Harlem Garden Apartments is a 126 unit, fully HAP assisted property sitting on 18 acres in Clewiston with no property taxes.
| Website: | https://www.nestseekers.com/5436154 |
|---|---|
| Address: | Clewiston, FL 33440 |
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Bathrooms: | 126 |
| Lot Size: | 18.1 Acres |
Financials
Price:$10,000,000
Description
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.
Amenities
- Cable - Available
- Closed Circuit Camera(S)
- Free Standing
- Landscaped
- Manager On Premises
- Meeting Room(s)
- Security Patrol
- Smoke Detectors
888 Biscayne Blvd # Unit CU9 Miami, FL 33132 Phone: +1 305-203-4555 Fax: +1 305-675-0745 | |
| Listing Courtesy of EXP Realty LLC | |
