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    417 6Th St Belle Glade, FL 33430

    Sponsored
    For Sale
    $2,495,000

    45-unit multifamily value-add opportunity

    Property size:
    15,230 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional multifamily investment opportunity presents a 45-unit apartment building located at 417 SW 6th St, Belle Glade, FL 33430, in Palm Beach County. The property, built in 1957, comprises five buildings totaling 15,230 square feet on a 20,542 square foot lot, zoned B-2. Currently boasting 94% occupancy, the property generates a Net Operating Income (NOI) of $213,557, resulting in an 8.56% capitalization rate. Pro forma projections indicate a potential NOI of $225,000 and a 9.02% cap rate. The asking price is $2,495,000, translating to $55,444.44 per unit. The unit mix includes 19 one-bedroom/one-bathroom units and 24 efficiency units, along with two commercial units. This value-add opportunity offers significant potential for increased profitability through strategic improvements and lease adjustments. The property's strong current performance, combined with its upside potential, makes it an attractive investment in the growing Belle Glade market. Financial projections show a potential for 3% annual NOI growth, leading to substantial long-term returns. This is a rare chance to acquire a well-located, income-producing multifamily asset with considerable upside.

    Property Features for 417 6Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,230 SF
    Class
    B

    Building Details

    Year Built
    1957
    Buildings
    5
    Units
    45

    HighLights

    • $2,495,000 Asking Price
    • $213,557 Net Operating Income (NOI)
    • 8.56% Cap Rate
    • 9.02% Pro‑Forma Cap Rate
    • 94% Occupancy Rate
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belle Glade
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.673900198241
    Latitude
    26.6825248348

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    FAQs

    What type of property is this?
    Multifamily property - 45-unit multifamily value-add opportunity
    Where is this multifamily property located?
    The property is located at 417 6Th St Belle Glade, FL.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: $2,495,000 Asking Price; $213,557 Net Operating Income (NOI); 8.56% Cap Rate
    Request Owner's contact information
    417 6Th St Belle Glade, FL 33430
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    Belle Glade, FL 33430
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    417 6Th St Belle Glade, FL 33430
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