Boutique 16-Unit Multifamily Building | 925 S K St
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Boutique 16-Unit Multifamily Building 925 S K St
16 Unit Apartment Building $5,286,136 CAD ($330,384 CAD/Unit) 7.52% Cap Rate Lake Worth, FL 33460
Investment Highlights
- Boutique 16-Unit Apartment Building located in East Lake Worth Beach.
- New Roof in 2018 & solid Concrete Block Construction.
- 16 on-site parking spaces with additional street parking.
- 16 meticulously maintained, highly desirable, Large 1 Bedroom / 1 Bath units.
- Easy rent collection & Seller also easily self-manages the property.
Executive Summary
RPM LUXE REALTY is pleased to present this amazing 16 Unit Multifamily Jewel available in East Lake Worth Beach FL.
Size & Occupancy
This property features 16 meticulously maintained, highly desirable, large 1 bedroom 1 bath units in one of South Florida’s most sought-after rental markets. 925 S K Street is poised to deliver consistent and reliable cash flow, ease of management, and significant upside for years to come.
Prime Location & Superior Construction
Built with durable concrete block and stucco, this property combines robust construction with modern upgrades and minimal deferred maintenance. The roof, replaced less than six years ago, ensures peace of mind for investors. Located in the thriving East Lake Worth Beach, this area is a favorite among renters and a proven winner for investors seeking stability and growth.
Turnkey Property with Upside Potential
Surrounded by established single-family neighborhoods, 925 S K Street delivers unparalleled convenience. Its proximity to shopping, major employment centers, and daily conveniences makes it highly appealing to tenants. While current rents are competitive for the market, there’s considerable potential for increases, as the current owner has prioritized tenant retention and steady cash flow.
High Demand & Limited Supply
While new Class A and luxury developments cater to the high-end rental market, the majority of South Florida’s population growth stems from working- and middle-class households. Despite this shift, the supply of affordable Class B and C apartments has remained largely static, creating a significant opportunity for investors.
This dynamic highlights a clear value proposition: Affordable multifamily housing is in high demand and short supply. 925 S K Street stands out as a premier option in this category, offering an exceptional investment opportunity for those looking to enter or expand their footprint in the thriving South Florida market.
Size & Occupancy
This property features 16 meticulously maintained, highly desirable, large 1 bedroom 1 bath units in one of South Florida’s most sought-after rental markets. 925 S K Street is poised to deliver consistent and reliable cash flow, ease of management, and significant upside for years to come.
Prime Location & Superior Construction
Built with durable concrete block and stucco, this property combines robust construction with modern upgrades and minimal deferred maintenance. The roof, replaced less than six years ago, ensures peace of mind for investors. Located in the thriving East Lake Worth Beach, this area is a favorite among renters and a proven winner for investors seeking stability and growth.
Turnkey Property with Upside Potential
Surrounded by established single-family neighborhoods, 925 S K Street delivers unparalleled convenience. Its proximity to shopping, major employment centers, and daily conveniences makes it highly appealing to tenants. While current rents are competitive for the market, there’s considerable potential for increases, as the current owner has prioritized tenant retention and steady cash flow.
High Demand & Limited Supply
While new Class A and luxury developments cater to the high-end rental market, the majority of South Florida’s population growth stems from working- and middle-class households. Despite this shift, the supply of affordable Class B and C apartments has remained largely static, creating a significant opportunity for investors.
This dynamic highlights a clear value proposition: Affordable multifamily housing is in high demand and short supply. 925 S K Street stands out as a premier option in this category, offering an exceptional investment opportunity for those looking to enter or expand their footprint in the thriving South Florida market.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
---|---|---|
Gross Rental Income | $489,197 | $57.15 |
Other Income | $11,923 | $1.39 |
Vacancy Loss | - | - |
Effective Gross Income | $501,120 | $58.54 |
Taxes | $58,238 | $6.80 |
Operating Expenses | $45,105 | $5.27 |
Total Expenses | $103,343 | $12.07 |
Net Operating Income | $397,777 | $46.47 |
Financial Summary (Actual - 2024)
Gross Rental Income (CAD) | |
---|---|
Annual | $489,197 |
Annual Per SF | $57.15 |
Other Income (CAD) | |
---|---|
Annual | $11,923 |
Annual Per SF | $1.39 |
Vacancy Loss (CAD) | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income (CAD) | |
---|---|
Annual | $501,120 |
Annual Per SF | $58.54 |
Taxes (CAD) | |
---|---|
Annual | $58,238 |
Annual Per SF | $6.80 |
Operating Expenses (CAD) | |
---|---|
Annual | $45,105 |
Annual Per SF | $5.27 |
Total Expenses (CAD) | |
---|---|
Annual | $103,343 |
Annual Per SF | $12.07 |
Net Operating Income (CAD) | |
---|---|
Annual | $397,777 |
Annual Per SF | $46.47 |
Property Facts
Price | $5,286,136 CAD | Apartment Style | Low Rise |
Price Per Unit | $330,384 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 0.32 AC |
Cap Rate | 7.52% | Building Size | 8,560 SF |
No. Units | 16 | No. Stories | 2 |
Property Type | Multifamily | Year Built/Renovated | 1967/2020 |
Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
Price | $5,286,136 CAD |
Price Per Unit | $330,384 CAD |
Sale Type | Investment |
Cap Rate | 7.52% |
No. Units | 16 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.32 AC |
Building Size | 8,560 SF |
No. Stories | 2 |
Year Built/Renovated | 1967/2020 |
Parking Ratio | 1/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 16 | - | 650 - 800 |
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
Parcel Number | 38-43-44-27-01-026-0150 | Total Assessment | $2,328,934 CAD (2023) |
Land Assessment | $883,387 CAD (2023) | Annual Taxes | $58,238 CAD ($6.80 CAD/SF) |
Improvements Assessment | $1,445,547 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
38-43-44-27-01-026-0150
Land Assessment
$883,387 CAD (2023)
Improvements Assessment
$1,445,547 CAD (2023)
Total Assessment
$2,328,934 CAD (2023)
Annual Taxes
$58,238 CAD ($6.80 CAD/SF)
Tax Year
2024
zoning
Zoning Code | SF7 |
SF7 |
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Boutique 16-Unit Multifamily Building | 925 S K St
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