421 S J St 4 Unit Apartment Building $849,000 ($212,250/Unit) 5.86% Cap Rate Lake Worth, FL 33460
INVESTMENT HIGHLIGHTS
- Four Unit, Multi - Family property, 100% occupied. all the units are one bedroom one bath units.
- Four separate electric meters and one landlord electric meter.
- Located just minutes from pristine beaches, top-rated restaurants, shopping, and entertainment.
- Off street parking in the properties private lot.
EXECUTIVE SUMMARY
Don't miss this incredible opportunity to own a fully occupied quadplex in the heart of vibrant Lake Worth Beach. This turnkey, 100% tenant-occupied property offers a great cap rate, making it an ideal investment for those seeking strong cash flow from day one.
Four Unit, Multi - Family property, 100% occupied. all the units are one bedroom one bath units. Four separate electric meters and one landlord electric meter.
Located just minutes from pristine beaches, top-rated restaurants, shopping, and entertainment, this property is perfectly positioned to attract long-term renters. Each unit has been thoughtfully designed to offer comfortable living spaces.
With a strong rental history and high-demand location, this quadplex is a rare find in today's market. Whether you're expanding your portfolio or securing your first investment property, this is an opportunity you don't want to miss!
Key Highlights of Lake Worth Beach:
Beaches & Waterfront: The city has a stunning public beach with a long pier, clear waters, and white sand. The Lake Worth Lagoon offers opportunities for boating, fishing, and watersports.
Downtown & Arts Scene: The downtown area is filled with eclectic shops, restaurants, and art galleries. The city is home to the Lake Worth Playhouse and frequently hosts cultural festivals and live music events.
Historic & Residential Appeal: The city has historic neighborhoods with charming 1920s-style homes, as well as modern developments. It attracts both full-time residents and seasonal visitors.
Diversity & Community: Lake Worth Beach is known for its welcoming, diverse population, with a mix of retirees, young professionals, and artists.
Events & Festivals: The city hosts the famous Lake Worth Street Painting Festival, Gay Pride Parade, and other community-driven celebrations.
Real Estate Market: The area features a range of properties, from waterfront condos to historic bungalows and multifamily investment opportunities.
Lake Worth Beach blends coastal beauty with a lively cultural scene, making it a desirable place to live, visit, and invest in real estate. Let me know if you need specific details related to properties or market trends in the area!
Four Unit, Multi - Family property, 100% occupied. all the units are one bedroom one bath units. Four separate electric meters and one landlord electric meter.
Located just minutes from pristine beaches, top-rated restaurants, shopping, and entertainment, this property is perfectly positioned to attract long-term renters. Each unit has been thoughtfully designed to offer comfortable living spaces.
With a strong rental history and high-demand location, this quadplex is a rare find in today's market. Whether you're expanding your portfolio or securing your first investment property, this is an opportunity you don't want to miss!
Key Highlights of Lake Worth Beach:
Beaches & Waterfront: The city has a stunning public beach with a long pier, clear waters, and white sand. The Lake Worth Lagoon offers opportunities for boating, fishing, and watersports.
Downtown & Arts Scene: The downtown area is filled with eclectic shops, restaurants, and art galleries. The city is home to the Lake Worth Playhouse and frequently hosts cultural festivals and live music events.
Historic & Residential Appeal: The city has historic neighborhoods with charming 1920s-style homes, as well as modern developments. It attracts both full-time residents and seasonal visitors.
Diversity & Community: Lake Worth Beach is known for its welcoming, diverse population, with a mix of retirees, young professionals, and artists.
Events & Festivals: The city hosts the famous Lake Worth Street Painting Festival, Gay Pride Parade, and other community-driven celebrations.
Real Estate Market: The area features a range of properties, from waterfront condos to historic bungalows and multifamily investment opportunities.
Lake Worth Beach blends coastal beauty with a lively cultural scene, making it a desirable place to live, visit, and invest in real estate. Let me know if you need specific details related to properties or market trends in the area!
DATA ROOM Click Here to Access
- Offering Memorandum
- Market Information
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$73,200
|
$29.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$73,200
|
$29.42
|
| Taxes |
$14,889
|
$5.98
|
| Operating Expenses |
$8,838
|
$3.55
|
| Total Expenses |
$23,727
|
$9.54
|
| Net Operating Income |
$49,473
|
$19.88
|
PROPERTY FACTS
| Price | $849,000 |
| Price Per Unit | $212,250 |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,488 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1979/2018 |
| Zoning | SF-R - Single Family Residential District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,550 | 622 |
Walk Score®
Very Walkable (84)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-151-0270 | Total Assessment | $552,520 |
| Land Assessment | $0 | Annual Taxes | $14,889 ($5.98/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 Payable 2024 |
