Dwntwn J Street Apartments 501 N J Street, Lake Wrth FL 33460 Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Dwntwn J Street Apts Overview Cmprising 5 units mere blcks frm Lake Wrth s culture-rich dwntwn district, 501 N J Street s quiet lcatin and excellent curb appeal make it an attractive investment prspect fr the savvy Real Estate investr. Featuring 3 1 Bedrm units and 2 large 2 bedrms in an adjacent/attached 2 stry walkup style building, the unit mix is extremely marketable, making it easy t maintain 100% ccupancy cnsistently in this lcale. Featuring full CBS cnstructin, renvated interirs, heavily designed zer-maintenance landscaping, n-site laundry, impact glass n 2 stry building, and a hst f ther updates thrughut, the prperty presents an excellent, lw-maintenance investment prspect fr any multifamily wner lking fr grwth and stability ver the near and lng terms. Significant rental rate upside is there t be had as well, as rents are currently just belw market. Lake Wrth s multifamily sectr has demnstrated cntinued, steady grwth ver the preceding 10 years. During and fllwing the 2009 husing crisis, wners f affrdable Class B and C husing enjyed relative stability in rents and ccupancy levels, as ecnmic crises frequently drive nrmal Class A renters t affrdable husing where a wealth f sustainable demand already exists. Knwn by many as a cultural and artistic haven in Palm Beach Cunty and indeed all f Suth Flrida, Lake Wrth ffers rich culture and vibrance spanning all areas f the arts frm theater t fd. This has attracted a sphisticated, diverse, quality tenant base t the area n a cnsistent basis. The area is als rich in cmmerce and emplyment centers, and experiences steady ppulatin grwth year ver year. Data suggests a genuine husing shrtage in the area vs ppulatin, ensuring n shrtage f demand. With significant updates already cmplete, leaving little t n deferred maintenance, 501 N J Street als ffers excellent upside and grwth ptential thrugh management and small imprvements in the near term. Durable cnstructin and relatively easily updated interirs ensure marketability and flexibility as well, n matter what marketplace trends may be in the future. Never befre has quality, affrdable rental husing been in higher demand in the U.S., and Suth Flrida is perhaps the highest velcity affrdable husing market in the cuntry, ffering unbeatable value t tenants and landlrds alike. Accrding t a widely-quted, well-respected quarterly reprt last published in June 2017 by the University f Central Flrida s Institute fr Ecnmic Cmpetitiveness: Ecnmic and jb grwth in Flrida are frecasted t cntinue t utperfrm the U.S. labr market and mre Baby Bmers cntinue t reach the end f their wrking lives. This bdes well fr cntinued ppulatin grwth via the in-migratin f retirees and jb seekers t Flrida. The ppulatin f Flrida is als grwing naturally, as birth rates exceed death rates. In additin t these surces f dmestic ppulatin grwth, internatinal immigratin will als feed int the state s ppulatin grwth. With ppulatin grwth cmes increased demand fr affrdable, quality rental husing. Rbust CBS cnstructin ensures lng-term reliability and relative ease f maintenance ver the lng term. Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Dwntwn J Street Apts Highlights and Lcatin Map Palm Beach, Jupiter, Prt St. Lucie Asset Overview: Current Cap Rate: 6.25% Market Rents Cap Rate: 7.59% Price: $700,000 Address: 501 N J St, Lake Wrth FL 5 Units 3 1 BR 1 BA 2 2 BR 2 BA Dwntwn Lake Wrth US Hwy 1 501 N J Street Intracastal Waterway SR A1A Delray, Miami, FL Keys Intracastal Waterway Atlantic Ocean 100% Occupied! On-site, incme prducing laundry! Excellent value-add pprtunity via imprved exterir maintenance and management. Excellent fundamentals. Lw maintenance CBS cnstructin Desirable, central lcatin Excellent lng term grwth prspects Bike-friendly, walkable area! Just a few shrt blcks frm: Wrld famus Suth Flrida Beaches Vibrant Dwntwn Lake Wrth Shpping (4 blcks t Publix, Walgreens, lcal businesses dwntwn) Fully ccupied, stable, with belw market rents. All lng term tenants. Mix f windw-unit and central air cnditining units cst effective and energy efficient. Ideally lcated clse t: I-95 Dwntwn West Palm Beach Palm Beach Island Well dcumented financials, easily finance-able! Excellent capitalizatin rate with massive near and lng term rental rate upside. Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Dwntwn J Street Apts Aerial View Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Dwntwn J Street Apts Finance Current Cap Rate: 6.25% Market Cap Rate: 7.59% Market Cash-n Cash Return: 10.61% Offered at $700,000 Current Cash-n Cash Return: 15.97% Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm
Cntact Listing Agents Fr mre infrmatin r t schedule a prperty tur please d nt hesitate t cntact us at the numbers and/r email addresses belw: Martin Gldstein, Lic. Real Estate Brker Martin@TheGldsteinRealEstateGrup.cm 561-310-0935 Russell Gldstein Russell@TheGldsteinRealEstateGrup.cm 561-503-3648 Martin Gldstein Russell Gldstein The-Gldstein-Grup.cm