Description
Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $269 per day, based on similar listings in the area. Estimated short-term cap rate of -2.0%. Great opportunity to acquire a remodeled and cash flowing quadplex - ready to be delivered with one vacant unit to take advantage of an ASSUMABLE (!!!) FHA loan at 3%! The property generated in 2023 $109k in GRI (see docs for T12). Proforma for 2024 is $127k (mainly from higher rent from upgraded units + additional income). Please do not disturb the tenants. Enjoy a stabilized asset with reliable tenants (one annual lease, two month-to-month, one currently vacant unit ready to rent). This property is located just minutes away from LWB Downtown, groceries, restaurants, the beach and Palm Beach State College. Adjacent LWB Howard Park is a family friendly and recently improved recreational park (soccer, basketball, BBQ, playground, etc.) and an added value for local tenant
Property Information
Airbnb Avg Daily | See Full Details |
Occupancy Rate | See Full Details |
Monthly HOA | $0 |
Rental Policy | daily |
Yearly Taxes | $15712 |
Bedrooms | 11 |
Bathrooms | 5 |
SQFT | 3,781 |
Furnished | unknown |
Year built | 1960 |
Listing Status | Off Market |
MLS | RX-10957419 |
