12 APARTMENT UNITS-#21932

Multifamily / Garden Apartments / 4676 PENNY LANE , Lake Worth Florida 33461

 
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Ann Marie Lackington

Capital Commercial Real Estate Group

Office Phone: 954-455-3366-

Cell Phone: 954-512-3754

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Published on: Friday, June 27, 2014 4:08:31 PM
Updated on: Friday, June 27, 2014 4:08:31 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Florida-30913

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 1978

 

Building Size: 12,086 SqFt

Lot Size: 2 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: Capital Commercial Real Estate Group, Inc is pleased to offer for sale this well maintained, 12 unit investment property in Lake Worth for $1,050,000 ($87,500 per unit). The property includes two parcels and six buildings, which were well constructed in 1978 and sit on 1.82 acres of land. The structures are concrete block with Gable roofs, which were fully replaced in 2007. The units also feature ample parking, central heat and air and are individually metered. The unit mix is 6 two bedroom-one bath and 6 three bedroom-two baths that are currently being rented below market rate. The property is in high demand, consistently boasting 100% occupancy. This is an excellent growth investment opportunity, with a capitalization rate of 6.78%. The property is centrally located in Lake Worth, Fl and is close to shopping, restaurants, medical care and I-95.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 6.78

Commission Split (%): 2

Complete Details


Year Build: 1978

Building Size: 12,086 SqFt.

No of Stories: 1

Total Lot Area: 2.00 Acre

No of Parking: 0

No of Total Units: 12

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Not Specified

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Not Specified

Occupancy: 100%

Full Description


Capital Commercial Real Estate Group, Inc is pleased to offer for sale this well maintained, 12 unit investment property in Lake Worth for $1,050,000 ($87,500 per unit). The property includes two parcels and six buildings, which were well constructed in 1978 and sit on 1.82 acres of land. The structures are concrete block with Gable roofs, which were fully replaced in 2007. The units also feature ample parking, central heat and air and are individually metered. The unit mix is 6 two bedroom-one bath and 6 three bedroom-two baths that are currently being rented below market rate. The property is in high demand, consistently boasting 100% occupancy. This is an excellent growth investment opportunity, with a capitalization rate of 6.78%. The property is centrally located in Lake Worth, Fl and is close to shopping, restaurants, medical care and I-95.

Actual - Cash Flow


Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2013
$112,860.00
$0.00
$41,655.00
$71,205.00
$0.00
0%
Cash Flow for Current Listings
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