Lake Worth Beach Portfolio | 402 Ocean Breeze
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Lake Worth Beach Portfolio 402 Ocean Breeze
5 Unit Apartment Building $2,219,516 ($443,903/Unit) 8.28% Cap Rate Lake Worth Beach, FL 33460
Investment Highlights
- This incredible property and opportunity to own a main house and five additional multi family units.
- Efficiency apartment, apartment 1 is two bedrooms and 1 bath, apartment 2, is two bedrooms and 1 bath.
- The main house consists of three bedrooms and 2 baths.
- apartment 3 is a studio with 1 bath and apartment 4 is a studio with 1 bath.
Executive Summary
402 S. Ocean Breeze
This incredible property and opportunity to own a main house and five additional multi family units. There are three buildings that are all on one deed that make up this property. The main house consists of three bedrooms and 2 baths. Efficiency apartment, apartment 1 is two bedrooms and 1 bath, apartment 2, is two bedrooms and 1 bath, apartment 3 is a studio with 1 bath and apartment 4 is a studio with 1 bath.
Prime Location: Situated on S Ocean Breeze, this property benefits from high visibility and easy accessibility, attracting a steady flow of potential of 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: $2,219,516
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 and diverse revenue streams.
This incredible property and opportunity to own a main house and five additional multi family units. There are three buildings that are all on one deed that make up this property. The main house consists of three bedrooms and 2 baths. Efficiency apartment, apartment 1 is two bedrooms and 1 bath, apartment 2, is two bedrooms and 1 bath, apartment 3 is a studio with 1 bath and apartment 4 is a studio with 1 bath.
Prime Location: Situated on S Ocean Breeze, this property benefits from high visibility and easy accessibility, attracting a steady flow of potential of 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: $2,219,516
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 and diverse revenue streams.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$251,099
|
$75.36
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$251,099
|
$75.36
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$67,273
|
$20.19
|
| Net Operating Income |
$183,826
|
$55.17
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $251,099 |
| Annual Per SF | $75.36 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $251,099 |
| Annual Per SF | $75.36 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $67,273 |
| Annual Per SF | $20.19 |
| Net Operating Income | |
|---|---|
| Annual | $183,826 |
| Annual Per SF | $55.17 |
Property Facts
| Price | $2,219,516 | Apartment Style | Low Rise |
| Price Per Unit | $443,903 | Building Class | C |
| Sale Type | Investment | Building Size | 3,332 SF |
| Cap Rate | 8.28% | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1941/2020 |
| Property Type | Multifamily | Parking Ratio | 1.2/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,219,516 |
| Price Per Unit | $443,903 |
| Sale Type | Investment |
| Cap Rate | 8.28% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 3,332 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1941/2020 |
| Parking Ratio | 1.2/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | - | - |
| 2+1 | 2 | - | - |
| 2+1 | 3 | - | - |
| Studios | 4 | - | - |
| Studios | 5 | - | - |
| Studios | 6 | - | - |
1 of 1
Walk Score ®
Very Walkable (70)
Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-163-0060 | Improvements Assessment | $396,312 |
| Land Assessment | $285,423 | Total Assessment | $681,735 |
PROPERTY TAXES
Parcel Number
38-43-44-21-15-163-0060
Land Assessment
$285,423
Improvements Assessment
$396,312
Total Assessment
$681,735
zoning
| Zoning Code | MF-20 (MF-20 (city) / Multi-Family Residential (High Density) District) |
| MF-20 (MF-20 (city) / Multi-Family Residential (High Density) District) |
1 of 60
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Lake Worth Beach Portfolio | 402 Ocean Breeze
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.