🔥 Off-Market Cash Cow – 43 Units + 2 Retail | Palm Beach County, FL 🔥

[Jaratt Mullaney]

🔥 OFF-MARKET CASH COW – 43 Units + 2 Retail | Palm Beach County, FL 🔥
💰 Asking: $1.9M | Appraised: $2.7M (June '23) | 10.2%–11.6% Cap Rate

🏢 Asset: 43-Unit Multifamily + 2 Commercial Storefronts
📍 Location: Belle Glade, FL (Palm Beach County)
📆 Built: 1957 | 📐 17,556 SF | 🧱 B-2 Zoning | 🔒 95.3% Occupancy

🛏 Unit Mix:
• 24 Studios (~330 SF avg)
• 19 One-Beds (~400 SF avg)
• 2 Retail Spaces (@ $950/mo Pro Forma)

💡 Recent CapEx (~$205K): Paint, windows, cabinets, electric, parking
📈 Current Avg Rent: $643 → Market Rent: $750–$875/unit

📊 Financial Highlights:
• Pro Forma NOI: $246K (Cash) / $277K (Sec 8)
• Cap Rate: 10.2%–11.6% at $1.9M
• Built-In Equity: $800K
• Cash Flow After Debt (25% down, 8% rate):
→ $96K (Cash) / $129K (Sec 8)
• CoC Return: 20.4% – 27.3%

📌 Why It’s Hot:
✓ Fully stabilized, cash-flowing asset
✓ Major upside with rental increases
✓ Turnkey OR Section 8 play
✓ Dense working-class submarket w/ strong demand
✓ Seller seeking $1.9M — priced $800K below appraisal

📥 DM me for rent roll, T12, appraisal, and walkthrough video.