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Map
$850,000
●
Property -
In Contract
405 SE 23rd Ave
Boynton Beach, FL 33435
Studio
0 Bath
2100 Sqft
$850,000
RealtyHop Estimate
0.00%
Since Dec 1, 2023
National-US
Primary Model
About This Property
Actual Cap rate 6.06%, Pro forma Cap Rate 6,64%! Welcome to a
stunning fully renovated and stabilized triplex property in the
heart of Boynton Beach.
This property has undergone significant renovations in 2022-2023 totaling more than $80,000, making it an ideal investment opportunity.
Brand new facade, fence, electrical and plumbing systems, central AC, and parking.
Each unit boasts modern finishes, and the unit mix includes one (1) 1-Bed/1-Bath unit and two (2) 2-Bed/1-Bath units (some with washer & dryer) leased at market rate rents, generating $66.000 Gross income and a net operating income of $48,183 with a solid turnkey Cap Rate of 6.06%.
Upside on the rent with a potential cap rate of 6.43% and $51,093 net income.
OFFERING MEMORANDUM AVAILABLE ON REQUEST.
This property has undergone significant renovations in 2022-2023 totaling more than $80,000, making it an ideal investment opportunity.
Brand new facade, fence, electrical and plumbing systems, central AC, and parking.
Each unit boasts modern finishes, and the unit mix includes one (1) 1-Bed/1-Bath unit and two (2) 2-Bed/1-Bath units (some with washer & dryer) leased at market rate rents, generating $66.000 Gross income and a net operating income of $48,183 with a solid turnkey Cap Rate of 6.06%.
Upside on the rent with a potential cap rate of 6.43% and $51,093 net income.
OFFERING MEMORANDUM AVAILABLE ON REQUEST.
Unit Size
2,100Ft²
Days on Market
-
Land Size
-
Price per sqft
$405
Property Type
Property
Property Taxes
$615
HOA Dues
-
Year Built
1973
Listed By
Last updated: 7 months ago (Miami MLS #A11350438)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 6, 2024 | Sold to Florida Sun Corp Show | $720,000 | |
| Sold to Florida Sun Corp Show | |||
| Nov 15, 2023 | In contract | - | |
| In contract | |||
| Nov 15, 2023 | Price Increased |
$850,000
↑ $55K
(6.9%)
|
|
| Price Increased | |||
| Mar 1, 2023 | Listed by Beachfront Realty Inc | $795,000 | |
| Listed by Beachfront Realty Inc | |||
| Dec 29, 2021 | Sold | $360,000 | |
| Sold | |||
Show More
Property Highlights
Air Conditioning
Interior Details
Interior Information
Flooring Type: Other, Parquet, Tile
Exterior Details
Property Information
Square Footage: 2100
Architectural Style: Attached, Other
Year Built: 1973
Building Information
Building Name: ROBINSON
Building Area Total: 2100
Building Area Units: Square Feet
Building Area Total: 2100
Roof Features: Other
Lot Information
Lot Features: Less Than 1/4 Acre Lot
Lot Size Units: Square Feet
Financial Details
Tax Legal Description: ROBINSON ADD LT 9
Tax Annual Amount: $7,377
Tax Year: 2022
Parcel Number: 08434533060000090
Property is Zoned: C2 (city
Utilities Details
Cooling Type: Central Air
Heating Type: Reverse Cycle Unit
Sewer : Public Sewer
Location Details
No Home Owners Association
405 SE 23rd Ave
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Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
House
3
Beds
2
Baths
2,254 ft²
$304/ft²
$685,000
Sep 9, 2023
$685,000
Nov 13, 2023
$828/mo
Active
House
4
Beds
3
Baths
2,110 ft²
$344/ft²
$725,000
Nov 5, 2023
-
$647/mo
Active
Multifamily
4
Beds
4
Baths
2,012 ft²
$373/ft²
$750,000
Nov 6, 2023
-
$723/mo
Active
House
4
Beds
2
Baths
1,888 ft²
$530/ft²
$999,999
Sep 1, 2023
-
$325/mo
Active
House
3
Beds
2
Baths
1,426 ft²
$561/ft²
$799,900
Nov 13, 2023
-
$820/mo
Active
Townhouse
3
Beds
4
Baths
2,562 ft²
$388/ft²
$995,000
Sep 18, 2023
-
$1,698/mo
Active
House
4
Beds
3.5
Baths
2,999 ft²
$275/ft²
$825,000
Nov 1, 2023
-
$573/mo
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
|---|---|---|---|---|---|---|---|---|
|
10/26/2021
|
|
3 Bed
|
3 Bath
|
2100 ft²
|
$427,535
3 Bed
3 Bath
2100 ft²
|
-
-
|
-
|
Beth F Abrams
Reliant Realty ERA Powered
|
Building Info
405 Southeast 23rd Avenue
405 Southeast 23rd Avenue, Boynton Beach, FL 33435
- 1 Unit for Sale
About Boynton Beach
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Nearby Rentals
Listed by: Eric Amsallem
Beachfront Realty Inc
Last Updated: 7 months ago
Data Source: Miami MLS, MLS# A11350438
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Beachfront Realty Inc
Last Updated: 7 months ago
Data Source: Miami MLS, MLS# A11350438
Courtesy of RH Advisors, Inc. and RHP Realty NJ, Inc.
