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1655 Florida Mango Rd 12 Unit Apartment Building $3,140,820 CAD ($261,735 CAD/Unit) 5.93% Cap Rate West Palm Beach, FL 33406
INVESTMENT HIGHLIGHTS
- On-site coin laundry with two newer machines generates additional income
- Below-market rents offer strong upside potential through rent adjustments
- Landlord covers water and common area expenses
- Long-term tenants provide stable occupancy and consistent cash flow
- Excellent investment opportunity in West Palm Beach with value-add potential
EXECUTIVE SUMMARY
Excellent investment opportunity featuring a 12-unit multifamily property with all 1-bedroom, 1-bathroom units. Each unit has a separate electric meter; the landlord pays for water, common area electric, and lawn maintenance. On-site coin laundry with two newer washers and dryers provides additional income. Most tenants are long-term with below-market rents, offering strong upside potential.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,140,820 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $261,735 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 5.93% | Building Size | 7,448 SF |
| Sale Condition | Build to Suit | Average Occupancy | 100% |
| Gross Rent Multiplier | 15.06 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1969 |
| Property Type | Multifamily | Parking Ratio | 2.42/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RH, County - Multifamily residential development, including apartments and townhomes, in medium-density areas | ||
| Price | $3,140,820 CAD |
| Price Per Unit | $261,735 CAD |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| Sale Condition | Build to Suit |
| Gross Rent Multiplier | 15.06 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 7,448 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 2.42/1,000 SF |
| Zoning | RH, County - Multifamily residential development, including apartments and townhomes, in medium-density areas |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
- Waterfront
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
PROPERTY TAXES
| Parcel Number | 00-43-44-08-17-000-0092 | Total Assessment | $1,691,545 CAD (2024) |
| Land Assessment | $0 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
00-43-44-08-17-000-0092
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$1,691,545 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1655 Florida Mango Rd
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