Commercial Property for Sale | 740 SW Avenue B Pl Belle Glade, FL 33430

$274,900 20 bd, 20 ba, 9,401 sqft

274,900

FOR SALE

20

20

15% Cap rate 740 SW Avenue B Pl Belle Glade, FL 33430

 

Description:

Great rental opportunity located in the center of Belle Glade city with lots of potential! This building consist of 20 rental units and each is a 1/1. This property will require a lot of work, but the equity is there for the investor comfortable with a full rehab. This apartment building is gutted and will need a full rehab.
Rehab Cost 240k (12k per door) Contractor fee – 6k
Purchase price= $610,000 Projected cap rate is after rehab and it is greater than 15%.
Each Unit can be rented for $600 Section-8 There is a long line of approved section 8 Tenants waiting for house.
Short supply of section 8 housing in the area. ***Buyer agrees to assume Case #17-229a (minimum Housing) with a lien accruing $100 a day since October 3rd, 2017*** Buyer must properly secure property to the city of Belle Glades standards. Lien amount is approximately $21,800 to date. Liens can be negotiated with the city
Comps:
Sale Comps$1.2M – $1.4M
Rental Comps$12,000 – $14,000

Property Details

Price:
$274,900
Address:
740 SW Avenue B Pl Belle Glade, FL 33430
City:
Belle Glade
State:
Florida
Zip Code:
33430
Year Built:
1965
Terms:
For Sale
Property Type:
Commercial
Square Feet:
9,401
Bedrooms:
20
Bathrooms:
20
Const. Type:
CBS

Call (786) 565-8726 for more details

Property Location

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