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Wade M. Berlin

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  4. 220 Walton Boulevard, West Palm Beach, FL 33405
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220 Walton Boulevard
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PRICED AT ONLY: $2,895,000

Address: 220 Walton Boulevard, West Palm Beach, FL 33405

Description

8 unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 5.38%. One unit is vacant and Airbnb ready; the other 7 are on annual leases. Huge upside by converting corner units to short term rentals conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.

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  • MLS#: RX-11084283 ( MultiFamily (5+ Units) )
  • Street Address: 220 Walton Boulevard
  • Viewed: 10
  • Price: $2,895,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1950
  • Bldg sqft: 0
  • Days On Market: 118

Description

8 unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 5.38%. One unit is vacant and Airbnb ready; the other 7 are on annual leases. Huge upside by converting corner units to short term rentals conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.
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Features
Building and Construction
  • Absolute Longitude: 80.051092
  • Flooring: Tile, Vinyl Floor
  • Roof: Comp Shingle
  • Sqft Source: Tax Rolls
  • Total Building Sqft: 4540.00
  • Type Of Building: Resident. Multi-Fam.
Property Information
  • Property Desc: ESTS OF SOUTH PALM B
  • Property Group Id: 19990816212135227274000000
Utilities
  • Air Conditioned: 100.00
  • Cooling: Ceiling Fan, Central, Electric
  • Fire Protect: Smoke Detector
  • Heating: Central
  • Num Of Stories: 1.0
  • Utilities: Electric, Municipal Water
Finance and Tax Information
  • Expenses Total Expenses: 4449.00
  • Tax Year: 2024
Rental Information
  • Tenant Pays: Cable, Electric
Other Features
  • Avail Docs: Survey
  • Avail Info: Contracts, Deed, Photos
  • Country: United States
  • Legal Desc: ESTS OF SOUTH PALM BEACH ADD NO 1 LTS 78 THRU 81
  • Parcel Id: 74434334150000780
  • Possession: At Closing
  • Sale Includes: Building Only, Fixtures
  • Use: Income
  • Views: 10
  • Zoning: MF20(c
Nearby Subdivisions
Belvedere South Pl 3 Repl Pt O   El Cid Park Add   Estates Of South Palm Beach Ad   Homewood 1st Add   Homewood Wpb In   Ind Center   Maddock Add Wpb   Saunders   South Palm Beach Estates   Tuxedo Park   Villas On Antique Row   Woodlawn  

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Wade M. Berlin

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