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12% CAP. Northwood area income property



$189,000

SOLD

615 38th St

West Palm Beach, FL

  • Fantastic income opportunity producing $2350 rent. 12% CAP and room to increase.
  • this multi family consists of two separate detached houses. The main front house is a 3 bedroom, 1 1/2 bath and house in the back is 2 bedrooms and 1 bath.
  • Houses were built on west side of the lot, leaving room for a potential third structure, buyer must inquire with zoning and building department to see if allowed.
  • The huge lot is .28 acre. front house is 1536 sq. and back house is 805 sq. feet. Lot is huge, plenty of parking
  • Tenants are cash workers in construction trades, landscaping, restaurants. This is truly a CASH COW
  • Roof is water tight, tenants are happy and no repairs are needed at present time.
  • Property will need repairs to stucco in some inside walls, also kitchens and baths are old and could use updating for as current tenants move out.

Documents

 
No Documents for this Property


  • Sale Comps $240K - $250K
  • Rental Comps $2,350 - $2,500
  • Property Type Residential
  • Location West Palm Beach, FL
  • Size 2341 sq. ft.
  • Bedrooms 4
  • Bathrooms 1
  • TAV 5.4K
  • Annual Taxes $1,821
  • Year Built 1925

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