, and shopping/dining.
FINANCIAL SUMMARY (ACTUAL - 2024) 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
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) 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 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 6% | Building Size | 3,696 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1922 |
| Zoning | MF20 - MF20 (city)/MULTI-FAMILY RESIDENTIAL (HIGH DENSITY) DISTRICT | ||
| Price | $1,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 3,696 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1922 |
| Zoning | MF20 - MF20 (city)/MULTI-FAMILY RESIDENTIAL (HIGH DENSITY) DISTRICT |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 1 | - | - |
| 2+1 | 3 | - | - |
| 1+1 | 2 | - | - |
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 74-43-43-33-29-008-0100 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $476,133 |
PROPERTY TAXES
Parcel Number
74-43-43-33-29-008-0100
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$476,133
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3723 Morton Ave
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