North Palm Bch 1 8 bedroom Single Family House For Sale
513 47th Street, West Palm Beach, FL 33407

$499,000
Sold
Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker

Details


  • MLS Number:R10929351
  • Virtual Tour: YES
  • List Price: $499,000
  • Sold Price: $499,000
  • Living Area: 2625 Ft² / 244 M²
  • Price Per Foot/Meter: $190 / $2,046
  • Bedrooms:8
  • Full Baths:5
  • Taxes:$7,238
  • Year Built:1942
  • Listing Date:October 20, 2023
  • Sold Date: December 8, 2023
  • Days On Market:48

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

Features


  • Floor:Other
  • Interior Feature:
  • Exterior Feature:

Location


Request Information
Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker