733 Dr Martin Luther King Jr Blvd W - Apartments FOR SALE


Belle Glade, FL 33430
$2,490,000 USD
561-866-6399
733 Dr Martin Luther King Jr Blvd W, Belle Glade, FL for Sale
$2,490,000 USD
Apartments - FOR SALE
1/36
null | 8.66% Cap Rate

733 Dr Martin Luther King Jr Blvd W
Belle Glade, FL 33430


OVERVIEW

Property Overview Type & Structure Multifamily residential building, designed as a low-rise apartment complex with 30 units spread across 3 stories. Crexi +10 LoopNet +10 LoopNet +10 Constructed in 1959 and underwent renovations as recently as 2020. LoopNet +5 ForRent.com +5 Trulia Real Estate Search +5 Classified as Building Class C, located on a 0.17-acre lot (around 7,200–7,209 sq ft) with a built area of approximately 14,550 sq ft. Movoto Real Estate +5 LoopNet +5 LoopNet +5 Zoned R-3 Multi-Family Residential with a parking ratio of 0.41 spaces per 1,000 sq ft. ApartmentFinder.com +5 LoopNet +5 LoopNet +5 Interior & Amenities Units include 1-bedroom/1-bath (19 units) and 2-bedroom/1-bath (11 units) layouts. Crexi +9 LoopNet +9 LoopNet +9 All units equipped with air conditioning. LoopNet Apartments.com Occupancy & Assessment Average occupancy stands at around 80%. LoopNet +1 According to LoopNet, the total assessed value of the property (improvements plus land) is $636,639. Crexi +4 LoopNet +4 LoopNet +4 Market Status As of early 2025, the property was listed for sale on platforms like LoopNet, though the listing has since expired or it's currently off-market—you may need to contact the listing broker for availability. LoopNet +1 Apartment listing platforms like Apartments.com and ForRent confirm the building is active but currently has no available units and does not allow pets. Apartments.com ForRent.com Additional Perspectives on the Property Some real estate platforms present a different perspective, treating the building as a single-family property: Zillow lists the property as a single-family home with 6,630 sq ft of interior space (on a 7,230 sq ft lot), offering a Zestimate of ~$896,100 and an estimated rent of $3,015/month. Zillow +1 Trulia echoes similar stats—a studio-style single-family home, built in 1959, sold on February 11, 2022 for around $1.61 million, with a current estimate around $896,100. Trulia Real Estate Search +1 Movoto estimates its value at $3.27 million, calculated on a built area of 14,550 sq ft, translating to about $7/sq ft, and notes the property is not for sale or rent. Movoto Real Estate +1 These differing perspectives may stem from variations in data sources or how the building’s units are categorized. Summary Table Feature Details Type Multifamily apartments (30 units) Built / Renovated 1959 / 2020 Structure 3-story, Class C, low-rise Building Size ~14,550 sq ft Lot Size ~0.17 acre (7.2k sq ft) Unit Mix 19 × 1BR/1BA, 11 × 2BR/1BA Occupancy Level ~80% Amenities Air conditioning Parking 0.41 spaces per 1,000 sq ft Assessed Value ~$636,639 Market Status Off-market, historically listed for sale Alternate Listings Zillow/Trulia treat it as single-family; mixed value estimates In conclusion, 733 Dr Martin Luther King Jr Blvd W is primarily a mid-century multifamily property with a history of residential use via apartments. However, some platforms also classify it as a large single-family residence, contributing to a range of valuation estimates.

FOR SALE DETAILS

PRICE

$2,490,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

30

PRICE/UNIT

$83,000

CAP RATE

8.66%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-3

APN/PARCEL ID

04-37-43-31-01-030-1020

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.