- 135031
- Property ID
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.
Property Id: 135031
Price: $10,000,000
Property Lot Size: 18 ft2
AssociationAmenities: Security Patrol
ListingId: R11127667
LotSizeSquareFeet: 788436
StateOrProvince: FL
StreetName: Harlem Tenants
StreetNumber: 700
YearBuilt: 1978
Other Features
Electrical Utility Available
Has Cooling System
Has Heating System
Management On Site, Security Patrol
Smoke Alarm, Smoke Detector(s), Smoke Detector, Security Patrol, TV Camera, TV Monitor
