Modern Living Group
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$1,495,000ACTIVE

1000 W LAKEWOOD Road, West Palm Beach, FL 33405

beds0baths5,026sq ft$297/ sq ft
THE RESIDENCE

About this home

Excellent opportunity to acquire Lakewood Flats, a 7-unit multifamily property located at 1000 W Lakewood Road in West Palm Beach. The property consists of 4 buildings totaling 5,026 gross square feet on a 0.31-acre lot. Built between 1926 and 1940, the property features wood-frame construction, pitched composite shingle roofs, and central air conditioning. The desirable unit mix consists of four 2-bedroom/1-bathroom units, one 2-bedroom/2-bathroom unit, and two 3-bedroom/1-bathroom units, providing larger floorplans that appeal to a broad tenant base. Conveniently located near Southern Boulevard, Dixie Highway, and I-95, with easy access to Downtown West Palm Beach, Palm Beach Island, Palm Beach International Airport, Palm Beach Atlantic University, and major employment centers. Lakewood Flats offers investors a boutique, low-density multifamily asset with a strong unit mix in the growing West Palm Beach rental market.

THE DETAILS

Property details

List Price$1,495,000
Price / Unit$373,750
Units4
Cap Rate5.76%
Gross Income$159,000/yr
Net Operating Income$86,179
Inside Sq Ft5,026
Year Built1926
ConstructionFrame
FlooringLaminate
ZoningSF7 (city)
Property TypeQuadruplex
MLS #B26071849
StatusActive
Original List Price$1,495,000
GRM9.4
Tenant PaysCable TV, Electricity, Sewer, Water
Stories2
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Lot Size0.31 acres
WaterfrontNo
Days on Market0
Annual Taxes$19,641
CityWest Palm Beach
Zip Code33405
LOCATION

Where you'll live

Shane Beckford
FEATURED AGENT
Shane Beckford
Real Estate Specialist

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