305 CYPRESS Drive, Unit 1
Property Description
INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.
Broker Details
RE/MAX Prestige Realty (561) 793-1480
MLS ID: 33016356 State License Number: 3016356
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,280,000 |
| No. of Units: | 4 |
| Year Built: | 1928 |
| Lot Size: | 2,504.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $320,000 |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 0 |
ID: 3yd-RMLSFL-B26080606
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