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Euro American means
business....
Call today your commercial and income producing property needs. |
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SOLD
Commercial Free Standing, 14,208 SF, Three Story Building in desirable location in
West Palm Beach For Sale. |
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Price: $1,600,000
4740 SF of Retail Space on the ground floor,
7 one-bedroom apartments on the second floor and 7 one-bedroom apartments on the third floor.
Parking lots on both sides of the building, 11 on the south side and 4 on the north side. |
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Triumph Building built in 1925, completely renovated in 1989 by replacing all plumbing throughout, new bathroom fixtures, all electrical wiring, including individual electrical meters and circuit breakers for each unit. In addition telephone lines; TV cables were replaced, including new windows and doors. Special air condition system with central air for each unit and the commercial space on the ground floor. During the last Year the apartment units have been updated and redecorated, New carpets, new kitchen tiles installed, half of the central air units, refrigerators and water heaters replaced. All the units get new window screens and several units have been partially furnished.
Construction; concrete and hollow brick.
Roof; tar & gravel.
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| 14 Apartments: |
| 10 - 1 Bedroom | $650 per month | $78,000 |
| 4 - Studios | $550 per month | $26,400 | | 1 Retail Space | $6,320 per month | $75,840 |
| Less than 5% Vacancy Rate on Apartments | $5,220 |
| Annual PGI | | $175,020 |
| Est. Oper. Expense | | $38,000 |
| NOI | | $137,020 |
| Legal: El Cid PARK LOTS 10 & 11 BLK 2 AND LOTS 7 TO 9 BLK 2 |
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Comments:
Adjacent to desirable El Cid area, convenient to I-95 access and Palm Beach International Airport. Trendy neighborhood, minutes away from new Convention Center, Theaters, Kravis Center and fabulous City Place. |
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