Address
405 SE 23rd Ave, Boynton Beach, FL
Price
$ 850,000
Property Attributes
- MLS#A11350438
- TypePending
- CountyPALM BEACH
- CityBoynton Beach
- Area4330
- NeighborhoodROBINSON
- Zip33435
- StyleTriplex
- Year Built1973
- Taxes$ 7377
- Price$ 850,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage2100
Data Source:
Southeast Florida MLS (SEFMLS)
Property 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.
| Price History | |
|---|---|
| 3/2/2023 | Listed $850,000 |
| 3/29/2023 | 1% - $849,900 |
| 7/12/2023 | 4% - $820,000 |
| 7/20/2023 | 4% - $795,000 |
General Features
| Sewer | PublicSewer |
|---|---|
| Heating | HeatPump |
| Cooling | CentralAir |
| Utilities | CableAvailable |
| Possession | CloseOfEscrow |
| Roof | Other |
| Pool Features | None |
| Construction Materials | Block |
| Year Built | 1973 |
| Stories | 1 |
| Levels | One |
| Property SubType | Triplex |
| Tax Year | 2022 |
| County | Palm Beach County |
| New Construction | No |
| Property Type | ResidentialIncome |
| HOA / Comm Assn | No |
| Attached Garage | No |
| Contingency | Pending Inspections |
| Subdivision Name | ROBINSON |
| Garage Y/N | No |
| Rent Includes | Water |
| Status | Pending |
| City | Boynton Beach |
| Buyer Agent Compensation | 2.5% |
| Disclosures | OwnerIsListingAgent |
| View Y/N | No |
| Senior Community Y/N | No |
| Zoning Description | C2 (city |
| MLS Area | 4330 |
| Private Pool | No |
| Waterfront Y/N | No |
| Carport Y/N | No |
| Street Name | 23rd Ave |
| Listing Terms | Cash,Conventional |
| Property Attached Y/N | No |
| Year Built Details | Effective Year Built |
| Land Lease Y/N | No |
| Tax Annual Amount | 7377.0 |
| Home Warranty Y/N | No |
| Lease Renewal Y/N | No |
| MLS Area Minor | Palm Beach 4200; 4210; 4320; 4330; 4340; 4350 |
| Additional Parcels Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Virtual Tour | https://www.propertypanorama.com/instaview/mia/A11350438 |
| Days on Market | 259 |
| Standard Status | Pending |
| Occupancy Description | Tenant |
| Property Sub Type Additional | Triplex |
| MobileHomeRemainsYN | No |
| PostalCity | Boynton Beach |
| Legal Description | ROBINSON ADD LT 9 |
| AttributionContact | 786-985-1374 |
Interior Features
| Flooring | Other,Parquet,Tile |
|---|---|
| Basement (Y/N) | No |
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Electric On Property Y/N | No |
Exterior Features
| Lot Features | Item14Acre |
|---|---|
| Total Parking | 8.0 |
| Spa | No |
| Building Area Total | 2100.0 |
| Lot Size Units | SquareFeet |
| Covered Spaces | 0.0 |
| Crops Included Y/N | No |
| Open Parking Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Pending Average in 33435
Price
Taxes
Visits
Year Built
Walkscore
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Data Last Updated: May 13, 2024 9:25 PM UTC
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