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CBD ZONED DOWNTOWN DELRAY MULTIFAMILY 126 NE 4th Ave

2 Unit Apartment Building $2,499,000 ($1,249,500/Unit) 4.08% Cap Rate Delray Beach, FL 33483

Investment Highlights

  • Located one block north of Atlantic Avenue and just east of the train tracks
  • Zoning allows for development up to four (4) stories and max height of 54'
  • Zoned CBD (Core Central Business District)
  • Permitted uses include general retail, medical, office, multifamily, hotels/motels, parking garage, etc.

Executive Summary

PRICED TO SELL! Recently renovated two unit property now available in the heart of coveted Downtown Delray Beach just one block north of Atlantic Avenue. This key west style property features two cottages that were both recently renovated zoned CBD Core (Central Business District). The main cottage features 2BD, 2BA with a spacious floor plan boasting nearly 1,300 Living SF. The back cottage also features 2BD, 2BA and approximately 800 Living SF. This unique multifamily property has CBD Core zoning (Central Business District), which allows for numerous different uses including retail space, offices, multifamily, single family, hotels, motels, public parking, and many more. See attached documents for full list of permitted uses. This property sits on a 9,000 SF lot and the CBD Zoning allows for development of up to 4 Stories and Maximum height of 54 Feet. Zoning code and survey available in attachments. Property is currently being operated as a vacation rental and is grossing approximately $20,000/month.
This property is just steps from Atlantic Avenue and features a private fully fenced backyard with a pergola, jacuzzi, and plenty of green space. This property can be sold fully furnished and is the ideal vacation rental being located just seconds from everything that Delray has to offer, including F45, Johnnie Browns, El Camino, Park Tavern, Throw Social, Pinball Museum, Deck 84, as well as A1A and Delray's public beaches.

Data Room Click Here to Access

Property Facts

Price $2,499,000
Price Per Unit $1,249,500
Sale Type Investment
Cap Rate 4.08%
Sale Conditions Redevelopment Project
No. Units 2
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Multifamily Dormitory
Building Class C
Lot Size 0.21 AC
Building Size 2,023 SF
No. Stories 1
Year Built/Renovated 1937/2023
Parking Ratio 3.95/1,000 SF

Unit Amenities

  • Air Conditioning
  • Washer/Dryer
  • Ceiling Fans
  • Kitchen
  • Yard
  • Patio

Site Amenities

  • 24 Hour Access
  • Fenced Lot
Walk Score ®
Very Walkable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
12-43-46-16-01-091-0060
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,223,214

zoning

Zoning Code CBD Zoning (CENTRAL CORE BUSINESS DISTRICT (CBD - DELRAY BEACH))
CBD Zoning (CENTRAL CORE BUSINESS DISTRICT (CBD - DELRAY BEACH))
  • Listing ID: 30822408

  • Date on Market: 1/30/2024

  • Last Updated:

  • Address: 126 NE 4th Ave, Delray Beach, FL 33483

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