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733 Dr Martin Luther King Jr Blvd W 30 Unit Apartment Building $3,150,333 CAD ($105,011 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
This offering presents a rare opportunity to acquire a fully renovated 30-unit multifamily property in Belle Glade, one of Palm Beach County’s most supply-constrained and high-demand rental submarkets. The property is individually metered for water and electric, reducing ownership expenses and simplifying utility management. Renovated in 2020, the building features a new roof, PVC plumbing, and impact windows throughout, ensuring durability and compliance. A completed 40-Year Building Inspection confirms adherence to current building and safety standards, providing peace of mind for investors.
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.
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. Direct sale and 1031 exchange available for this property.
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.
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. Direct sale and 1031 exchange available for this property.
Property Facts
| Price | $3,150,333 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $105,011 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 14,550 SF |
| Cap Rate | 9.38% | Average Occupancy | 85% |
| 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 | $3,150,333 CAD |
| Price Per Unit | $105,011 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 | 85% |
| 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 | $6,403 CAD | - |
| 2+1 | 11 | $9,040 CAD | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 04-37-43-31-01-030-1020 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $879,718 CAD |
Property Taxes
Parcel Number
04-37-43-31-01-030-1020
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$879,718 CAD
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Palm Beach Property Buyers LLC
733 Dr Martin Luther King Jr Blvd W
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