501 N J Street, Lake Worth Beach, FL 33460

1952

YEAR BUILT

$1,150,000

LISTING PRICE

MultiFamily (5+ Units)

TYPE

MLS#: RX-10978172

Type of Building: Resident. Multi-Fam.


For More Information Call:

561-283-4663

Welcome to ''Downtown Five''. 5 Fully Renovated, Well Maintained, Easily Managed Apartment Homes Ideally Located 2 Blocks to Publix Supermarket, 3 Blocks to Downtown Lake Worth Beach, Shopping, Restaurants, Entertainment, Nightlife & Less Than One Mile to LW Beach & Fishing Pier. Situated within a Quiet Family Friendly Neighborhood in One of The Fastest Growing Cities in South Florida!!! All Units Have Been Beautifully Renovated: New Kitchens, Flooring, Baths, Electrical, Plumbing, & Paint. Lushly Landscaped Grounds! Coin Laundry Room Generates Extra Income. (Current Rents are 15-20% Under Market Value). Convert to Air BNB / Vacation Rental & Maximize ROI. A Perfect 1031. Plenty of Room to Add Pool / Hot Tub to Increase Value & Income!!! *Please DO NOT walk property or disturb tenants*


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This listing is courtesy of JSM Realty Services, Inc.. Real Estate and Luxury homes in Boca Raton, Delray Beach, Deerfield Beach, Juno Beach, 0 Lake Worth, Palm Beach Gardens, West Palm Beach and surrounding areas in Palm Beach County and South Florida. Property Listing Data contained within this site is the property of Brevard MLS and is provided for consumers looking to purchase real estate. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.

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  • Acres0.15 acres
  • Available DocumentsAerial
  • Available InformationCopies of Lease and Photos
  • Building Info: Miles to Beach1 miles
  • Building Info: Miles to Expressway1 miles
  • Building Info: Number of Tenants5
  • Built DescriptionResale
  • CityLake Worth Beach
  • ConstructionCBS
  • CoolingCentral, Electric and Wall-Win A/C
  • CountyPalm Beach
  • DirectionsOn 5th Ave N., Just E. of US1.
  • Expenses: Common Area Maintenance$6,000
  • Expenses: Insurance$11,471
  • Expenses: Maintenance & Repair$2,821
  • Expenses: R.E. Taxes$16,736
  • Expenses: Utilities$3,263
  • Fire ProtectionSmoke Detector
  • FlooringCeramic Tile and Vinyl Floor
  • For LeaseNo
  • For SaleYes
  • HeatingCentral, Electric and Window/Wall
  • LeaseAnnual and Month to Month
  • Legal DescriptionTOWN OF LAKE WORTH LTS 31 & 32 BLK 150
  • List Price$1,150,000
  • List Price/SqFt$345.14 / sqft
  • Listing DateMonday, April 15th, 2024
  • Listing IDRX-10978172
  • Listing Price$1,150,000
  • Listing StatusActive
  • Maintenance Fee IncludedExterior Electric, Lawn Care, Maintenance-Exterior and Trash Removal
  • Miscellaneous 1Laundry
  • Miscellaneous 2Outside Storage and Room Pool
  • Monetary Info: Gross Operating Income$92,820
  • Monetary Info: Net Operating Income$46,944
  • Monetary Info: Source of ExpensesOwner
  • Monetary Info: Total Expenses$45,876
  • Monetary Info: Vacancy Rate$5
  • Multiple Offers AcceptedNo
  • Number of Stories2
  • Number of Toilets5
  • Percent Air Conditioned100%
  • PossessionAt Closing and Funding
  • Property DescriptionMulti-Family
  • Property TypeCommercial
  • Real Estate Taxes$16,736.80
  • RoofComp Shingle
  • Sale IncludesBuilding and Land, Equipment and Fixtures
  • SecurityTV Camera
  • Special InformationPresently Leased
  • SqFt SourceTax Rolls
  • State/ProvinceFL
  • StatusActive
  • Status Change DateMonday, April 15th, 2024
  • Street NameJ
  • SubdivisionLake Worth Town Of
  • Tax Year2023
  • Tenant PaysCable and Electric
  • Terms ConsideredCash, Conventional and Exchange
  • Total Building SqFt3,332 sqft
  • Total Units in Building5
  • TypeMultiFamily (5+ Units)
  • Type of BuildingResident. Multi-Fam.
  • Unit 1: Annual Rent$21,600
  • Unit 1: Full Baths1
  • Unit 1: Unit Description2 Bedroom
  • Unit 2: Annual Rent$24,000
  • Unit 2: Full Baths1
  • Unit 2: Unit Description2 Bedroom
  • Unit 3: Annual Rent$15,540
  • Unit 3: Full Baths1
  • Unit 3: Unit Description1 Bedroom
  • Unit 4: Annual Rent$15,540
  • Unit 4: Full Baths1
  • Unit 4: Unit Description1 Bedroom
  • Unit 5: Annual Rent$14,340
  • Unit 5: Full Baths1
  • Unit 5: Unit Description1 Bedroom
  • UtilitiesCable, Electric, Public Water and Separate Meter
  • Virtual TourYes
  • WaterfrontNo
  • Year Built1952
  • Zip Code33460
  • ZoningSF-TF-

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