101 Lucerne Ave - Apartments FOR SALE


Lake Worth, FL 33460- Parrot Cove
$1,900,000 USD
954-573-4449
101 Lucerne Ave, Lake Worth, FL for Sale
$1,900,000 USD
Apartments - FOR SALE
1/36
null | 7.02% Cap Rate

101 Lucerne Ave
Lake Worth, FL 33460
Parrot Cove


HIGHLIGHTS

  • A+ Location With Great Walkability
  • Fully Furnished
  • Four Studios & One 2-Bed Cottage
  • Five Stars on Airbnb
  • Updated Interiors
  • Lush and Private Grounds

OVERVIEW

ONE Commercial Real Estate is pleased to present The Lucerne, five units currently operating as Extended stay/monthly rentals boasting Art Deco styling, located in the heart of downtown Lake Worth Beach, Florida. Four tastefully decorated studios are located in one two-story structure with a cozy lobby, and a spacious 2 bedroom 2 bath cottage that is located within a second detached structure with new roof. All units are complete with kitchen, bar area, and patio areas. A private courtyard with gazebo & garden between them provides a comfortable amenity for guests to relax. Both the lobby and exterior features exude the vibrant, unmistakable Art Deco architecture renowned for bold ornamentation and elegance. Bathrooms and kitchens have been updated and include durable vanities, cabinets, granite counter tops, in addition to other stylish features. The backyard and common areas have been meticulously landscaped, providing a fresh and clean environment for visitors to enjoy. The downtown Lake Worth Beach neighborhood has seen tremendous growth with its mix of cultural vibrance and favorable location. Guests are provided with bikes, beach chairs, towels and umbrellas to encourage accessing all the amenities offered by Lake Worth Beach Park. The short-term rental strategy positions itself to meet the growing demand for boutique accommodations within the submarket. With its prime location and Art Deco stylings, The Lucerne delivers a competitive product to the market capable of outperforming comparable options within the segment.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$580 USD /SF

# OF UNITS

5

PRICE/UNIT

$380,000

CAP RATE

7.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Lucerne

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

DT

APN/PARCEL ID

38-43-44-21-15-513-0050

ASK ABOUT THIS PROPERTY

Alexis ShapiroONE Commercial Real EstateMore Info
954-573-4449

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Alexis ShapiroONE Commercial Real EstateMore Info
954-573-4449

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.