$15,995,000
3770 County Line RoadTequesta, FL 33469
MLS# RX-10867914
Status: Closed
48 baths

1 / 6
Property Description
RARE opportunity to own a sixteen (16) unit multifamily complex in the heart of Tequesta, FL. Built in 2017, Bella Villaggio consists of sixteen separately deeded townhouses featuring three separate buildings (A, B, and C). Buildings A and B (10 total units) feature 4BR, 3BA units with approximately 2,200 Living SF each. Building C (6 units) features 3 BR, 2.5BA units with approximately 1,700 Living SF each. Every unit has Hurricane Impact windows & doors, natural gas, a roof top deck, two car garage, and a metal roof (50+ year life). The community also features a community pool and is located less than two miles from the ocean and is just north of the Jupiter Inlet. Bella Villaggio currently has nine annual leases in place with seven units being operated as vacation rentals.
Details
Maps
Documents
Contract Information
Status: Closed
Original List Price: 15995000
Auction: No
List Price: $15,995,000
Current Price: $15,000,000
Listing Date: 2023-02-21
General Property Description
Type: MultiFamily (5+ Units)
For Sale: Yes
For Lease: No
Property Desc: 16 UNIT MULTIFAMILY
Subdivision: BELLA VILLAGGIO CONDO
Year Built: 2017
Built Desc: Resale
SqFt Source: Developer
# of Stories: 3
Total Units: 16
Baths - Total: 48
Acres: 1.54
% Air Conditioned: 100
Location Tax Legal
Area: 5060
County: Palm Beach
Parcel ID: 60434030600010000
Street #: 3770
Street Name: County Line
Street Suffix: Road
Zip Code: 33469
Legal Desc: BELLA VILLAGGIO TR A K/A ALL OF PLAT
Geo Lat: 26.969987
Geo Lon: -80.089258
Status Change Info
Under Contract Date: 2023-07-12
Sold Date: 2023-11-10
Sold Price: 15000000
Terms of Sale: Conventional
Property Features
Use: Income; Other
Type of Building: Commercial; Income; Other
Construction: CBS
Sale Includes: Building and Land; Fixtures
Avail Docs: Aerial; Survey
Avail Info: By-Laws & Docs; Existing Survey; Full Financials
Flooring: Tile; Vinyl Floor
Cooling: Central; Electric
Heating: Central; Electric
Fire Protect: Smoke Detector; Sprinkler
Tenant Pays: Cable; Electric; Water
Utilities: Public Sewer; Public Water
Roof: Metal
Terms Considered: Cash; Conventional
Lease: Annual; Subject to Lease
Possession: Funding
Contingencies: None
Supplements
Tequesta has no restrictions against vacation rentals so this property provides investors the opportunity to continue utilizing ABNB & VRBO or can be easily converted to 100% long term leases. Each unit in the complex is separately deeded as a condo, which provides the ability to liquidate a portion of the units while still controlling the condo association. Tequesta, FL is located in Northern Palm Beach County and has a population of approximately 35,700 within a three mile radius of the subject property as of 2022 with a median household income of $90,000+. Tequesta, FL is one town north of Jupiter, FL which is home to some of the world's most famous golfers and PGA pros whom reside in affluent communities such as The Bear's Club, Admiral's Cove, Frenchman's Creek, Frenchman's Reserve, PGA National, and more. Full financials available upon request.
Listing Office: Coldwell Banker Hometown Real Estate
Last Updated: February - 07 - 2024

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