Excellent opportunity to acquire a well-maintained 6-unit multifamily property in South Florida. The property consists of three separate buildings on one parcel: a front triplex with two 1 bed/1 bath units and one 3 bed/1 bath unit, a rear duplex with two 2 bed/1 bath units, and a standalone 1… Read More bed/1 bath cottage. Several units feature private fenced backyards, enhancing tenant appeal and retention. One of the 1 bed/1 bath units will be delivered vacant in June, allowing for immediate rental upside. Each unit has it's own electric meter. Current gross rents total $8,900 /month or $106,800/year. Rents are significantly below market, providing a strong value-add opportunity. Market rent estimates: 1 bed units $1,600-$1,750, 2 bed units $1,900-$2,000, and 3 bed units $2,500+. Pro forma gross income is approximately $133,200 annually. Lease terms and current rents: Unit A (1 bed/1 bath): $1,300/month - Month to Month at Will Unit B (1 bed/1 bath cottage): $1,300/month - Month to Month at Will Unit C (3 bed/1 bath): $1,500/month - Month to Month at Will Unit D (1 bed/1 bath): $1,350/month - Month to Month at Will Unit 3075 (2 bed/1 bath): $1,650/month - lease through 10/31/2026 Unit 3077 (2 bed/1 bath): $1,800/month - lease through 3/31/2027 All leases transitioning to month-to-month at expiration for added flexibility. Two on-site laundry machines are available for tenant use, generating additional passive income via refillable laundry card systems—no coin collection required. Property is in overall good condition with no major deferred maintenance. At the current income level, the property operates at a cap rate of approximately 5.3%. Based on market rents, the pro forma cap rate increases to approximately 6.9%+. This is an excellent opportunity to acquire a stabilized income-producing asset with immediate upside potential in a highly desirable rental market. Offered at $1,125,000 ($187,500 per unit). Rent role attached in MLS. Total monthly rent = $8,900/month Annualized = $8,900 × 12 = $106,800/year Read Less
Courtesy of The Keyes Company 561-577-0398
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multi Family
Square Ft.
2,460
Lot Size
0.46 Acres
Year Built
1956
MLS Number
B26022317
30 Days Snapshot Of 33406
$282k
+10%
(avg) sold price
7
+16%
homes sold
90
-43%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1956, Construction materials: "CBS", Toal building area: 2460, 6 total units
Cooling
"Central Air", "Wall/Window Unit(s)"
Floors
"Ceramic Tile"
Heating
"Central", "Window/Wall"
Home Owner's Association
Association fee frequency: Annually
Lot
0.46 acres
Parking
"Common", 10 total parkings
Property
Zoning: RM (city)
Roof
"Tar/Gravel"
Security Features
"Fire Alarm"
Sewer
"Public Sewer"
Taxes
Annual amount: $13,183
Tenant Pays
"Cable TV"
Utilities
"Separate Meters", "Cable Available"
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