906 N L St
4 Unit Apartment Building $1,436,558 ($359,140/Unit) 7.71% Cap Rate Lake Worth Beach, FL 33460
INVESTMENT HIGHLIGHTS
- This four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land.
- Apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
- Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit.
- Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean.
EXECUTIVE SUMMARY
Prime Location: Situated on N L St., this property benefits from high visibility and easy accessibility, attracting a steady flow of potential long and short term tenants.
This four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land. Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit, apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
Beautifully landscaped with a fenced in yard.
• 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.
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 four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land. Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit, apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
Beautifully landscaped with a fenced in yard.
• 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.
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 |
$153,669
|
$60.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$153,669
|
$60.19
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$42,845
|
$16.78
|
| Net Operating Income |
$110,824
|
$43.41
|
PROPERTY FACTS
| Price | $1,436,558 |
| Price Per Unit | $359,140 |
| Sale Type | Investment |
| Cap Rate | 7.71% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,553 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1943/2022 |
| Parking Ratio | 1.57/1,000 SF |
SITE AMENITIES
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 2,553 |
1 of 1
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-284-0020 | Improvements Assessment | $428,613 |
| Land Assessment | $195,750 | Total Assessment | $624,363 |
ZONING
| Zoning Code | SF-TF-14 (SF-TF-14 (city) / Single Family Residential District) |
