351 NE 7th Ave - Apartments FOR SALE


Delray Beach, FL 33483
$4,400,000 USD
954-243-8894
351 NE 7th Ave, Delray Beach, FL for Sale
$4,400,000 USD
Apartments - FOR SALE
1/45
null | 4.98% Cap Rate

351 NE 7th Ave
Delray Beach, FL 33483


HIGHLIGHTS

  • Fully Leased to Master Tenant
  • Prime location in the heart of Delray Beach minutes from Atlantic Ave
  • Fully renovated including new hurricane windows, doors, and roof
  • All units fully furnished with new appliances
  • New heated pool with large patio with areas for social gathering
  • Master tenant operating under hotel license for short term rentals

OVERVIEW

Investors dream come true! Fully renovated apartment complex located in prestigious Delray Beach. This complex consists of two buildings with nine rental units. All units are fully leased under a master lease. The owner pays property tax and insurance. Renovation included new roof, hurricane impact doors and windows. All new plumbing, new HVAC systems, new electrical panels and appliances. New pool with paver hardscape and landscaping. Resurfaced parking lot. This is an excellent opportunity that you don't want to miss. Located minutes from Downtown Delray, within the free Delray beach ride share, and walking distance to supermarket and drug store. Investors can purchase a fully leased apartment complex with excellent tenant. Master lease tenant is operating with a hotel license for short term rentals.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/SF

$919 USD /SF

# OF UNITS

9

PRICE/UNIT

$488,889

CAP RATE

4.98%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

RM

APN/PARCEL ID

12-43-46-16-05-121-0270

ASK ABOUT THIS PROPERTY

Paul TremblayBlue Water RE, LLCMore Info
954-243-8894

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Paul TremblayBlue Water RE, LLCMore Info
954-243-8894

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.