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1010 S N Street , #101

Lake Worth, FL 33460
  • $1,800,000
  • STATUS: Active Under Contract
  • ON SITE: 165 Days
  • ID#: RX-10780122
Under Contract
UPDATED: 62 min ago
$1,800,000
  • 0
    BEDS
  • 0.31
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,568
    SQFT
  • $238
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1984
County:
Area:

School Ratings & Info

Description

8 Unit apartment building with a community pool in East Lake Worth. There are 6 two bedroom/2 bath apartments & 2 one bedroom, one bath apartments. Each unit has separate meters. Buyer MUST be willing to buy with the current tenant in place until November 2026.Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.

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www.ivaniahomes.net/homes/126209668
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1010 S N Street , #101 Lake Worth, FL 33460

  • Price: $1,800,000
  • Status: Active Under Contract
  • On Site: 165 Days
  • Updated: 62 min ago
  • ID#: RX-10780122
0
Beds
0
Baths
0
½ Baths
0.31
Acres
7,568
SQFT
$238
$/SQFT
1984
Built
Neighborhood:
Lake Worth Town of Add 1
County:
Palm Beach
Area:
Lake Worth
Property Description
8 Unit apartment building with a community pool in East Lake Worth. There are 6 two bedroom/2 bath apartments & 2 one bedroom, one bath apartments. Each unit has separate meters. Buyer MUST be willing to buy with the current tenant in place until November 2026.Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.
Exterior Features

Roof Comp Rolled

Interior Features

Bath Toilets 14.00 Cooling Central Flooring Other Heating Central Percent Air Conditioned 100.00

Property Features

Auction No Available Docs None Available Info Copies Of Lease Contingent Active Under Contract Contingents Financing Fire Protection Smoke Detector For Lease No For Sale Yes Lease Long TermTriple Net List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Meters 8.00 Possession Subject To Lease Sale Includes Building And Land Tax Amount Real Estate Taxes 19909.10 Tax Year 2021 Tenant Pays Common Area Maint.InsuranceJanitorialTaxes Terms Considered Cash Type Of Building Resident. Single Fam Use Income Utilities CableElectricPublic SewerPublic WaterSeparate Meter Zoning Sf-R(C

Listing provided courtesy of Coastal Real Estate Co. Listing information © 2022 BeachesMLS
 
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