4400 SW 23rd St - Apartments FOR SALE


West Park, FL 33023
$695,000 USD
561-866-6399
4400 SW 23rd St, West Park, FL for Sale
$695,000 USD
Apartments - FOR SALE
1/9
null | 10.17% Cap Rate

4400 SW 23rd St
West Park, FL 33023


OVERVIEW

Property Overview: Excellent opportunity to acquire a turnkey multifamily/shared housing property in the Carver Ranches subdivision, offering strong in-place income and long-term operational flexibility. The property is currently operating as a 12-room dwelling, fully up to city standards and 100% occupied. Each room rents for approximately $750 per month, and rents have not been increased in over three years, providing significant upside potential for investors. Property Details: Property Type: Multifamily / Shared Housing (ALF or Halfway House potential) Building Size: 2,400 sq. ft. Lot Size: 0.1906 acres / 8,304 sq. ft. Year Built / Renovated: Built 1957 | Fully remodeled in 2019 Capital Upgrades: New roof (2024) and all electrical panels updated Safety Compliance: All exit signs and fire extinguishers are in place, and the building includes four total exits, meeting safety and occupancy standards Zoning: R-1C Land Use / Code: Multifamily 2–9 Units (Use Code 08) Key Highlights: Operating as Shared Housing: Currently functioning as a 12-room income-producing dwelling that meets city requirements for shared housing or transitional living. Turnkey Condition: Fully compliant, structurally sound, and ready for continued use as a Halfway House, ALF, or shared housing facility. Stable Income: All rooms are 100% occupied, generating consistent income with rents at $750/month per room (utilities included). Utilities Included: Water, electricity, sewer, trash removal, and cable — simplifying operations and maximizing tenant satisfaction. Recent Upgrades: Complete remodel in 2019, new roof (2024), and upgraded electrical systems reduce near-term CapEx. Prime Location: Located within the Carver Ranches subdivision, offering convenient access to shopping, schools, and public transportation. Summary: This turnkey, code-compliant 12-room dwelling offers stable income, minimal maintenance, and excellent adaptability for Halfway House or Assisted Living Facility (ALF) use. With a new roof, full safety compliance, and proven operational performance, it represents a strong investment opportunity for both experienced operators and new investors seeking reliable cash flow and value-add potential.

FOR SALE DETAILS

PRICE

$695,000 USD

PRICE/SF

$290 USD /SF

# OF UNITS

12

PRICE/UNIT

$57,917

CAP RATE

10.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,165 SF

ZONING

R-1C

APN/PARCEL ID

51-42-19-01-2550

ASK ABOUT THIS PROPERTY

Jason SouwedPalm Beach Property Buyers LLCMore Info
561-866-6399

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Jason SouwedPalm Beach Property Buyers LLCMore Info
561-866-6399

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