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Multifamily

Belle Apartments

114 W Canal St S, Belle Glade, FL 33430

Listing Price: $4,600,000

Cap Rate
6.16%
Number of Units
35
Occupancy
95.0%
Price/Unit
$131,429
Price/Gross SF
$105.14
Gross SF
43,753

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market the Belle Apartments which is located at 114 W Canal Street & 33 W Avenue A, Belle Glade, which is in Palm Beach County, Florida. The offering consists of a 30-unit multi-family building recently constructed in 2018 that is made up of 12 three-bedroom / two-bathroom units and 18 two-bedroom / two-bathroom units. Also included in the opportunity is a mixed-use building built in 1939 and completely renovated in 2018, which consists of a one one-bedroom / one-bathroom unit, four two-bedroom / two-bathroom units and a 5,295 square foot commercial space currently built out and leased to BRIDGES, a program of Children's Services Council - Palm Beach County. BRIDGES currently has 10 neighborhood locations throughout Palm Beach County. Belle Apartments is comprised of two existing buildings and two additional parcels of land. In total, there are four parcels (04-37-43-31-08-000-0070, 04-37-43-31-08-000-0120, 04-37-43-31-08-000-0030, 04-37-43-31-08-000-0050) totaling 1.11 acres. Each building is built with concrete block construction and has central air-conditioning throughout. There are no rental restrictions on the property and all units can be rented as market rate. Located at the intersection of West Canal Street and South Main Street, the asset sits just east of North Main Street which is the major thoroughfare stretching through the entire city. The property benefits from it's close proximity to area retail and schools. Belle Apartments provides an investor an excellent opportunity to purchase a new construction, stable, cash flowing multifamily asset that is one of the only of its kind in the area.

Investment Highlights

  • Recently Developed, 2018 Construction Apartment Building
  • Nearly All Units Are Large Two- and Three- Bedroom Floor Plans
  • Concrete Block Construction and Central Air Conditioning Throughout
  • All Units are Market Rate with no Rent Restrictions
  • Close Proximity to Area Retail and Schools

Exclusively Listed By

Financing By

Multifamily

Belle Apartments

Listing Price: $4,600,000

Cap Rate
6.16%
Number of Units
35
Occupancy
95.0%
Price/Unit
$131,429
Price/Gross SF
$105.14
Gross SF
43,753

Investment Highlights

  • Recently Developed, 2018 Construction Apartment Building
  • Nearly All Units Are Large Two- and Three- Bedroom Floor Plans
  • Concrete Block Construction and Central Air Conditioning Throughout
  • All Units are Market Rate with no Rent Restrictions
  • Close Proximity to Area Retail and Schools

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market the Belle Apartments which is located at 114 W Canal Street & 33 W Avenue A, Belle Glade, which is in Palm Beach County, Florida. The offering consists of a 30-unit multi-family building recently constructed in 2018 that is made up of 12 three-bedroom / two-bathroom units and 18 two-bedroom / two-bathroom units. Also included in the opportunity is a mixed-use building built in 1939 and completely renovated in 2018, which consists of a one one-bedroom / one-bathroom unit, four two-bedroom / two-bathroom units and a 5,295 square foot commercial space currently built out and leased to BRIDGES, a program of Children's Services Council - Palm Beach County. BRIDGES currently has 10 neighborhood locations throughout Palm Beach County. Belle Apartments is comprised of two existing buildings and two additional parcels of land. In total, there are four parcels (04-37-43-31-08-000-0070, 04-37-43-31-08-000-0120, 04-37-43-31-08-000-0030, 04-37-43-31-08-000-0050) totaling 1.11 acres. Each building is built with concrete block construction and has central air-conditioning throughout. There are no rental restrictions on the property and all units can be rented as market rate. Located at the intersection of West Canal Street and South Main Street, the asset sits just east of North Main Street which is the major thoroughfare stretching through the entire city. The property benefits from it's close proximity to area retail and schools. Belle Apartments provides an investor an excellent opportunity to purchase a new construction, stable, cash flowing multifamily asset that is one of the only of its kind in the area.

Exclusively Listed By

Financing By

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