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Multifamily

Crown Court Condominiums

905 S G St, Lake Worth, FL 33460

Listing Price: $1,525,000

Cap Rate
5.11%
Number of Units
10
Occupancy
96.0%
Price/Unit
$152,500
Price/Gross SF
$200.82
Gross SF
7,594

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present the Crown Court Condominiums located at 905 S G Street, Lake Worth Beach which is in Palm Beach County, Florida. The property consists of all two-bedroom / one-bathroom units. The offering contains all ten units within the property. The Crown Court Condominiums is comprised of one building with all units separately parceled out (38-43-44-28-30-000-9050, 38-43-44-28-30-000-9070, 38-43-44-28-30-000-9090, 38-43-44-28-30-000-9110, 38-43-44-28-30-000-9130, 38-43-44-28-30-000-9150, 38-43-44-28-30-000-9170, 38-43-44-28-30-000-9190, 38-43-44-28-30-000-9210, 38-43-44-28-30-000-9230) totaling .8 acres. The property was built in 1969 with concrete block construction. Each unit is separately metered for water and electricity and has central air throughout. All units have their own personal screened in patio space, as well as hookups for a washer & dryer. The property sits west of South Dixie Highway, between 6th and 12th Avenue, approximately 1 mile south of Lake Avenue which contains all the well-known local restaurants and retail throughout downtown Lake Worth Beach. The asset also has exceptional proximity Interstate 95, as well as Federal Highway. The Crown Court Condominiums provides an investor an excellent opportunity to purchase a stabilized cash-flowing multifamily asset that has a true value-add component with majority of current monthly rents sitting 35% below market rate.

Investment Highlights

  • Located in Densely Populated Lake Worth Beach
  • Separately Metered for Water and Electricity
  • 35% Upside Through Increasing Monthly Rents to Market Rate
  • Each Unit Has Hookups for Washer & Dryer and Offers Personal Screened-In Patio
  • Concrete Block Construction & Central Air Conditioning Throughout

Exclusively Listed By

Financing By

Multifamily

Crown Court Condominiums

Listing Price: $1,525,000

Cap Rate
5.11%
Number of Units
10
Occupancy
96.0%
Price/Unit
$152,500
Price/Gross SF
$200.82
Gross SF
7,594

Investment Highlights

  • Located in Densely Populated Lake Worth Beach
  • Separately Metered for Water and Electricity
  • 35% Upside Through Increasing Monthly Rents to Market Rate
  • Each Unit Has Hookups for Washer & Dryer and Offers Personal Screened-In Patio
  • Concrete Block Construction & Central Air Conditioning Throughout

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present the Crown Court Condominiums located at 905 S G Street, Lake Worth Beach which is in Palm Beach County, Florida. The property consists of all two-bedroom / one-bathroom units. The offering contains all ten units within the property. The Crown Court Condominiums is comprised of one building with all units separately parceled out (38-43-44-28-30-000-9050, 38-43-44-28-30-000-9070, 38-43-44-28-30-000-9090, 38-43-44-28-30-000-9110, 38-43-44-28-30-000-9130, 38-43-44-28-30-000-9150, 38-43-44-28-30-000-9170, 38-43-44-28-30-000-9190, 38-43-44-28-30-000-9210, 38-43-44-28-30-000-9230) totaling .8 acres. The property was built in 1969 with concrete block construction. Each unit is separately metered for water and electricity and has central air throughout. All units have their own personal screened in patio space, as well as hookups for a washer & dryer. The property sits west of South Dixie Highway, between 6th and 12th Avenue, approximately 1 mile south of Lake Avenue which contains all the well-known local restaurants and retail throughout downtown Lake Worth Beach. The asset also has exceptional proximity Interstate 95, as well as Federal Highway. The Crown Court Condominiums provides an investor an excellent opportunity to purchase a stabilized cash-flowing multifamily asset that has a true value-add component with majority of current monthly rents sitting 35% below market rate.

Exclusively Listed By

Financing By

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