Updated over 7 years ago on .
New Off-Market 8 Unit Multifamily Boynton Beach, 10 Cap Potential
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Price: $850,000 CASH or Hard Money ONLY
Cap Rate Potential: 10%
Est. MKT. Rent $8,800/month
Current Cap: 8%
Current Rent $7550/month
Layout: (6000 sqft, 14,400 sqft lot)
Amazing property consisting of 4 duplex structures, each one is 2/1 and a 2/1 1500 sq ft each, total of 8 units on 14,400 sq ft lot.. There are 8 water meters, 8 electrical meters; tenants pay water and electric. The property is located in East Boynton Beach on the corner of Martin Luther King Junior Blvd. and N Seacrest Blvd. few streets away from the new $118 Million Boynton Downtown - final approval announced on March 13, 2018. This project will bring up the property value tremendously. All 8 units are occupied, annual income is $90,600 current cap rate is 8%.
All 8 units are occupied with leases. Tenants pay water and electric.