8690 Sunset Dr Palm Beach Gardens, FL 33410

Property Details for 8690 Sunset Dr

Year built

1973

Property type

Small apartment buildings

Description

This exceptional investment opportunity presents a three-unit apartment building located in Palm Beach Gardens, Florida, at 8690 Sunset Dr A, zip code 33410. Built in 1973, this single-story property boasts three units: one 2-bedroom, 1-bathroom unit, and two 2-bedroom, 2-bathroom units. The property generates substantial income with current leases in place. Unit #1 (2/1) commands a monthly rent of $1,750 with a lease expiring November 14, 2024. Unit #2 (3/2) rents for $2,300 per month, with the lease ending July 19, 2024. Unit #3 (2/1) brings in $1,800 monthly, and its lease expires December 14, 2024. This translates to a total monthly income of $5,850, resulting in a gross annual income of $70,200. Long-term tenants are currently in place, expressing interest in lease renewals. Significant improvements have been made, including a new roof installed in 2021 and a new septic drain field in June 2020. Recent updates also include fresh paint and kitchen and bathroom renovations. The property offers ample parking and each unit features separate electric and water meters. The property is being sold "as is" with the right to inspect.