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  4. 700 Harlem Tenants Circle, Clewiston, FL 33440
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700 Harlem Tenants Circle
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PRICED AT ONLY: $10,000,000

Address: 700 Harlem Tenants Circle, Clewiston, FL 33440

Description

Harlem Garden Apartments is a 126 unit, fully HAP assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.

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  • MLS#: RX-11127667 ( MultiFamily (5+ Units) )
  • Street Address: 700 Harlem Tenants Circle
  • Viewed: 12
  • Price: $10,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1978
  • Bldg sqft: 0
  • Days On Market: 34
  • Additional Information
  • Geolocation: 26.7349 / -80.9467
  • County: HENDRY
  • City: Clewiston
  • Zipcode: 33440
  • Provided by: EXP Realty LLC
  • Contact: Vikaash Moosai
  • (888) 883-8509
  • DMCA Notice

Description

Harlem Garden Apartments is a 126 unit, fully HAP assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
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Features
Bedrooms / Bathrooms
  • Num Toilets: 126
Building and Construction
  • Absolute Longitude: 80.946684
  • Construction: CBS
  • Flooring: Vinyl Floor
  • Roof: Other
  • Sqft Source: Tax Rolls
  • Total Number Of Units: 126
  • Total Building Sqft: 231332.00
  • Type Of Building: Free Standing, Other, Resident. Multi-Fam.
Property Information
  • Property Condition: Resale
  • Property Desc: BEG 1460 FT S + 460
  • Property Group Id: 19990816212135227274000000
Eco-Communities
  • Waterfront Details: None
Utilities
  • Air Conditioned: 100.00
  • Cooling: Central
  • Fire Protect: Smoke Detector
  • Heating: Central
  • Num Of Stories: 1.0
  • Security: Security Patrol, TV Camera
  • Utilities: Cable, Electric, Public Water
Finance and Tax Information
  • Tax Year: 2024
Rental Information
  • Tenant Pays: Cable, Electric, Insurance, Water
Other Features
  • Annual Association / Condo Dues: 0.00
  • Avail Docs: None
  • Avail Info: Full Financials, Photos
  • Country: United States
  • Legal Desc: BEG 1460 FT S + 460 FT
  • Location: Agricultural Res, City, Subdivision
  • Miscellaneous 1: Landscaped
  • Miscellaneous 2: Manager on Premises, Meeting Room, Office
  • Multiple Ofrs Acptd: Yes
  • Parcel Id: 1 34 43 21 A00 0002 010.0
  • Possession: At Closing, Funding
  • Sale Includes: Building and Land
  • Use: Income
  • Views: 12
  • Zoning: RG4
Nearby Subdivisions
General Planclewiston   Seven K Estates S/d Unit 1  
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