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    Delray Beach Luxury Attached Homes Title is generated by Realmo AI

    1690-1692 S Ocean Boulevard, Delray Beach, FL 33483

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    For Sale
    $5,450,000

    MULTI_FAMILY - Delray Beach, FL

    Property size:
    4,943 SF
    Price / SF:
    $1,102/SF
    Added:
    May 31, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 1 at 4:06 pm

    Property Features for 1690-1692 S Ocean Boulevard

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-1-AA (
    Bedrooms
    6
    Rooms
    Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 6, Bedroom 4, Bathroom 7, Bathroom 5, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4
    Patio and Porch features
    Deck, Patio
    Pets allowed
    Yes, No
    Pool private
    1
    Exterior features
    Private Rooftop Terrace
    Fencing
    Fenced
    Standard status
    Active
    APN
    124346210000401
    Size
    4,943 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    21-46-43~ ELY 108.44 FT OF S 100 FT OF N 2240 FT OF GOV LT 4 LYG W OF SR A1A
    Tax Annual Amount
    39068

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public
    Water front features
    Ocean Access
    Water front
    1

    Building Details

    Year built
    1982
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood, Tile - Ceramic
    Building materials
    Stucco
    Roof type
    Tile, Barrel

    We can help!

    Listing Contact
    Mark C Barone

    Listing agent Mark C Barone License #3255921

    Listing office Compass Florida LLC 101 N Federal Hwy, 5th Floor, Miami Beach, FL

    Listing date May 31, 2026

    MLS# B26034867 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location: Steps from the beach and minutes from Atlantic Avenue's dining, shopping, and entertainment in desirable Delray Beach.
    • Strong income potential: Exceptional short‑term rental opportunity with potential seasonal income of $60,000+ per month.
    • Fully renovated from top to bottom with high‑end finishes and modern design.
    • Chef‑inspired kitchen features premium Thermador appliances and custom cabinetry.
    • Includes a private rooftop terrace.
    • Spa‑inspired bathrooms with exquisite luxury tile work and modern fixtures.

    Overview

    These attached homes offer coastal luxury and modern design, situated moments from the beach in a sought-after Delray Beach location. The properties are suitable as a luxury residence, vacation retreat, or income-producing investment with short-term rental potential. Located steps from the ocean and minutes from Atlantic Avenue's dining, shopping, and entertainment, these homes are desirable for seasonal and vacation renters. The properties have been fully renovated, with wood flooring, custom cabinetry, and solid wood doors. The kitchens feature Thermador appliances. Wood-paneled accent walls add warmth and upscale coastal elegance. Additional upgrades include a new AC system, custom designer lighting, wallpaper accents, and spa-inspired bathrooms with luxury tile work. These beachside homes offer a sophisticated beachside lifestyle, a second home, or an investment opportunity with rental income potential. The property is located in Delray Beach, Palm Beach County, Florida, with a total size of 4943 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.062568
    Latitude
    26.441055

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    FAQs

    What type of property is this?
    Short term rental property - Renovated homes near the beach with income potential.
    Where is this short term rental property located?
    The property is located at 1690-1692 S Ocean Boulevard Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $5,450,000.
    What are key features of this property?
    This property features: Prime location: Steps from the beach and minutes from Atlantic Avenue's dining, shopping, and entertainment in desirable Delray Beach.; Strong income potential: Exceptional short‑term rental opportunity with potential seasonal income of $60,000+ per month.; Fully renovated from top to bottom with high‑end finishes and modern design.
    (561) 235-6801
    We can help!
    Listing Contact
    Mark C Barone
    Real Estate License ID: 3255921
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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