405 23rd Ave ,Triplex, Robinson for Sale

405 23rd Ave for Sale

Price $850,000.00

• Lot size 2100
• Year Build 1973
• Waterfront
• Zip 33435
• Style Attached, Other
• Parking Description
• Pool Yes
• Status Pending

Description

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.

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=

ROBINSON ADD LT 9

Less Than 1/4 Acre Lot

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.

City:Boynton Beach,Zoning:C2 (city,List A O R:A-Miami Association of REALTORS,Stories:1,Tax Year:2022,Flooring:1:Parquet,2:Tile,Latitude:26.5077092,Cooling Y N:1,Heating Y N:1,List Price:850000,Listing Id:A11350438,Longitude:-80.0614744,Mls Status:Pending,Year Built:1973,Living Area:2100,Postal Code:33435,Street Name:23rd Ave,Contingency:Pending Inspections,Coordinates:1:26.5077092,Photos Count:14,Building Name:ROBINSON,Days On Market:259,Listing Terms:1:Conventional,Lot Size Units:Square Feet,M L S Area Major:Robinson,On Market Date:2023-03-01,Parcel Number:08434533060000090,Parking Total:8,Property Type:Residential Income,Stories Total:1,Street Number:405,M I A M I R E_ Style:Triplex,Off Market Date:2023-11-15,Public Remarks: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.,County Or Parish:Palm Beach County,List Office Name:Beachfront Realty Inc,Standard Status:Pending,Living Area Units:Square Feet,Major Change Type:Pending,Postal Code Plus4:7290,Property Sub Type:Triplex,State Or Province:FL,Street Dir Prefix:SE,Subdivision Name:ROBINSON,Tax Annual Amount:7377,Unparsed Address:405 SE 23rd Ave, Boynton Beach FL 33435,Listing Agreement:Exclusive Right To Sell,Year Built Details:Effective Year Built,Building Area Total:2100,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:404.7619,Original List Price:850000,Previous List Price:795000,Architectural Style:1:Other,Documents Available:1:Investment Analysis,2:Copy Of Lease(S),3:Rent Rolls,4:Existing Survey,I D X Participation Y N:1,Number Of Units Total:3,Syndication Remarks: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 Contract Date:2023-03-01,Originating System I D:miamire,Public Survey Section:33,Showing Instructions:Call Listing Agent,Street Number Numeric:405,Tax Legal Description:ROBINSON ADD LT 9,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:1%,M I A M I R E_ Adjusted Area S F:2100,M I A M I R E_ Internet Remarks:Situated just a short distance from the beach, this is a beautiful property that offers easy access to a variety of local attractions and amenities.,Contract Status Change Date:2023-11-15,Internet Address Display Y N:1,M I A M I R E_ Attribution Contact:786-985-1374,Transaction Broker Compensation:2.5%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:404.76,