731 5Th StLantana, FL 33462

Property Details for 731 5Th St

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional value-add multifamily investment opportunity consists of two duplexes located at 731 N 5th St, Lantana, FL 33462, in Palm Beach County. The property features a total of four units, with each duplex containing a two-bedroom, one-bathroom unit and a one-bedroom, one-bathroom unit. Currently operating at 75% occupancy, with month-to-month tenants, this presents a significant opportunity to increase rental income. One unit is currently vacant, simplifying showings. The asking price is $1,200,000, or $300,000 per unit. Both duplexes boast newer roofs and HVAC systems, minimizing immediate capital expenditure needs. The property sits on a sizable lot with a shared walkway and large backyard, ideal for tenant use or potential enhancements. The convenient location offers proximity to the beach, enhancing its appeal to renters. The permitted zoning is multifamily, allowing for flexibility in future development or renovations. This Class C property presents a strong value-add opportunity due to the month-to-month tenancy and potential for rental rate increases or conversion to short-term rentals. The current rent is $1700 per month. Ample parking is available, with two spaces per unit. This is a rare chance to acquire a well-located, multifamily property with significant upside potential in a desirable Florida market.

Location Insight

City

Lantana

County

Palm Beach

State

Florida

Latitude

26.5903

Longitude

-80.0553

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