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Claudio Arena

[email protected] +1(917) 349-8084

Listed by Woyce Realty Investments & Consulting Inc.

$ 2,895,000

Est. payment -/mo

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220 Walton BLVD West Palm Beach, FL 33405

8 Baths

4,540 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type MultiFamily (5+ Units)

Listing Status Active

Purchase Type For Sale

Square Footage 4,540 sqft

Price per Sqft $637

Subdivision Estates Of South Palm Beach Add 1

MLS Listing ID RX-11084283

Year Built 1950

Annual Tax Amount $41,319

Tax Year 2024

Lot Size 10,018 Sqft

Property Sub-Type MultiFamily (5+ Units)

Property Description

8-unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 5.38%. One unit is vacant and Airbnb-ready; the other 7 are on annual leases. Huge upside by converting corner units to short-term rentals--conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.

Location

State FL

County Palm Beach

Area 5440

Zoning MF20(c

Interior

Heating Central

Cooling Ceiling Fan, Central, Electric

Flooring Tile, Vinyl Floor

Fireplaces Type Smoke Detector

Exterior

Utilities Available Electric, Municipal Water

Roof Type Comp Shingle

Building

Story 100.00

Others

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

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Claudio Arena

Advisor | License ID: SL3591700

+1(917) 349-8084

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