526 NW 12th AVE, Boynton Beach, FL
526 NW 12th AVE, Boynton Beach, FL
526 NW 12th AVE, Boynton Beach, FL
26
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$1,350,000
Est. payment /mo
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3,500 SqFt
Pending

526 NW 12th AVE Boynton Beach, FL

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Casey Heatherly

Casey Heatherly

+1(561) 450-9111

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 3,500 sqft

Price per Sqft $385

MLS Listing ID B26031568

Construction Status Resale

HOA Y/N No

Year Built 1958

Annual Tax Amount $11,411

Tax Year 2025

Contingent Inspection

Lot Size 10,018 Sqft

Acres 0.23

Property Sub-Type Multi Family

Property Description

Well-maintained, turnkey 8-unit apartment building in the heart of Boynton Beach. Seven of eight 1BR/1BA units are currently leased at $1,500/month under the HUD-Veterans Affairs Supportive Housing (HUD-VASH) program, which is a federal rental assistance programs that provide government-guaranteed monthly rent payments directly from the housing authority, virtually eliminating collection risk and delivering recession-resistant income. All units have been recently upgraded and the property has historically maintained 100% occupancy. There is a significant value-add opportunity - current contract rents of $1,500/month are well below the 2026 HUD Fair Market Rent of $2,080 for a 1-bedroom unit in this zip code, representing a gap of $580/unit/month. As housing authority rent adjustments are approved, a new owner has the potential to capture up to $55,680 in additional annual income across all eight units without any capital investment. At stabilized occupancy and current rents, the property generates $144,000 in gross annual income with a Net Operating Income of $94,589 under owner management (34.3% expense ratio, no professional management fee included). The property is not specifically designated as a HUD or low-income property and may be operated under full market-rate rents and conditions at the owner's will. The property has been comprehensively renovated since 2018, including a full new roof, completely remodeled unit interiors, updated electrical and plumbing systems, new flooring, and new appliances (refrigerator, stove, and A/C) in every unit, and full exterior painting in 2026. The building presents in well-maintained condition with minimal deferred maintenance and no near-term capital expenditure required, offering a true turnkey investment generating cash flow from closing. Prime southern Palm Beach County location in one of the highest-demand corridors for workforce and affordable housing. Boynton Beach is among the fastest-growing cities in the county with strong population growth projected through 2030. The Boynton Beach Community Redevelopment Agency is actively promoting area growth and has recently purchased large redevelopment parcels in close proximity to the subject property, signaling continued public investment in the surrounding neighborhood. Supply of workforce housing remains critically limited, with zero new 1-2 Star apartment units under construction or proposed anywhere in the submarket through 2030, and vacancy has tightened to just 5.2%, well below the 10-year average.

Location

State FL

County Palm Beach

Area 4330

Zoning R2 (city)

Interior

Interior Features InteriorFeatures

Heating Central, Individual

Cooling Central Air, Wall/Window Unit(s)

Flooring Tile, Wood

Fireplace No

Exterior

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Water Access Desc Public

Roof Type Flat

Accessibility Accessibility Features

Total Parking Spaces 12

Building

Story 2

Sewer Public Sewer

Water Public

Structure Type Block,Stucco

New Construction No

Construction Status Resale

Others

Tax ID 08434521140003840

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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BeachesMLS, Inc. (FLR) IDX
Listed by Brad Kuskin Compass Florida LLC
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Casey Heatherly

Casey Heatherly

Broker Associate | License ID: 276520035

+1(561) 450-9111

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526 NW 12th AVE