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$900,000

For Sale - Active
451 Silver Beach Rd Unit 1, Riviera Beach, FL 33403
4 Beds
0 Baths
3,360 Square Feet
0.18 Acres Lot
Built in 1964
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: May 29, 2025 at 03:20AM

Investment Summary


Monthly Cash Flow
-$3,843
Cap Rate
1.0%
Cash-on-Cash Return
-22.3%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-17.5%

Property Description


0.18 Acres Lot
Built in 1964
For Sale - Active
Units n/a

***ROOF 2025** Owner to have NEW Roof Installed prior to closing** **This investment opportunity features two side-by-side duplexes in the rapidly growing Riviera Beach area. 2 Duplexes being sold together.461 silver beach Parcel # 56434228350410020MLS#: RX-11068125 &451 silver beach parcel # 56434228350410030MLS#: RX-11068096. A total of four income-producing units with existing tenants and significant upside potential through rental increases.** Two Adjacent Duplexes being sold together. (Four Units Total) ($225,000 per door) Each unit features two bedrooms and one bathroom with washer/Dryer Hookups -Each unit is separately metered electric.High Rental Demand area with strong appreciation potential. *(market rents $2,000 per unit)*Current Lease Details​​‌​​​​‌​‌​​​‌‌​​​‌‌‌​​‌​​‌‌​​​​ below:

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable or Hip
  • Roof Material: Composition, Shingle

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 56434228350410030
  • Lot Size: 8050 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1964

Tax Information

  • Annual Tax: $5,705

Utilities

  • Water & Sewer: Public
  • Heating: Wall Furnace
  • Cooling: Wall/Window Unit(s)

Location

  • County: Palm Beach

Listing Details


Listed by:
Michael Johnston
The Keyes Company
(561) 577-0398

Source:
BeachesMLS
MLS#: R11068096
BeachesMLS

Investment Summary


Monthly Cash Flow
-$3,843
Cap Rate
1.0%
Cash-on-Cash Return
-22.3%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-17.5%

Purchase Details

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Purchase price:
$900,000
Amount financed:
-$720,000
Down payment:
$180,000
Closing costs:
$27,000
Rehab costs:
$0
Initial cash invested:
$207,000
Square feet:
3,360
Cost per square foot:
$268
Monthly rent per square foot:
$0.54

Financing Details

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Loan amount:
$720,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,610
Property tax:
$475
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,211

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (26%)
26%-$475-$5,705
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (51%)
51%-$925-$11,105

Cash Flow


Monthly Yearly
Net operating income:
$767 $9,204
Mortgage payments:
-$4,610 -$55,320
Cash flow:
$3,843 $46,116