37280 Okeechobee Ave #32 Active Save Request In-Person Tour Request Virtual Tour
Canal Point,FL 33438
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 20,812 sqft
Price per Sqft $153
MLS Listing ID A11863544
Year Built 1960
Annual Tax Amount $24,515
Lot Size 1.592 Acres
Property Sub-Type Multi Family
Property Description
Canal Point Apartments presents a rare value-add investment with immediate cash flow and strong upside. The community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. The remaining 16 units require renovations to unlock premium rents and drive the ARV to $6.5M. Another single-family home is located near site and is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. With stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply.
Location
State FL
County Palm Beach
Area 5002
Others
Acceptable Financing Cash,Conventional,Owner May Carry,Other
Listing Terms Cash,Conventional,Owner May Carry,Other
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11863544