Address
401 Southwind Drive North Palm Beach, FL
Price
$ 2,800,000
Property Attributes
  • MLS#RX-10698986
  • TypeCommercial
  • CountyPALM BEACH
  • CityNorth Palm Beach
  • Area5260
  • NeighborhoodNorth Palm Beach Village Of 3
  • Zip33408
  • StyleIncome
  • Year Built1968
  • Taxes24983
  • Price$ 2,800,000
  • Bedrooms0
  • Full Bathrooms16
  • Half Bathrooms0
  • Sqr Footage10304
Listing Provided Courtesy Of:
Palm Beachers Realty LLC
Data Source:
Beaches MLS
Property Description

Fully Remodeled, New Everything, 8 Unit Apartment Building, Each Unit Separate Electric and Water Meters. Each Unit has 3 Bedrooms and 2 Bathrooms with Balconies and/or Fenced in Yards. Income and Expenses on MLS under Documents. Income = $205,000 Expenses = $30,000 NOI = $175,000 Cap Rate = 6.25% @ Full Purchase Price, with Room to Raise Rents. All Tenants On Annual Leases, with Rent Increases Scheduled Annually Per Lease. Each Tenant was screened and Paid $6,300 or More w/ Pet Fee at Move In, 1st Month, Last Month, & 1 Month Deposit. This is a Great Building that will require No Work as over $500,000 was put into the building in the start of 2020, As you see the Photos. Every Unit looks like the photos completely redone & Balconies Look onto the Water, 1st Floor Patios have Fenced yards.

Price History
3/11/2021 Listed $2,800,000

General Features

Area 5260
Auction No
Built Desc Resale
Construction CBS
Cooling Ceiling Fan, Central
Flooring Ceramic Tile
For Lease No
Geo Area PB29
Geo Lat 26.809684
Geo Lon -80.066221
Heating Central
Legal Description NORTH PALM BEACH VILLAGE OF PL 3 LT 16 BLK 38
Possession At Closing
Property Type E
R.E. Taxes 24000.00
Roof Tar/Gravel
Status Active
Stories 2.0
Subdivision NORTH PALM BEACH VILLAGE OF 3
Tax Year 2020
Tenant Pays Common Area Maint., Electric, Water
Terms Considered Cash, Conventional, Other
Total Expenses 31000.00
Type MultiFamily (5+ Units)
Type Of Building Free Standing, Resident. Multi-Fam.
Use Income, Other
Utilities Cable, Electric, Public Sewer
Virtual Tour https://www.propertypanorama.com/401-Southwind-Drive-North-Palm-Beach-FL-33408/unbranded
Waterfront No
Year Built 1968
Zoning R3

Interior Features

Total Number of Units 8
Unit 1: Unit Desc 3 Bedroom

Exterior Features

Sale Includes Building and Land, Fixtures
Lot Size 0.35
Property Desc 8 Unit Building

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 33408

Price
AVG $1.49M
$2.8M
Taxes
AVG $27,760
$24,983
Visits
AVG 66
13
Year Built
AVG 1986
1968

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.