HOMES BY DARCI
Southern Key Realty
526 NW 12th Avenue Boynton Beach FL
Address
526 Nw 12th Avenue, Boynton Beach, FL
Price
$ 1,350,000
Property Attributes
- MLS#B26031568
- TypeSingle Family
- Listing Status Pending
- CountyPalm Beach
- CityBoynton Beach
- Area4330
- Zip
- Style
- Year Built1958
- Taxes$ 11411
- Price$ 1,350,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3500
- Lot Size0.23 Acres
Data Source:
Beaches MLS (FL)
Property Description
Well-maintained, turnkey 8-unit apartment building in the heart of Boynton Beach. Seven of eight 1BR/1BA units are currently leased at $1,500/month under the HUD-Veterans Affairs Supportive Housing (HUD-VASH) program, which is a federal rental assistance programs that provide government-guaranteed monthly rent payments directly from the housing authority, virtually eliminating collection risk and delivering recession-resistant income. All units have been recently upgraded and the property has historically maintained 100% occupancy. There is a significant value-add opportunity - current contract rents of $1,500/month are well below the 2026 HUD Fair Market Rent of $2,080 for a 1-bedroom unit in this zip code, representing a gap of $580/unit/month. As housing authority rent adjustments are approved, a new owner has the potential to capture up to $55,680 in additional annual income across all eight units without any capital investment. At stabilized occupancy and current rents, the property generates $144,000 in gross annual income with a Net Operating Income of $94,589 under owner management (34.3% expense ratio, no professional management fee included). The property is not specifically designated as a HUD or low-income property and may be operated under full market-rate rents and conditions at the owner's will. The property has been comprehensively renovated since 2018, including a full new roof, completely remodeled unit interiors, updated electrical and plumbing systems, new flooring, and new appliances (refrigerator, stove, and A/C) in every unit, and full exterior painting in 2026. The building presents in well-maintained condition with minimal deferred maintenance and no near-term capital expenditure required, offering a true turnkey investment generating cash flow from closing. Prime southern Palm Beach County location in one of the highest-demand corridors for workforce and affordable housing. Boynton Beach is among the fastest-growing cities in the county with strong population growth projected through 2030. The Boynton Beach Community Redevelopment Agency is actively promoting area growth and has recently purchased large redevelopment parcels in close proximity to the subject property, signaling continued public investment in the surrounding neighborhood. Supply of workforce housing remains critically limited, with zero new 1-2 Star apartment units under construction or proposed anywhere in the submarket through 2030, and vacancy has tightened to just 5.2%, well below the 10-year average.
| Price History | |
|---|---|
| 5/21/2026 | Listed $1,350,000 |
General Features
| Sewer | PublicSewer |
|---|---|
| Heating | Central,Individual |
| Cooling | CentralAir,WallWindowUnits |
| Utilities | ElectricityConnected,SewerConnected,WaterConnected |
| Possession | CloseOfEscrow |
| Roof | Flat |
| Security Features | CarbonMonoxideDetectors,SmokeDetectors |
| Construction Materials | Block,Stucco |
| Year Built | 1958 |
| Property Subtype | MultiFamily |
| Tax Year | 2025 |
| Accessibility | AccessibilityFeatures |
| County | Palm Beach |
| New Construction | false |
| Property Type | CommercialSale |
| Contingency | Inspection |
| Status | Pending |
| City | Boynton Beach |
| Number Of Units Total | 8 |
| MLS Area | 4330 |
| Tax Annual Amount | 11411.19 |
| Property Condition | Resale |
| Virtual Tour | https://www.propertypanorama.com/526-NW-12th-Avenue-Boynton-Beach-FL/unbranded |
| Standard Status | Pending |
| Ownership Type | SoleProprietor |
| Property Sub Type Additional | MultiFamily |
| PostalCity | Boynton Beach |
| Legal Description | CHERRY HILLS LTS 384 TO 387 INC |
Interior Features
| Flooring | Tile,Wood |
|---|---|
| Total Stories | 2 |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking | 12 |
| Lot Size Area | 10180 |
| Number of Buildings | 1 |
| Building Area Total | 3500 |
| Lot Size Acres | 0.23 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
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