37280 OKEECHOBEE AVE #32, Canal Point
$3,200,000 USD
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| Address | 37280 OKEECHOBEE AVE #32, Canal Point |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Price | $3,200,000 |
| Previous Price | $3,700,000 (9 days ago) |
| Property Status | Active |
| MLS Number | A11863544 |
| Property Size | 69354 |
| Lot Size | 69354 |
| Year Built | 1960 |
| Folio Number | 00374133030140010 |
| Zoning Information | RH |
| Days on Market | 35 |
Detailed Description: Canal Point Apartments presents a rare value-add investment with immediate cash flow and strong upside. The community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. The remaining 16 units require renovations to unlock premium rents and drive the ARV to $6.5M. Another single-family home is located near site and is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. With stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply.
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Address Information
| State | Florida |
| City | Canal Point |
| County | Palm Beach County |
| Zip Code | 33438 |
| Address | 37280 OKEECHOBEE AVE |
| Section | 33 |
| Zip Code (4 Digits) | 5019 |
Financial Information
| Price | $3,200,000 |
| Price per Foot | $0 |
| Previous Price | $3,700,000 |
| Folio Number | 00374133030140010 |
| Tax Amount | $24,515 |
Full Descriptions
| Detailed Description | Canal Point Apartments presents a rare value-add investment with immediate cash flow and strong upside. The community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. The remaining 16 units require renovations to unlock premium rents and drive the ARV to $6.5M. Another single-family home is located near site and is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. With stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply. |
Property parameters
| Living Area | 69354 |
| Lot Size | 69354 |
| Total Acreage | 0.000 |
| Zoning Information | RH |
| Maximum Leasable Size | 69354 |
| Year Built | 1960 |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Listed with | Comlux Properties |