215 N Federal Hwy - Apartments FOR SALE


Lake Worth, FL 33460- Mango Groves
$1,687,653 USD
561-789-7726
215 N Federal Hwy, Lake Worth, FL for Sale
$1,687,653 USD
Apartments - FOR SALE
1/65
null | 8.56% Cap Rate

215 N Federal Hwy
Lake Worth, FL 33460
Mango Groves


HIGHLIGHTS

  • The main house consists of 4 bedrooms and 1 bathroom, the rear building consists of three 2 bedrooms 1 bath apartments.
  • Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living.
  • zoning allows for a mix of commercial and residential uses, offering flexible investment opportunities and diverse revenue streams.
  • Located just minutes from downtown Lake Worth Beach.

OVERVIEW

Prime Location: Situated on North Federal Highway, this property benefits from high visibility and easy accessibility, attracting a steady flow of potential customers and tenants. The main house consists of 4 bedrooms and 1 bathroom, the rear building consists of three 2 bedrooms 1 bath apartments. Parking for the rear units accessible on the church parking lot. The main house has a private yard with deck and yard space. This investment is perfect for a buyer who would like to live in the main house and lease out the 3 apartments in a separate building at the rear of the property, or lease the units as an Airbnb or annual rentals. The NOI is based on Airbnb rental income with a 18% vacancy factor. • Proximity to Attractions: Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean, this property offers convenience and lifestyle appeal, attracting a steady flow of visitors, tourists, and potential tenants. • Investment Growth: Situated in a rapidly developing area with increasing property values, this investment promises strong appreciation potential, making it a smart choice for long-term returns and portfolio growth. LIST PRICE: $1,687,653 Highlights Beach Access: Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living and for businesses catering to tourists and beachgoers. Mixed-Use Potential: The property’s zoning allows for a mix of commercial and residential uses, offering flexible investment opportunities and diverse revenue streams.

FOR SALE DETAILS

PRICE

$1,687,653 USD

PRICE/SF

$398 USD /SF

# OF UNITS

10

PRICE/UNIT

$168,765

CAP RATE

8.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,499 SF

ZONING

MU-E

APN/PARCEL ID

38-43-44-21-15-044-0130

ASK ABOUT THIS PROPERTY

David JosephThe Keyes CompanyMore Info
561-789-7726

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David JosephThe Keyes CompanyMore Info
561-789-7726

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