1 Tropical Dr - Apartments FOR SALE


Ocean Ridge, FL 33435
$2,795,000 USD
561-633-6345
1 Tropical Dr, Ocean Ridge, FL for Sale
$2,795,000 USD
Apartments - FOR SALE
1/16
null | 4.46% Cap Rate

1 Tropical Dr
Ocean Ridge, FL 33435


HIGHLIGHTS

  • 1 block to the beach
  • 2 miles to I-95
  • Close proximity to restaurants, shopping, and parks.

OVERVIEW

Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida. 8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. 100% occupied, annual leases. Some rents are lower than market due to the lease length of time. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity.

FOR SALE DETAILS

PRICE

$2,795,000 USD

PRICE/SF

$653 USD /SF

# OF UNITS

8

PRICE/UNIT

$349,375

CAP RATE

4.46%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,201 SF

ZONING

RMM

APN/PARCEL ID

46-43-45-34-05-001-0190

ASK ABOUT THIS PROPERTY

Joshua McDoanldCompass Florida, LLC - Miami BeachMore Info
561-633-6345

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Joshua McDoanldCompass Florida, LLC - Miami BeachMore Info
561-633-6345

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.