Price Reduced 13.51%

$3,200,000

Est. Mortgage $15,555/mo *

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Price History

$3,700,000
8/23/2025

$3,200,000
9/5/2025

37280 Okeechobee Ave, #32, Canal Point, FL, 33438

37280 Okeechobee Ave, #32, Canal Point, FL, 33438
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1960

Canal Point Apartments presents a rare value-add investment with immediate cash flow and strong upside. The community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. The remaining 16 units require renovations to unlock premium rents and drive the ARV to $6.5M. Another single-family home is located near site and is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. With stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply.

Status:

Active

Type:

Commercial

Units:

32

Zoning:

RH

Est. Taxes:

$24,515

Days on Market:

26

Lease Term Type:

36 Months

MLS #:

A11863544

Community Info

School Info

Walk Score

Yelp

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Listing courtesy of Comlux Properties 786-565-7333