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$1,429,774

Beds
Unknown
sq ft
1,728

506 S M St, Lake Worth Beach, FL 33460

506 S M St

Lake Worth Beach, FL 33460

  • 50 days on market
PROPERTY HIGHLIGHTSThis exceptional multi-family portfolio in Lake Worth, Florida, comprises eight (8) strategically located buildings, offering a total of twenty-eight (28) units. Each property features unique architectural styles and modern amenities, ensuring a diverse and appealing selection for tenants. The portfolio includes a mix of unit sizes and configurations, catering to various tenant needs and maximizing rental potential. With a solid average cap rate of 8.26%, these properties promise a robust return on investment. Situated in a vibrant and growing community, this portfolio presents a rare opportunity to acquire income-generating assets in a highly desirable area.

Details

Property type

Est. home value

$636,439

Lot size

6,255 sq ft

Price per sq ft

$828

Year built

1925

Annual property taxes

$9,677

Price History

08/01/2024
Beaches

Beaches #R11009166

Listed
$1,429,774
+597.45%
08/22/2019
Beaches

Beaches #R10538185

Sold
$205,000

Schools & Community

Neighborhood: 

Downtown Jewel

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

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

Lender

Jay Mergler

Loan start date

March 2022

Original loan amount

$500,000

Est. remaining balance

Not provided

Interest rate

3.45%

Loan type

Seller take-back, 7 year

Seller

Taylored 4 Rental Llc

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?

Status: Active

Tomo last checked: 09/19/2024 at 9:00 PM

Listing updated: 08/27/2024 at 8:33 AM

Listed by: David Joseph, The Keyes Company Phone #: (561) 405-4960

MLS: Beaches #R11009166

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