Property
| Ownership: | Commercial |
|---|---|
| Type: | Multi-Family |
| Area: | 5940 sq ft |
FinancialsPrice:$10,000,000
Price:$10,000,000
Listing Courtesy of EXP Realty LLC
DescriptionHarlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
Harlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
Harlem Garden Apartments is a 126 unit, fully HAP assisted property sitting on 18 acres in Clewiston with no property taxes.
DescriptionHarlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
Harlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
Unbranded Virtual Tour: https://www.propertypanorama.com/700-Harlem-Tenants-Circle-Clewiston-FL-33440/unbranded
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
