Latona Court Apartments
Closed714 Latona Ave, Lake Worth, FL 33460
Property type
Multifamily
Unit / Space count
9
Price
$925,000
Building size
4,150 sf
Rentable area
4,150 SF
Year built
1960
Year renovated
Occupancy
100%
APN
38-43-44-34-02-000-0180
Zoning code
Lot size
0.20 Acres
Unit mix
4x
1br
5x
2br
Bedroom count
Price per Unit
$102,778
Price per SF
$222.89
Property description
Latona Court Apartments Is A 9-Unit Multifamily Investment Opportunity Located At 714 Latona Avenue In The South Palm Park Submarket of Lantana And Greater Lake Worth. The Subject Property Was Built In 1960 And Totals 8,700 SF On 0.2 Acres Of Land. The Investment Consists Of (4) One Bedroom, One Bathroom And (5) Two Bedroom, One Bathroom Units Totaling Approximately 4,150 SF. Unit Amenities Include A Central Location With High Walkability, Renovated Interiors, Central A/C Units, Updated Plumbing And Ample Parking For Tenants And Their Guests. Latona Court Apartments Offers An Investor The Opportunity To Purchase A Stabilized Asset With Upside. Based on Comps in the Area, a New Owner Can Achieve Rental Increases of 9.65% On The One-Bedroom, One Bath Apartments & 22.27% Two-Bedroom, One Bath Apartments.
Property highlights
- Well-Maintained Value Add Property With Rental Upside
- Seller Realized 411% Appreciation In Value Since Acquisition In 2012
- Closed Within 2.1% Of List Price
- All Tours (Except for Offer Accepted) Handled Virtually To Not Disturb Tenants
- Competitive Deal - 6 Competitive Offers & LOI’s Submitted
- Franklin Street Insurance Provided Policy For Buyer