Log In/Sign Up
Your email has been sent.
733 Dr Martin Luther King Jr Blvd W 30 Unit Apartment Building $3,179,750 CAD ($105,992 CAD/Unit) 9.38% Cap Rate Belle Glade, FL 33430
INVESTMENT HIGHLIGHTS
- Fully Renovated, Turnkey 30-Unit Asset
- Low Operating Costs – Individually Metered Utilities
- Strong Cash Flow with Immediate Upside
- Below-Market Rents = Strong Value-Add Play
- New Roofs, Plumbing, Electrical = Reduced CapEx
- Located in an Opportunity Zone – Major Tax Incentives
EXECUTIVE SUMMARY
Investment Overview
A rare opportunity to acquire a fully renovated 30-unit multifamily property, individually metered for water and electric, located in Belle Glade, one of Palm Beach County’s most supply-constrained and high-demand rental submarkets.
Situated within a federally designated Opportunity Zone, this property offers an attractive combination of stable income, strong value-add potential, and long-term tax advantages, making it an excellent addition to any real estate portfolio.
Property Highlights
Individually metered water and electric — reducing ownership expenses and simplifying utility management
Fully renovated in 2020 with a new roof, PVC plumbing, and impact windows throughout
Completed 40-Year Building Inspection, confirming full compliance with current building and safety standards
100% occupied, with current rents approximately 20–25% below market, offering significant upside through rent adjustments and operational optimization
Investment Summary
This stabilized, turnkey, income-producing multifamily asset delivers both immediate cash flow and long-term appreciation potential. Located in one of Palm Beach County’s most active redevelopment corridors, it represents an ideal investment for both experienced operators and new entrants seeking a low-maintenance, high-yield property in a growing Florida market.
A rare opportunity to acquire a fully renovated 30-unit multifamily property, individually metered for water and electric, located in Belle Glade, one of Palm Beach County’s most supply-constrained and high-demand rental submarkets.
Situated within a federally designated Opportunity Zone, this property offers an attractive combination of stable income, strong value-add potential, and long-term tax advantages, making it an excellent addition to any real estate portfolio.
Property Highlights
Individually metered water and electric — reducing ownership expenses and simplifying utility management
Fully renovated in 2020 with a new roof, PVC plumbing, and impact windows throughout
Completed 40-Year Building Inspection, confirming full compliance with current building and safety standards
100% occupied, with current rents approximately 20–25% below market, offering significant upside through rent adjustments and operational optimization
Investment Summary
This stabilized, turnkey, income-producing multifamily asset delivers both immediate cash flow and long-term appreciation potential. Located in one of Palm Beach County’s most active redevelopment corridors, it represents an ideal investment for both experienced operators and new entrants seeking a low-maintenance, high-yield property in a growing Florida market.
PROPERTY FACTS
| Price | $3,179,750 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $105,992 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 14,550 SF |
| Cap Rate | 9.38% | Average Occupancy | 80% |
| Gross Rent Multiplier | 7 | No. Stories | 3 |
| No. Units | 30 | Year Built/Renovated | 1959/2020 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R-3 - Property Use Code 0300—MULTIFAMILY 10 UNITS OR MORE Zoning R-3—RESIDENTIAL (UP TO 34.8 DU/AC) (04-BELLE GLADE) | ||
| Price | $3,179,750 CAD |
| Price Per Unit | $105,992 CAD |
| Sale Type | Investment |
| Cap Rate | 9.38% |
| Gross Rent Multiplier | 7 |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 14,550 SF |
| Average Occupancy | 80% |
| No. Stories | 3 |
| Year Built/Renovated | 1959/2020 |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Property Use Code 0300—MULTIFAMILY 10 UNITS OR MORE Zoning R-3—RESIDENTIAL (UP TO 34.8 DU/AC) (04-BELLE GLADE) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | $6,463 CAD | - |
| 2+1 | 11 | $9,125 CAD | - |
PROPERTY TAXES
| Parcel Number | 04-37-43-31-01-030-1020 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $898,298 CAD |
PROPERTY TAXES
Parcel Number
04-37-43-31-01-030-1020
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$898,298 CAD
1 of 35
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Palm Beach Property Buyers LLC
733 Dr Martin Luther King Jr Blvd W
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.