37280 Okeechobee Ave # 32, Canal Point FL 33438

For sale Days on market 26

$3,200,000

$500,000
Price Decreased

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Overview

Year Built

1960

69354 sqft
Property Type

Income/MultiFamily

Property 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 Details

MLS#

A11863544

Address

37280 Okeechobee Ave

City

Canal Point

State/county

FL

Zip/Postal Code

33438

Area

Country

United States

HOA

No

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$24,515

Maint Fee

$--

Tax Year

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Boris Gelfand
+1 305-9221287

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+1 305-9221287
info@gelfandrealty.com
800 SE 4th Ave suite 809B Hallandale Beach, FL 33009 United States
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