Additional Details

• Important Details: -->Buyer agrees to assume current month-to-month tenants with a combined rent of $6800/mo. --> Land Use: Multi Family 10 Units Less -->Appraised recently @ $609,000
• Features: RARE, PRIME LOCATION for a FULLY RENTED Multifamily in LAKE WORTH BEACH! This concrete block 5 bedroom, 4 bathroom features 2722 sqft. First unit is two bedroom/two bath approx. 1123sq ft, second unit is a two bedroom/one bath approx. 961sqft, and third unit is a one bedroom/one bath approx 638sqft. Each unit has its own electric meter, a stove, refrigerator, microwave, living area, bedroom and bath. Being offered rent ready for immediate cashflow! Don't miss out on this rare opportunity!
• Potential ARV: $700,000-$750,000
• Rehab Description: For a rental, keep the existing tenants in place and assuming the monthly cashflow. The roof and AC appear to be in good condition. To maximize rent modernize the interior by updating the flooring, kitchen, baths, and fixtures/trim. Apply interior/exterior fresh paint and deep clean.
• Estimated Rehab: $15,000-$30,000
• Ideal Investment Strategy: Rental/Resale
• Comparable Rent: $6800/Total
• Construction: CBS
• Occupancy: Rented for a total of $6800/mo
• Comp 1: 1025 S F Street Unit#1-3, Lake Worth Beach, FL 33460 Triplex (3-2/1's) 2280 SQFT 1975 Build PENDING @ $600,000 (6 days on the Market) (Rented for a total of $4200/mo) (Basic updates throughout)
• Comp 2: 311 S J Street, Lake Worth Beach, FL 33460 Triplex (2-1/1's 1-2/1) 1582 SQFT 1945 Build SOLD @ $499,000 (50K above ask/11 days on the market) (Rented for a total of $3750/mo) (1000 sqft smaller/inferior property/basic updates)
• Comp 3: 711 S N St, Lake Worth Beach, FL 33460 Nonconforming Triplex (2/1, 1/1, Studio) 1958 SQFT 1926 SOLD @ $710,000 10/06/2022 (Over 700sqft smaller/non conforming/clean condition)
• Comp 4: 315 S L Street, Lake Worth Beach, FL 33460 Triplex (2-2/1's 1-1/1) 2134 SQFT 1925 BUILD PENDING @ $749,000 (19 Days on the market) (Rented for a total of $6595/mo) (Over 600sqft smaller/fully updated units)
• Comp 5: 817 S L Street, Lake Worth Beach, FL 33460 Duplex (3/2 & 1/1) 1770 SQFT 1926 BUILD SOLD @ $550,000 11/08/22 (Rented for a total of $2300/mo) (One less door/Over 1000sqft smaller/non conforming/clean condition)
• Hard Money: Pre-Approved by PropertyForce Funding for up to 60% LTV – See PropertyForce Funding Tab