700 Harlem Tenants Circle, Clewiston, FL 33440
sale
$10,000,000
|
Other
Courtesy Of Exp Realty LLC
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.
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Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Building Units: 126
- Cooling System: Central Air
- Floor Covering: Vinyl
- Floors: 1
- Heating System: Central
- Legal Description: BEG 1460 FT S + 460 FT
- MLSID: RX-11127667
- Roof Type: Other
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