Multifamily

Lake Worth Villas

4107 S 42 Way, Lake Worth, FL 33461

Listing Price: $1,140,000

Cap Rate
5.56%
Number of Units
8
GRM
10.61
Occupancy
95.0%
Price/Unit
$142,500
Price/Gross SF
$149.76
Gross SF
7,612

Investment Overview

Marcus & Millichap, as exclusive agent, is proud to present to market Lake Worth Villas located in Lake Worth, which is in Palm Beach County, Florida. Lake Worth Villas consists of Eight (8) multifamily units on two addresses (4326 Urquhart Street and 4107 42nd Way) in Lake Worth. The unit mix consists of all Eight (8) two-bedroom / one-bathroom units that average approximately 952 square feet. The buildings were built in 1975 and 1982 and have a pitched composite roof and central air conditioning throughout. The 4326 Urquhart Street property is separately metered for both water and electric and are the tenants responsibility to pay. At the 4107 42nd Way property the landlord is responsible for paying water and the tenants pay for their electric.

Located south of Lake Worth Road, east of South Military Trial, north of Melaleuca Lane and west of South Congress Avenue the properties are situated with ease of access to major local thoroughfares including Interstate 95 and Florida's Turnpike. The properties are also ideally located within close proximity to several area economic drivers and employment centers such and Palm Beach State College.

Lake Worth Villas offers an investor the opportunity to acquire two stabilized, well-performing assets in the Lake Worth submarket that also have value add potential through completing unit renovations and increasing rent to market rates.

Investment Highlights

  • Densely Populated Lake Worth Rental Market
  • Close proximity to Major Economic Drivers Such as Palm Beach State College
  • Excellent Value Add Potential Through Increasing Current Rents to Market Rates
  • Central Air Conditioning Throughout
  • Two (2) Four-Unit Buildings within Walking Distance of Each Other

Exclusively Listed By

Financing By

Listing Price: $1,140,000

Cap Rate
5.56%
Number of Units
8
GRM
10.61
Occupancy
95.0%
Price/Unit
$142,500
Price/Gross SF
$149.76
Gross SF
7,612

Investment Highlights

  • Densely Populated Lake Worth Rental Market
  • Close proximity to Major Economic Drivers Such as Palm Beach State College
  • Excellent Value Add Potential Through Increasing Current Rents to Market Rates
  • Central Air Conditioning Throughout
  • Two (2) Four-Unit Buildings within Walking Distance of Each Other

Investment Overview

Marcus & Millichap, as exclusive agent, is proud to present to market Lake Worth Villas located in Lake Worth, which is in Palm Beach County, Florida. Lake Worth Villas consists of Eight (8) multifamily units on two addresses (4326 Urquhart Street and 4107 42nd Way) in Lake Worth. The unit mix consists of all Eight (8) two-bedroom / one-bathroom units that average approximately 952 square feet. The buildings were built in 1975 and 1982 and have a pitched composite roof and central air conditioning throughout. The 4326 Urquhart Street property is separately metered for both water and electric and are the tenants responsibility to pay. At the 4107 42nd Way property the landlord is responsible for paying water and the tenants pay for their electric.

Located south of Lake Worth Road, east of South Military Trial, north of Melaleuca Lane and west of South Congress Avenue the properties are situated with ease of access to major local thoroughfares including Interstate 95 and Florida's Turnpike. The properties are also ideally located within close proximity to several area economic drivers and employment centers such and Palm Beach State College.

Lake Worth Villas offers an investor the opportunity to acquire two stabilized, well-performing assets in the Lake Worth submarket that also have value add potential through completing unit renovations and increasing rent to market rates.

Exclusively Listed By

Financing By

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