🏢 Off-Market Multifamily + Retail Opportunity

[Jaratt Mullaney]

📍 Palm Beach County, FL | Belle Glade

💰 Buy Price: $2,300,000

📈 Appraised As-Is (2023): $2,700,000
🔒 Built-In Equity: $400,000

🔍 PROPERTY SNAPSHOT

• Asset Type: 43 Multifamily Units + 2 Retail Storefronts

• Occupancy: 95.3% (Fully Stabilized)

• Year Built: 1957

• Lot Size: 0.47 Acres | Zoning: B-2

• Building Size: ±17,556 SF | Avg Unit: 361 SF

• Unit Mix: 24 Studios / 19 One-Bedrooms

• Recent CapEx: $205K in renovations

📊 FINANCIALS

Pro Forma Gross Income:

• $390K (Cash Tenants)

• $422K (Section 8 Tenants)

Effective Gross Income (EGI): $371K–$401K
Net Operating Income (NOI): $246K–$278K

Cap Rate (at $2M):

• ~9.5% (Cash)

• ~11.2% (Sec 8)

💵 SAMPLE FINANCING @ $2.3M

• Loan Terms: 75% LTV @ 8% Interest

• Down Payment: $575K

• Debt Service: ~$138K/year

Cash Flow After Debt:

• ~$108K (Cash)

• ~$140K (Sec 8)

Cash-on-Cash Return:

• ~18.8% (Cash)

• ~24.3% (Sec 8)

🚀 KEY VALUE DRIVERS

✅ Strong tenant base (Cash + Section 8)
✅ 95%+ occupancy – fully stabilized
✅ $205K in recent CapEx – heavy lifting done
✅ Located in a strong rental demand area of Palm Beach County
✅ Dual income: Residential + Retail

📩 DM for the OM, rent roll, appraisal, or to schedule a walkthrough.
🚨 Serious buyers only – this one won’t last.