Multifamily in Margate, FL 33068

Kimberly Forest, 571 Kathy Ln #1-4

Great FOURPLEX UNIT in a desirable residential area of Margate. All 2 bedrooms 1 bathroom with ceramic tiled floor. The property has central air/heat in all units and recently passed the city of Margate structural inspections. Owner pays water average of $250/mo., Trash $128, Taxes $9680 . All tenants are long-term tenants over 5-7 years with a reduced rent rate of $1400 per month (starting from 3/2023), way below market rent of $1800-$2000 per month. Only month to month verbal leases are in force. Potential for higher rental income with some updating improvements to a cap rate of 9%. Property sold AS IS subject to inspections. Corporate-owned property. Washer and Dryer hook up ready for coin laundry for potential additional income. storage room and utility room in the back.