About 220 Walton Boulevard
8-unit multifamily just minutes from the beach. 1 Fully updated corner unit with impact windows/doors, and central AC. 4 large 1/1s and 4 standard 1/1s. Current income: $150,600/year, NOI: $97,208, cap rate: 4.99%. Pro forma income: $209,040, NOI: $155,649, cap rate: 6.49%. 3 units vacant and Airbnb-ready; the other 5 are on annual leases. Huge upside by converting corner units to short-term rentals--conservatively projected at $30K/unit annually. Turnkey investment with strong cash flow and Airbnb potential.
Features of 220 Walton Boulevard
| MLS® # | RX-11084283 |
|---|---|
| Price | $2,100,000 |
| Square Footage | 4,540 |
| Acres | 0.23 |
| Year Built | 1950 |
| Type | Commercial |
| Sub-Type | Income |
| Style | Resident. Multi-Fam. |
| Status | Active |
Community Information
| Address | 220 Walton Boulevard |
|---|---|
| Area | 5440 |
| Subdivision | ESTATES OF SOUTH PALM BEACH ADD 1 |
| City | West Palm Beach |
| County | Palm Beach |
| State | FL |
| Zip Code | 33405 |
Amenities
| Utilities | 3-Phase Electric, Municipal Water |
|---|---|
| Is Waterfront | No |
Interior
| Appliances | Fixtures, Building Only |
|---|---|
| Heating | Central |
| Cooling | Central, Ceiling Fan, Electric |
| # of Stories | 1 |
Exterior
| Lot Description | ESTS OF SOUTH PALM B |
|---|---|
| Roof | Comp Shingle |
Additional Information
| Zoning | MF20(c |
|---|---|
| RE / Bank Owned | No |
Listing Details
| Office | Woyce Realty Investments & Consulting Inc. |
|---|