632 W 7th St - Apartments FOR SALE


Riviera Beach, FL 33404
$1,925,000 USD
954-501-5020
632 W 7th St, Riviera Beach, FL for Sale
$1,925,000 USD
Apartments - FOR SALE
1/8
null | 6.78% Cap Rate

632 W 7th St
Riviera Beach, FL 33404


HIGHLIGHTS

  • Concrete Block Construction With New Roof, Hurricane Shutters and Impact Doors Throughout
  • Predominately Section 8 Tenants
  • Located Between 45th St and Blue Heron Boulevard, Offering Easy Access to I-95 in Both Directions
  • Less Than 2 Miles From The Port Of Palm Beach

OVERVIEW

Marcus & Millichap, as exclusive listing agents, are pleased to present Inlet City Apartments, a 10-unit multifamily property in the heart of Riviera Beach, Florida. Built in 1959, this concrete block construction property spans 4,056 square feet and is situated on a 0.44-acre lot and consists entirely of one-bedroom, one-bathroom units, offering a simple and efficient unit mix in a prime location. Located at 632 W 7th St, Inlet City Apartments enjoys proximity to key local and regional amenities. The Port of Palm Beach, approximately 2 miles away, serves as a major economic driver, providing ample employment opportunities. The property is also near Riviera Beach Marina Village, less than 2 miles away, which offers vibrant dining and recreational options, including waterfront activities. Residents will appreciate being only 2 miles from beautiful beaches, providing convenient access to South Florida’s iconic coastal lifestyle. Additionally, the property is located near several schools, grocery stores, and public transit options, making it highly desirable and convenient for tenants. Inlet City Apartments presents an excellent value-add opportunity for investors seeking a stable, income-generating asset in a growing market. Its concrete block construction ensures durability, while the simple unit mix and strong rental demand in Riviera Beach promise steady cash flow. With potential for rent increases and property appreciation, Inlet City Apartments is an attractive addition to any multifamily portfolio.

FOR SALE DETAILS

PRICE

$1,925,000 USD

PRICE/SF

$475 USD /SF

# OF UNITS

10

PRICE/UNIT

$192,500

CAP RATE

6.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Inlet City Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

RM-15, Riviera Beach

APN/PARCEL ID

56-43-42-32-01-037-0220

ASK ABOUT THIS PROPERTY

Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

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

Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

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