314 S Federal Hwy
4 Unit Apartment Building $1,559,498 ($389,875/Unit) 8.57% Cap Rate Lake Worth Beach, FL 33460
INVESTMENT HIGHLIGHTS
- This first class four unit multifamily property is in pristine condition.
- Apartment 1, one bedroom and 1 bath, apartment 2, one bedroom and 1 bath.
- The private yard is a sanctuary of calmness to relax and enjoy the day. This property is a true turn key.
- Apartment 3, one bedroom and 1 bath and apartment 4, one bedroom and 1 bath.
EXECUTIVE SUMMARY
314 S. Federal Highway
This first class four unit multifamily property is in pristine condition and consists of Apartment 1, one bedroom and 1 bath, apartment 2, one bedroom and 1 bath, apartment 3, one bedroom and 1 bath and apartment 4, one bedroom and 1 bath. The private yard is a sanctuary of calmness to relax and enjoy the day. This property is a true turn key.
Prime Location: Situated on S Federal Hwy, this property benefits from high visibility and easy accessibility, attracting a steady flow of potential short and long term tenants.
• 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: $1,559,498
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.
This first class four unit multifamily property is in pristine condition and consists of Apartment 1, one bedroom and 1 bath, apartment 2, one bedroom and 1 bath, apartment 3, one bedroom and 1 bath and apartment 4, one bedroom and 1 bath. The private yard is a sanctuary of calmness to relax and enjoy the day. This property is a true turn key.
Prime Location: Situated on S Federal Hwy, this property benefits from high visibility and easy accessibility, attracting a steady flow of potential short and long term tenants.
• 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: $1,559,498
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.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$170,880
|
$74.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$170,880
|
$74.91
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$37,177
|
$16.30
|
| Net Operating Income |
$133,703
|
$58.62
|
PROPERTY FACTS
| Price | $1,559,498 |
| Price Per Unit | $389,875 |
| Sale Type | Investment |
| Cap Rate | 8.57% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 2,281 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1928/2019 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 700 |
| 1+1 | 2 | - | - |
| 1+1 | 3 | - | - |
| 1+1 | 4 | - | - |
1 of 1
Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-107-0041 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $282,982 |
ZONING
| Zoning Code | MU-FH (MU-FH (city) / Mixed Use Planned Development District) |
