1302 12th Ave S
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1302 12th Ave S
8 Unit Apartment Building $1,900,000 ($237,500/Unit) Lake Worth, FL 33460
Investment Highlights
- 1302 12th Avenue S is a fully occupied two-story, eight-unit property providing prospective investors peace of mind and excellent profitability.
- Positioned between West Palm Beach and Boca Raton, Lake Worth is a vibrant community boasting accessibility to the area's renowned beaches.
- Meticulously renovated in 2022, tenants and owners can enjoy a refreshed, vibrant exterior and upgraded electric, water heaters, and plumbing.
- Minutes to critical roadways like Interstate 95 and US Highway 1, 1302 12th Avenue S manifests a long-standing prime investment in South Florida.
Executive Summary
Welcome to 1302 12th Avenue S in Lake Worth. This meticulously renovated two-story, eight-unit multifamily property epitomizes stability and profitability to prospective investors. Initially built in 1960, this fully occupied property underwent extensive permitted renovations in 2022, including an exterior paint job, a sleek address plaque, updated electricity, modern lighting fixtures outside each unit, new water heaters, and efficient plumbing.
Inside 1302 12th Avenue S, each unit has been thoughtfully upgraded with new interior paint, modern plank flooring, stainless steel appliances, upgraded kitchen and restroom countertops, shaker cabinets, and contemporary bathtub tiling. These upgrades provide tenants with a comfortable and stylish living experience and a turnkey investment boasting limited maintenance requirements. Tenants also enjoy the property's off-street parking, which provides maximum accessibility and convenience.
Nestled between West Palm Beach and Boca Raton, Lake Worth is renowned as the gateway to the tropics, thanks to its welcoming atmosphere, historic charm, vibrant downtown, and unique residential neighborhoods. Investors have a rare opportunity to seize a piece of South Florida's coastal landscape, with quick access to Interstate 95, US Highway 1, Federal Highway, and Palm Beach International Airport (PBI), ensuring convenient commuting and travel options for tenants. Take advantage of this rare chance to invest in a property that embodies the essence of South Florida living.
Inside 1302 12th Avenue S, each unit has been thoughtfully upgraded with new interior paint, modern plank flooring, stainless steel appliances, upgraded kitchen and restroom countertops, shaker cabinets, and contemporary bathtub tiling. These upgrades provide tenants with a comfortable and stylish living experience and a turnkey investment boasting limited maintenance requirements. Tenants also enjoy the property's off-street parking, which provides maximum accessibility and convenience.
Nestled between West Palm Beach and Boca Raton, Lake Worth is renowned as the gateway to the tropics, thanks to its welcoming atmosphere, historic charm, vibrant downtown, and unique residential neighborhoods. Investors have a rare opportunity to seize a piece of South Florida's coastal landscape, with quick access to Interstate 95, US Highway 1, Federal Highway, and Palm Beach International Airport (PBI), ensuring convenient commuting and travel options for tenants. Take advantage of this rare chance to invest in a property that embodies the essence of South Florida living.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,900,000 | Lot Size | 0.19 AC |
| Price Per Unit | $237,500 | Building Size | 5,000 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $1,900,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2022 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
Site Amenities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
PROPERTY TAXES
| Parcel Number | 38-43-44-28-59-001-0000 | Improvements Assessment | $300,267 |
| Land Assessment | $126,948 | Total Assessment | $427,215 |
PROPERTY TAXES
Parcel Number
38-43-44-28-59-001-0000
Land Assessment
$126,948
Improvements Assessment
$300,267
Total Assessment
$427,215
zoning
| Zoning Code | RS3 (Residential/Multifamily) |
| RS3 (Residential/Multifamily) |
-
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1302 12th Ave S
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