House in West Palm Beach, FL 33407

Northwood, 702 50th St

Introducing a rare opportunity to own a Spanish-style detached triplex in the sought-after area of West Palm Beach. This investment gem offers a current cap rate of 8.61%, making it an attractive option for those looking to enhance their real estate portfolio. Property Highlights: -Three separate rental units present a steady income stream. Unit 1 will be empty by the end of Oct 2024. Unit 2 has a year lease until Sep 2025. Unit 3 has a 6 month lease, until end of March 2025. Monthly Income: Unit 1- $2,100 (expires 10/31/25) Unit 2- $1,450 (9/1/25) Unit 3- $900 (3/31/25) -Built on a 50 x 105 lot, this property showcases classic stucco exterior walls with a durable built-up roof, ensuring long-lasting quality and minimal maintenance. -Open parking is available for each unit and is ideal for investors seeking a low-maintenance rental property. -This property is sold as-is, offering a canvas for future enhancements or customization to increase value and appeal. -A Proforma is included in the documents tab, providing detailed insights into the financial performance and potential of the property. Capitalize on the potential of West Palm Beach and secure a property that promises growth and profitability. Act fast before it's gone!