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Multifamily Properties West Palm Beach FL

$ 1,325,000
1601 AC Evans St,

Property Description

AC Evans 8 unit apartment complex is centrally located in Riviera Beach development area. The city of Riviera Beach is infusing mega capital in large infrastructure projects such as roads, sidewalks, lawn extensions, public transportation routes and much more creating upside to the area. Privet investment is penetrating the area with large projects such as the large commercial/ industrial retail flex project one block away from AC Evans. AC Evans is on a corner lot with great exposure. There are 2 buildings and each building is CBS with a total SF of 6,776. All units are individually metered for electric, water and sewer; thus, tenants pay all utilities. All units are renovated except for unit 2 and unit 5. Unit 5 is in the process of being renovated; moreover, the renovation is included in the deal. AC Evans is a smooth running investment as all tenants pay rent electronically or by check.

About Riviera Beach

Riviera Beach was originally called Oak Lawn; however, the settlement was renamed Riviera in 1893. Wasn’t until 1941, “Beach” was added. The Town of Riviera was incorporated in 1992 and in 1959 the Town status was converted to what is called today “City of Riviera Beach”. The city was named after the French Riviera.

Riviera Beach City has a total area of 9.8 square miles of which 8.3 square miles is land and 1.5 square miles is water. The eastern part includes most of Singer Island . “Multifamily Properties West Palm Beach FL”

Property Documents:

Property Details

  • Price: $ 1,325,000
  • Listing Id: LST-2028
  • 1601 AC Evans St
  • City:
  • Area:
  • County: Palm Beach
  • State: FL
  • Zip: 33404
  • Country: United States
  • Rooms: 24
  • Bedrooms: 16
  • Bathrooms: 8

Lot Size: .35 Acres

Roofing: Shinle

Cap Rate: 5.85%

Year Built: 1969

External Construction: CBS

Property Features


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