Multifamily in Riviera Beach, FL 33404

Timber Pine, 1619 W 27th St

VALUE OPPORTUNITY THAT RARELY COMES UP, WITH UNITS THAT ARE IN GOOD SHAPE. ALL THE UNITS ARE 2 BEDROOMS 1 BATH. LARGE MODERN KITCHEN AND HAS A ROW OF CABINETS TOP AND BOTTOM. THERE ARE WASHER AND DRYER HOOK-UP IN ALL THE UNITS. ALL 4 UNITS ARE DEEDED SEPARATELY. HOWEVER, WE ARE SELLING BOTH 4 UNITS AS A GROUP. THE SELLER HAS HAD MOST OF THESE TENANTS FOR A LONG TIME AND THOUGHT OF THEM AS AN EXTENDED FAMILY. HE NEVER PAST ALONG THE PRICE INCREASES THAT HAS HAPPEN IN SOUTH FLORIDA. THE RENTAL ESTIMATES ARE $1,755. TO $1999 PER MONTH. SO WE SHOWED $1750 AS A PROFORMA ESTIMATE. DO NOT WALK THE PROPERTY WITHOUT US BECAUSE SOME OF THE TENANTS WILL CALL THE POLICE. THIS IS A VALUE AD OPPORTUNITY THAT RARELY COMES UP WITH UNITS THAT ARE IN THIS GOOD OF SHAPE, ALL OF THE UNITS ARE 2 BEDROOM 1 BATH UNITS WITH A VERY LARGE AND MODERN KITCHEN AND HAS A ROW OF CABINETS BELOW AND ON TOP OF CABINETS. THE OWNERS HAVE KEPT RENTS AT THE SAME PRICE FOR 12 YEARS. IF YOU RAISE THE RENTS PER MONTH YOUR CAP RATE WOULD BE OVER 7%. AT THE TIME OF THIS LISTING THE LOWEST PRICE RENTAL IN RIVIERA BEACH IS $1,600. FOR A 1 BEDROOM UNIT. OVERALL THE PROPERTY IS IN GOOD OVERALL SHAPE. THERE ARE WASHER AND DRYER HOOKUPS AND 2 OF THE A/C UNITS ARE NEWER. EACH OF THE UNITS ARE DEEDED SEPARATELY AND THERE COULD BE ADDITIONAL INCOME FROM SELLING THEM INDIVIDUALLY. THIS LISTING IS SUBJECT TO ERRORS, OMISSIONS AND CHANGES AT ANY TIME. 4 UNITS IN 1 SALE OR 8 IN 2. VERY GOOD BUY