Bought with Beaches MLS
$499,000
$499,000
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513 47th ST West Palm Beach, FL 33407
8 Beds
5 Baths
2,625 SqFt
Key Details
Sold Price $499,000
Property Type Single Family Home
Sub Type Single Family Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,625 sqft
Price per Sqft $190
Subdivision North Palm Bch 1
MLS Listing ID RX-10929351
Style Dup/Tri/Row,Multi-Level
Bedrooms 8
Full Baths 5
Year Built 1942
Annual Tax Amount $7,238
Tax Year 2022
Lot Size 5,256 Sqft
Property Description
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700Unit #2 650 SF 2/1 $1,700Unit #3 650 SF 2/1 $1,700Unit #4 275 SF Studio $1,200Unit #5 400 SF 1/1 $1,400
Location
State FL
County Palm Beach
Area 5420
Zoning SF7(ci
Rooms
Other Rooms Cottage, Laundry-Inside
Interior
Heating No Heat
Cooling None
Flooring Other
Exterior
Garage 2+ Spaces, Driveway
Community Features Handyman, Sold As-Is
Utilities Available Electric, Public Sewer, Public Water
Amenities Available None
Waterfront No
Waterfront Description None
Exposure South
Building
Lot Description < 1/4 Acre, East of US-1
Story 2.00
Foundation Frame
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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