405 Se 23rd Ave
Boynton Beach, Florida
$850,000 Rental Price
- Bedrooms   - Baths

Contract Signed

Actual Cap rate 6.06%, Pro forma Cap Rate 6,64%! Welcome to a stunning fully renovated and stabilized triplex property in the heart of Boynton Beach. This property has undergone significant renovations in 2022-2023 totaling more than $80,000, making it an ideal investment opportunity. Brand new facade, fence,...

Actual Cap rate 6.06%, Pro forma Cap Rate 6,64%! Welcome to a stunning fully renovated and stabilized triplex property in the heart of Boynton Beach. This property has undergone significant renovations in 2022-2023 totaling more than $80,000, making it an ideal investment opportunity. Brand new facade, fence, electrical and plumbing systems, central AC, and parking. Each unit boasts modern finishes, and the unit mix includes one (1) 1-Bed/1-Bath unit and two (2) 2-Bed/1-Bath units (some with washer & dryer) leased at market rate rents, generating $66.000 Gross income and a net operating income of $48,183 with a solid turnkey Cap Rate of 6.06%. Upside on the rent with a potential cap rate of 6.43% and $51,093 net income. OFFERING MEMORANDUM AVAILABLE ON REQUEST.

Listing courtesy of Beachfront Realty Inc

 

Listing Details

Contract Signed
Boynton Beach, Florida
Type: Rental
Price: $850,000
Approx. square footage: 2,100 sf
Web ID: 11350438
MLS ID: A11350438

Info & Amenities

Type: Triplex
Built: 1973
Pool: Yes

Map of Area for 405 SE 23rd Ave

Listing Agent(s)