1751 4 AveLake Worth Beach, FL 33460

Property Details for 1751 4 Ave

Year built

1948

Property size (Sq ft)

2,800 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a three-building, five-unit multifamily compound situated on a substantial 26,572 square foot lot in desirable Lake Worth Beach, Florida. The property consists of a single-family home with two bedrooms and two bathrooms, and two duplexes. One duplex features a two-bedroom, two-bathroom unit, while the other duplex offers three one-bedroom, one-bathroom units. The total square footage is 2,800, with 100% occupancy. Built between 1948 and 1958, the property is classified as Class C and offers a compelling 6.60% cap rate. The asking price is $1,128,000, translating to $225,600 per unit. The property boasts a strong financial performance, with an annual gross operating income of $107,400 and annual operating expenses of $32,916, resulting in a substantial annual net operating income of $74,484. The MF-20 zoning allows for potential expansion, making this a truly remarkable value-add investment. Located at 1751 and 1755 4th Ave N, Lake Worth Beach, FL 33460, this property is a rare find in the East Lake Worth Beach area and is expected to generate significant interest. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Lake Worth Beach

County

Palm Beach

State

Florida

Latitude

26.6205

Longitude

-80.0671

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