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$429,000

Beds
2
Baths
2.0
sq ft
1,316

501 Lake Shore Dr Unit 505, West Palm Beach, FL 33403

501 Lake Shore Dr Unit 505

Lake Park, FL 33403

  • 66 days on market
    • Price drop $20,000↓
Rare opportunity to own an intracoastal waterfront condo with fully-funded reserves and no pending assessments. The 40 year reserve study has been completed including required repairs. This 2-bed, 2-bath condo offers upgrades such as AC(2019), hot water heater(2021), electrical panel with surge protector (2024), interior impact sliders(2017) three new impact windows(2023) and updated master bathroom(2023). Enjoy a spacious, private, screened and enclosed balcony with stunning views. This building presents a gated entrance, charming pool area with BBQ and putting green. This condo is close proximity to waterfront parks and recreation. Minutes to PBI airport and North Palm Beach Country Club.Exterior of building will begin being painted. Renderings to come. Check out the property video!

Details

Property type

Condominium

Est. home value

$365,955

Lot size

Unknown

Price per sq ft

$326

Year built

1970

Annual property taxes

$2,371

Monthly HOA fee

$627

Price History

01/23/2025
Beaches

Beaches #R11038115

Price change
$429,000
-4.45%
11/18/2024
Beaches

Beaches #R11038115

Listed
$449,000
+147.38%
04/19/2017
Beaches

Beaches #R10302798

Sold
$181,500

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Pool, Gated, Street Lights

Senior community center: 

Yes

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$320,454
Asking price
$429,000
Closing costs (~8% of asking)
-$34,320
Est. remaining loan balance
-$74,226
Cash to seller
$320,454

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Group One Mortgage Inc

Loan start date

April 2017

Original loan amount

$136,125

Est. remaining balance

$74,226

Interest rate

3.32%

Loan type

New Conventional, 15 year

Seller

Michael Burnick and Stanley Pyall

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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801 Lake Shore Dr Unit 802, West Palm Beach, FL 33403

Status: Active

Tomo last checked: 01/23/2025 at 9:40 AM

Listing updated: 01/23/2025 at 8:25 AM

Listed by: Shannon Zahn, Blue View Real Estate Phone #: (561) 785-2991

MLS: Beaches #R11038115

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