Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1967
Sq.Footage
2,390
Value-Add Opportunity in the Delray Beach Marina District! Huge income upside and room for future development, currently fully leased and updated. Statement marble floors top line finishes fully furnished just STEPS from all the shopping and dining on Atlantic Avenue and the BEST beaches in SOFLO. PLEASE do not disturb tenants: Fully-occupied property of two studio units and two 2 bed 1bath units, all equipped with modern kitchens and bathrooms and each unit has a new stackable W/D, a private, secure pet friendly fenced yard. Marina slip rental adjacent to put your yacht. NO rental restrictions. Income figures based on rentals at present time. Sold furnished. Freshly painted exterior, new fence, all new landscaping. Perfect for vacation rentals, ABNB or Owner to live work play in Del Property is located in the Marina historic district. Many properties on same block have been fully redeveloped into modern two story town-homes and houses; however, Seller and Seller's agent and broker make no representations regarding the ability to redevelopment or improve the Property. The Property is a short walk to the beach and the entertainment district on Atlantic Avenue. Property has been completely remodeled and is fully leased. This is a must see location. Cap Rate is currently 3.69%. Just a small increase in rental income could put this Cap Rate in the mid to high 5% range for long term rentals, or even higher with short term rentals.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Heating YN
YES
-
Heating
Central
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Block
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Features
Corner Lot
-
Lot Size(acres)
0.2
-
Property Type
Residential Income
-
Property Sub Type
Quadruplex
Price
-
Sales Price
$4,500,000
-
Tax Amount
$14,292.1
-
Sq. Footage
2, 390
-
Price/SqFt
$1,882
HOA
-
Association
No
School District
-
Elementary School
Pine Grove
-
Middle School
Carver Community
-
High School
Atlantic
Property Features
-
Association Amenities
None
-
Senior Community YN
NO
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Palm Beach
Elementary School
Pine Grove
Middle School
Carver Community
High School
Atlantic
Listing Courtesy of Paul Edward Daurio , Inactive Member
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