Multifamily in Riviera Beach, FL 33404

Riviera Beach No HOA, 25 W 34th St

The 34th Street Portfolio consists of four properties w/ 12 units total on 34th Street all within one block of each other. New ownership will benefit from strong cash flow and economies of scale immediately at takeover from this package sale. Unit Mix: (3) Studios (7) One Bedroom/One Bath (1) Two Bedroom/One Bath (1) Two Bedroom/Two Bath The property systems have been well maintained by current ownership and have passed four-point inspections recently in order to receive property insurance coverage. Long-term tenants make up the bulk of the rent roll, with a number of tenants of 10+ years. In-place rents are priced below market rents. An outbuilding on 25 W 34th street serves as a maintenance shop/supply storage room, a great convenience for the management and maintenance of the property Extra income opportunities are present, including several storage closets not currently producing income. On-site coin laundry produces an extra stream of income. Riviera cove, D.R. Horton townhome project, was recently completed immediately south of 34th street and sold out quickly. See the economic development section for information on Riviera Beach, its economy, and development.