940 W 36th Street 1, Riviera Beach, FL 33404
Riviera Beach, FL, 33404 · RAIN-BOW GARDENS
$419,000
2 ba · 1,680 sqft
About this home
**Terms:** Cash, Conventional, or Seller Financing. **Seller Financing Available:** 15% down payment, 6.5% interest rate, amortized over 30 years with a negotiable balloon payment. Additional terms may apply. **Offer Guidelines:** Large escrow deposit preferred. Financing contingency includes 20-day loan approval, appraisal completed within 14 days, and a 5-day inspection period. Well-maintained CBS duplex investment property featuring two 2-bedroom, 1-bath units with separate electric and water meters and four total parking spaces (two per unit). *see supplement remarks and mls documents* The property is fully leased with stable rental income: • Unit #1: $1,500/month (lease expires 1/1/2027) • Unit #2: $1,691/month (lease expires 11/1/2026) **Total Gross Rental Income:** $3,191/month ($38,292 annually). Security deposits are held by the landlord, and rent is due on the 1st of each month. Property features a 2019 roof, updated windows, and a brand-new central A/C system in Unit #1. Age of the A/C system in Unit #2 is unknown. The windows have been updated but are not impact-rated. Both units include washer/dryer hookups, assigned parking, and separate electric and water meters, helping minimize landlord utility expenses. Approximate annual expenses include insurance of $8,000 per year and lawn maintenance of approximately $500 per year. The property requires minimal exterior maintenance. **See attached documents in the listing for leases, income information, expense details, and additional property information.** This reads well for investors because it highlights the separate meters, low-maintenance nature of the property, and provides enough expense information to start evaluating cash flow.