Bought with Southeast Regional Realty Corp
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426 50th ST 1 West Palm Beach, FL 33407
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Key Details
Sold Price $238,500
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,656 sqft
Price per Sqft $144
Subdivision North Palm Bch 1
MLS Listing ID RX-10448180
Full Baths 3
Year Built 1952
Annual Tax Amount $2,686
Tax Year 2017
Lot Size 7,306 Sqft
Property Description
Long-term tenants with below market rent on two of the three units. Current monthly gross is $2,400 potential monthly gross is $2,700, annual current gross income is $28,800, potential annual gross income is $32,400. Operating expenses are property taxes : $2,687, property insurance (optional ) $1,277, general liability (optional) $458, utilities $2400/year and lawn $600/year total expenses $7,422.69. Current net annual income is $21,331, potential net annual income is $24,978. Actual cap rate is 7.75%, potential cap rate is 9.0%.
Location
State FL
County Palm Beach
Area 5420
Zoning SF7(ci
Interior
Heating Window/Wall
Cooling Wall-Win A/C
Flooring Ceramic Tile
Exterior
Exterior Feature None
Utilities Available Public Sewer
Amenities Available None
Waterfront Description None
Roof Type Comp Shingle
Building
Lot Description < 1/4 Acre
Story 1.0
Foundation CBS
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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