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Multifamily

Rooftop Apartments

416 Dr M.L.K. Jr Blvd W, Belle Glade, FL 33430

Listing Price: $850,000

Cap Rate
9.00%
Number of Units
30
Occupancy
85.0%
Price/Unit
$28,333
Price/Gross SF
$142.91
Gross SF
5,948

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, the Rooftop Apartments, which is located at 416 Martin Luther King Jr Boulevard W, Belle Glade in Palm Beach County, Florida. The Rooftop Apartments is comprised of a two story 30-unit multifamily apartment building and includes a parcel of vacant land that is located directly adjacent east of the property. The two parcels together (04-37-43-42-05-003-0030, 04-37-43-42-05-003-0010) total .24 acres of land. The 32 multifamily units are all efficiency style units, the building also has a desirable rooftop sun-deck area that can potentially be rented and utilized for local area events. The building constructed in 1947 is built with concrete block construction and has recently renovated plumbing, electrical system, and roof all done within the past five years. All units also feature impact windows. There are no rental restrictions on the property and all units can be rented as market rate. Located at the intersection of Martin Luther King Jr Boulevard W and SW 4th Street the property is a short distance to area schools and retail. By implementing stabile management and operations of the property, Rooftop Apartments offers an investor an excellent opportunity to greatly increase current cash flow and add significant value.

Investment Highlights

  • New roof, plumbing, and electrical system done within past 5 years
  • Concrete block construction and impact windows throughout
  • All units can be rented as market rate with no rental restrictions
  • Close proximity to area retail and schools

Exclusively Listed By

Multifamily

Rooftop Apartments

Listing Price: $850,000

Cap Rate
9.00%
Number of Units
30
Occupancy
85.0%
Price/Unit
$28,333
Price/Gross SF
$142.91
Gross SF
5,948

Investment Highlights

  • New roof, plumbing, and electrical system done within past 5 years
  • Concrete block construction and impact windows throughout
  • All units can be rented as market rate with no rental restrictions
  • Close proximity to area retail and schools

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, the Rooftop Apartments, which is located at 416 Martin Luther King Jr Boulevard W, Belle Glade in Palm Beach County, Florida. The Rooftop Apartments is comprised of a two story 30-unit multifamily apartment building and includes a parcel of vacant land that is located directly adjacent east of the property. The two parcels together (04-37-43-42-05-003-0030, 04-37-43-42-05-003-0010) total .24 acres of land. The 32 multifamily units are all efficiency style units, the building also has a desirable rooftop sun-deck area that can potentially be rented and utilized for local area events. The building constructed in 1947 is built with concrete block construction and has recently renovated plumbing, electrical system, and roof all done within the past five years. All units also feature impact windows. There are no rental restrictions on the property and all units can be rented as market rate. Located at the intersection of Martin Luther King Jr Boulevard W and SW 4th Street the property is a short distance to area schools and retail. By implementing stabile management and operations of the property, Rooftop Apartments offers an investor an excellent opportunity to greatly increase current cash flow and add significant value.

Exclusively Listed By

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