Pending
405 SE 23rd Ave
Boynton Beach FL, 33435
$850,000
$404.76 per sqft
Pending
2,100 sqft
Multi-family
Built in 1973
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.
A11350438
MLSⓇ ID
March 1, 2023
Listed
November 21, 2024
Updated
Map
405 SE 23rd Ave
Boynton Beach FL, 33435
Interior Features
Total Stories
1
Floor Description
Other, Parquet, Tile
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Reverse Cycle Unit
Exterior/Building Features
Lot Features
Less Than 1/4 Acre Lot
Architectual Style
Attached, Other
Roof
Other
Sewer
Public Sewer
Other Property Details
Area Name
Robinson
Taxes
$7,377
Tax Frequency
Annually
Days on Market
259
Garage
No
Parking Total
8
View
No
County
Palm Beach County
Pool
No
Zoning
C2 (city
Listing History
Date | Event | Price |
|---|---|---|
11/15/2023 | Pending | — |
8/29/2023 | Price change | $850,000 6% |
7/20/2023 | Price change | $795,000 -4% |
7/12/2023 | Price change | $820,000 -5% |
7/3/2023 | Price change | $855,000 -1% |
6/14/2023 | Price change | $860,000 -2% |
6/5/2023 | Price change | $870,000 -1% |
6/5/2023 | Price change | $874,900 -1% |
4/15/2023 | Price change | $875,000 2% |
Listed by: Beachfront Realty Inc
Listing Contact: 786-985-1374
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Data last updated 11:49 PM UTC, 11/21/2024.