9 Waterfront Units in Lake Worth (AirBnB 12.9% Cap Rate) For Sale

  • $1,550,000
  • 9 Units
  • 9 Bedrooms / 9 Bathrooms Total
  • Commercial
  • Waterfront
  • 4 Buildings total:
    • Building #1: 1,160 Sq ft CBS built in 1952
  • with 2 bedrooms and 2 baths
    • Building#2: 900 Sq ft CBS built in 1952
  • with 2 bedrooms and 2 baths
    • Building #3: 900 Sq ft CBS built in 1952
  • with 2 bedrooms and 2 baths
    • Building #4: 900 Sq ft CBS built in 1952
  • with 2 bedrooms and 2 baths
    • Studio Apartment
  • Total living Sq ft: 3,956
  • Condition:
    • All 9 Units are fully furnished, and operating as a cash flowing airbnb.
    • All 9 Units are in Great Condition.
    • All Tankless water heaters
    • All Led Fixtures, Central AC units are 3 years old,
    • All have new AC Ducts, All Stainless Steel appliances.
  • Gross Annual Income:
    • Airbnb: $275,132
    • Square: $6,988
    • Cash: $10,000
  •  Annual Expenses:
    • RE Taxes: $9,668
    • Cleaning: $32,000
    • Insurance: $7,500
    • Landscaping: $2,400
    • Supplies: $6,000
    • Utilities: $8,000
    • Internet/Cable: $4,000
    • Bed (Hotel) Tax: $12,000
    • Misc: $10,000
  • Total Gross Annual Income: $292,120
  • Total Annual Expenses: $91,868
  • Net Operating/Annual Income is $200,252
  • Cap Rate: 12.9%
Price:
$1,550,000
Address:
Terms:
For Sale
Property Type:
Multi-family

Call 561-264-5609 for more details