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1 Tropical Dr Ocean Ridge, FL 33435

For Sale
$2,795,000

Multifamily property near the beach in Ocean Ridge, Florida.

Lot size:
0.30 Acres

Property Features for 1 Tropical Dr

General Information

Lot size
0.30 Acres

Building Details

Year built
1956

Source: Compass Florida LLC Agent Joshua McDonald

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Ocean Ridge Multifamily Investment

Located one block from the beach in Ocean Ridge, Florida, this multifamily property features eight units. The unit mix comprises three studios and five one-bedroom, one-bathroom apartments. Each unit has a separate electric meter. The property includes a shared coin laundry and a whole-building generator. Accordion shutters are installed throughout the building. The property is currently 100% occupied with annual leases. The property features patios, a swimming pool, and a barbecue area. Located in a prestigious and highly desirable area, this property is suitable for investors seeking a stable income property with appreciation potential. There is potential for redevelopment into luxury townhomes or condos. Ocean Ridge is known for its community feel and exclusivity.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Ocean Ridge
County
Palm Beach
State
Florida
Longitude
-80.053163
Latitude
26.5104439

FAQs

What type of property is this?
Apartment building - Multifamily property near the beach in Ocean Ridge, Florida.
Where is this apartment building located?
The property is located at 1 Tropical Dr Ocean Ridge, FL.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: - Prime location: One block from the beach in prestigious Ocean Ridge, Florida.; - Strong investment potential: 100% occupied with annual leases and potential for increased rents.; - Redevelopment opportunity: Potential to redevelop into luxury townhomes or condos.
More about this property
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