4063-4085 Herbertz Rd
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4063-4085 Herbertz Rd
6 Unit Apartment Building $2,430,749 CAD ($405,125 CAD/Unit) 7.51% Cap Rate Lake Worth, FL 33461
Investment Highlights
- Median household income of $64,402 within a three mile radius
- 14 minute drive from Palm Beach International Airport
- Lake Worth Rd has a daily traffic count of 38,437 vehicles
Executive Summary
Excellent opportunity to acquire a strong cash flowing multifamily asset that is 100% occupied and priced at a 7.5% cap rate. Property consists of (3) duplexes for a total of 6 units on almost an acre of land. Each unit has a similar floor plan comprised of 3 bedrooms and 1 full bath. Upgrades vary by unit and include impact sliders/windows, new ACs (in 4 of 6 units), updated bathrooms/ kitchens, new tile flooring, fresh paint, etc. The exterior was just painted, landscaped, offers plenty of parking, and new exterior lighting. Attached is a brochure with more details.
Property Facts
| Price | $2,430,749 CAD | Building Class | C |
| Price Per Unit | $405,125 CAD | Lot Size | 0.86 AC |
| Sale Type | Investment | Building Size | 5,880 SF |
| Cap Rate | 7.51% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 2.04/1,000 SF |
| Apartment Style | Garden |
| Price | $2,430,749 CAD |
| Price Per Unit | $405,125 CAD |
| Sale Type | Investment |
| Cap Rate | 7.51% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.86 AC |
| Building Size | 5,880 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1979 |
| Parking Ratio | 2.04/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Eat-in Kitchen
- Refrigerator
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | 980 |
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zoning
| Zoning Code | RM (The RM district is intended primarily for the development of multiple family dwelling units.) |
| RM (The RM district is intended primarily for the development of multiple family dwelling units.) |
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4063-4085 Herbertz Rd
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