- MLS®RX-10780122
- StatusClosed
- $ 1,600,000
Featured
- Price
- $ 1,600,000
- Year build
- 1984
- Sub-type
- MultiFamily (5+ Units)
- Status
- Closed
8 Unit apartment building with a community pool in East Lake Worth. There are 6 two bedroom/2 bath apartments & 2 one bedroom, one bath apartments. Each unit has separate meters. Buyer MUST be willing to buy with the current tenant in place until November 2026.Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.
Listing Courtesy of Coastal Real Estate Co
