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Listed by Woyce Realty Investments & Consulting Inc.
$2,895,000
Est. payment /mo
8 Baths
4,540 SqFt
New
220 Walton BLVD West Palm Beach, FL 33405
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Key Details
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Active
Purchase Type For Sale
Square Footage 4,540 sqft
Price per Sqft $637
Subdivision Estates Of South Palm Beach Add 1
MLS Listing ID RX-11084283
Year Built 1950
Annual Tax Amount $41,319
Tax Year 2024
Lot Size 10,018 Sqft
Property Sub-Type MultiFamily (5+ Units)
Property Description
8-unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 5.38%. One unit is vacant and Airbnb-ready; the other 7 are on annual leases. Huge upside by converting corner units to short-term rentals--conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.
Location
State FL
County Palm Beach
Area 5440
Zoning MF20(c
Interior
Heating Central
Cooling Ceiling Fan, Central, Electric
Flooring Tile, Vinyl Floor
Fireplaces Type Smoke Detector
Exterior
Utilities Available Electric, Municipal Water
Roof Type Comp Shingle
Building
Story 100.00
Others
Acceptable Financing Cash
Listing Terms Cash
Financing Cash