FL > Canal Point
Canal Point, FL 33438,37280 Okeechobee Ave #32
$3,700,000
Est. payment /mo
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20,812 SqFt
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37280 Okeechobee Ave #32 Canal Point, FL 33438

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Anthony Guerriero

Anthony Guerriero

+1(646) 376-8752

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 20,812 sqft

Price per Sqft $177

MLS Listing ID A11863544

HOA Y/N No

Year Built 1960

Annual Tax Amount $24,515

Lot Size 1.592 Acres

Property Sub-Type Multi Family

Property Description

Canal Point Apartments presents a rare value-add investment with immediate cash flow and strong upside. The community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. The remaining 16 units require renovations to unlock premium rents and drive the ARV to $6.5M. A single-family home on site is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. With stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply.

Location

State FL

County Palm Beach

Area 5002

Exterior

Private Pool Yes

Others

Tax ID 00374133030140010

Acceptable Financing Cash, Conventional, Owner May Carry, Other

Listing Terms Cash, Conventional, Owner May Carry, Other

Miami Association of Realtors (SEFMIAMI MLS)
Listed by Comlux Properties

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agent

Anthony Guerriero

Broker

+1(646) 376-8752

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37280 Okeechobee Ave #32

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