506 S M St
4 Unit Apartment Building $1,429,774 ($357,444/Unit) 8.45% Cap Rate Lake Worth Beach, FL 33460
INVESTMENT HIGHLIGHTS
- This two story building, is located on the quiet M. Street, located in Lake Worth Beach.
- Apartment 2 is a two bedroom 1 bath unit.
- The property consists of four apartments, apartment 1 is a one bedroom and 1 bath unit.
- Apartment 3 & 4 are studio apartments with 1 bath each.
EXECUTIVE SUMMARY
506 S. M Street.
This two story building, is located on the quiet M. Street, located in Lake Worth Beach. The property consists of four apartments, apartment 1 is a one bedroom and 1 bath unit, apartment 2 is a two bedroom 1 bath unit, apartment 3 is a studio apartment with 1 bath and another studio with 1 bath.
Prime Location: Situated on S M St., this property benefits from high visibility and easy accessibility, attracting a steady flow 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: $1,429,774
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 two story building, is located on the quiet M. Street, located in Lake Worth Beach. The property consists of four apartments, apartment 1 is a one bedroom and 1 bath unit, apartment 2 is a two bedroom 1 bath unit, apartment 3 is a studio apartment with 1 bath and another studio with 1 bath.
Prime Location: Situated on S M St., this property benefits from high visibility and easy accessibility, attracting a steady flow 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: $1,429,774
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 |
$155,343
|
$78.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$155,343
|
$78.46
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$34,554
|
$17.45
|
| Net Operating Income |
$120,789
|
$61.00
|
PROPERTY FACTS
| Price | $1,429,774 |
| Price Per Unit | $357,444 |
| Sale Type | Investment |
| Cap Rate | 8.45% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 1,980 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2021 |
| Parking Ratio | 2.02/1,000 SF |
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 500 |
| 2+1 | 2 | - | - |
| Studios | 3 | - | - |
| Studios | 4 | - | - |
1 of 1
Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (94)
ZONING
| Zoning Code | SFR (SF-R (city) / Single Family Residential District) |
