215 S Federal Hwy

Two separate buildings on opposite sides of the nearly 7000 sq ft lot with plenty of parking between. Listing may include virtually enhanced photos. Zoning MU-E MIXED USE EAST (38-LAKE WORTH BEACH) (see Documents) makes it even more versatile.. Front is a big 3 bed 1 bath historic, updated to Period with a fireplace & other charming features. Back is concrete 2 bed, 1.5 baths, with 2 inch thick granite countertops, completely remodeled. Lake Worth Beach has its own power generation and RO water treatment plant; you can drink out of the taps. Currently at an annual GRI of $49,680.00 (annual leases; could easily be more than tripled for short term Rentals. 3 blocks from the Intracoastal Waterway and bridge to the beach!
PROPERTY SUMMARY:
LOCATION: Lake Worth Beach is a 7 sq mile vertical rectangle on the Intracoastal Waterway (at it's widest!). 215 S Federal is just 3 blocks to downtown, 3 blocks to Bryant Park (on the Waterway), Public Boat Ramp, Historic Amphitheater, and bridge to the beach and Municipal Golf; you can leave the car at home.
LOT: .16 acres (6960 sq ft) approximately 1,350 sq ft paved parking lot between the buildings
BUILDINGS: Large 3 bedroom, 1 bath 1926 Historic home with high ceilings, restored to Period look kitchen with all the modern conveniences. Huge great room with original fireplace. Back unit was built of concrete in 1956 with 2 bedrooms, 1.5 baths, beautiful kitchen updated with thick granite countertops, and spacious rooms. Central AC in both units, washer dryers, ranges, refrigerators and plenty of closet space.
UTILITIES: Separate electric meters; Front building has natural gas. The Electric and Water Utilities are produced in Lake Worth Beach (decentralized from the larger grid and FPL) making recovery from unpredictable events more manageable. The water is Reverse Osmosis Filtered, so you can drink from the taps and no bad hair days.
ZONING MU-E—MIXED USE EAST (38-LAKE WORTH BEACH) Mixed use Zoning makes the property suitable for a wide variety of business, office, commercial, hotel/motel, and medium-density multiple-family residential uses:
"1.Principal nonresidential uses permitted by right in all subareas of district.
A.Commercial - low intensity.
B.Office - low intensity.
C.Retail - low intensity.
D.Personal services - low intensity.
E.Cultural and artisanal arts - low intensity.
F.Institutional - low intensity.
G.Community residences....
F. Essential services."
More options available as per muni code. See Documents for full description.
INCOME: Currently operating with a GRI just under $50,000 annually, with potential to triple (or more) with daily rentals.The advantage of two separate buildings is incalculable, as they can operate independent of one another with plenty of parking. No need for a vehicle, however, as the amenities are all within short blocks, and services for delivery and drivers are plentiful. Lake Worth Beach has become THE destination for travelers and relocators from all over the world, and there is no better location for housing, business and redevelopment than Federal Highway between 2nd and 3rd Avenues S, where 215 is located.