Property Type:
Residential Income
Square Footage:
1,067
Status:
Closed
Current Price:
$6,400,000
List Date:
7/30/2020
Last Modified:
1/11/2026
Description
Amazing opportunity to own a 37 unit condominium complex with a 7.9% cap rate. This mint condition beautifully landscaped property sits on 3 acres in unincorporated Palm Beach County near Delray Beach area and includes a pool, tranquil pond, 2 gazebos and plenty of parking. The property was built in 1973 and consists of three buildings that include:
Thirty two 1200 s/f 2/2's
Four 1485 s/f 2/2's
One 1963 s/f 3/2
Each unit includes granite counter tops, stainless steel appliances, private washer and dryer, private balconies, tile and laminate flooring. There is only one tenant who has a master lease for the next five years. Gross monthly revenue of $59,328 & has a 0% vacancy rate. Owner responsible to pay taxes, insurance and common area. Tenant responsible for everything inside of u
Supplements: including repairing and replacing any appliances, and yearly increases in taxes and insurance. Please speak with listing agent regarding operating expenses and NOI.
Listing Office: Florida Professional R.E.
Last Updated: January - 11 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
