Bought with Beaches MLS
$499,000
$499,000
For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
5 Baths
2,625 SqFt
SOLD DATE : 12/08/2023
Key Details
Sold Price $499,000
Property Type Single Family Home
Sub Type Single Family Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,625 sqft
Price per Sqft $190
Subdivision North Palm Bch 1
MLS Listing ID RX-10929351
Sold Date 12/08/23
Style Dup/Tri/Row,Multi-Level
Bedrooms 8
Full Baths 5
Construction Status Resale
HOA Y/N No
Year Built 1942
Annual Tax Amount $7,238
Tax Year 2022
Lot Size 5,256 Sqft
Property Description
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700Unit #2 650 SF 2/1 $1,700Unit #3 650 SF 2/1 $1,700Unit #4 275 SF Studio $1,200Unit #5 400 SF 1/1 $1,400
Location
State FL
County Palm Beach
Area 5420
Zoning SF7(ci
Rooms
Other Rooms Cottage, Laundry-Inside
Master Bath Mstr Bdrm - Ground
Interior
Interior Features Entry Lvl Lvng Area
Heating No Heat
Cooling None
Flooring Other
Furnishings Unfurnished
Exterior
Parking Features 2+ Spaces, Driveway
Community Features Handyman, Sold As-Is
Utilities Available Electric, Public Sewer, Public Water
Amenities Available None
Waterfront Description None
Present Use Handyman,Sold As-Is
Exposure South
Private Pool No
Building
Lot Description < 1/4 Acre, East of US-1
Story 2.00
Foundation Frame
Construction Status Resale
Others
Pets Allowed Yes
Senior Community No Hopa
Restrictions None
Acceptable Financing Cash, Conventional
Horse Property No
Membership Fee Required No
Listing Terms Cash, Conventional
Financing Cash,Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "