Description
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700Unit #2 650 SF 2/1 $1,700Unit #3 650 SF 2/1 $1,700Unit #4 275 SF Studio $1,200Unit #5 400 SF 1/1 $1,400
Location
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Listing Office: The Corcoran Group
