Apartment Buildings For Sale in West Palm Beach FL

$2,000,000.00
Call Now for more information:
1-561-299-0912

Description

13901 Folkestone Cr. & 1031 Goldenrod Rd.

Some listings show the Apartment Investment address as 13901 Folkstone Circle.

Price $2,000,000 Cap Rate 7%
Number of Units 4 Occupancy 100%
Building Size 16,850 SF No. Stories 2
Price per Unit $500,000 Year Built 1998
Property Type Multifamily Lot Size 32,000 SF
Property Sub-type Duplex – Triplex – Fourplex APN / Parcel ID 73-41-44-09-02-073-0180
Property Use Type Investment Parking Ratio 0.39 / 1,000 SF

 

West Palm Beach Investment Property Description

These attractive 2 Quadplexes are located in the heart of the Village of Wellington, FL (AKA The Equestrian Capital of the World).

8 units; 36 Bedrooms; $ per unit $250,000; ~$117 psf. Some Rental Property Units feature Wheelchair Accessible (Rooms).

This Apartments are located in the heart of the Village of Wellington. These Rental Units have an immediate proximity to Equestrian Overlay District, Publix, Restaurants, Schools (all A-Rated), Parks, Shopping, etc. which makes these apartments more attractive.

Highlights of Investment Properties

  • Total Gross Yearly Income = $171,900
  • All units 2 Story CBS
  • 36 Total Bedrooms (4 Five Bedroom Units; 4 Four Bedroom Units)
  • Total Annual Property Taxes = ~$24,000
  • Total Annual Insurance = ~$ 4,700
  • Total Annual Landscape Maintenance = $1800

 

Unit Mix Information

Description No. Units Avg. Mo. Rent Sq. Ft.
13901 Folkesotne Cir. 4 $1,925 10
1031 Goldenrod Rd. 4 $1,656 7

Financial Summary (Actual)

Year 2015 Operating Expenses $32,000
Scheduled Gross Income $172,000 Net Operating Income $140,000
Effective Gross Income $172,000

Debt & Equity Information

Debt Type Existing Due In 25
Loan Amount $375,000 Annual Debt Service $26,000
Interest Rate 4.62% Loan Description 30 yr. fixed @ 4.625%
Amortized Over 30

 

Listing information courtesy of Rett Waldman. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.

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