Two-Unit Residential Income
610 SE 2nd Avenue Delray Beach, FL 33483
610 SE 2nd Avenue, Delray Beach, FL, 33483
$1,100,000
For Sale
$1,100,000
Two fully renovated residences with in-unit laundry are currently rented, with a roof replacement completed in 2021.
Property Size1,900 SF
Price / SF$578.95
Days on Market15
Property Features for 610 SE 2nd Avenue
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1985
Listing agency
Lang Realty/Delray Beach
(703) 999-4214
Listed by
Noreen Payne · License #R11165434
(703) 999-4214
Source
Lehmannflorida
Added: Jul 9 Updated: Jul 21 at 11:23PM Checked: Jul 23 at 5:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lang Realty/Delray Beach
Investment Insights
Based on property information with market context.
This residential income property is currently configured as two separate, fully renovated units. One unit offers three bedrooms and two bathrooms, and the second unit offers three bedrooms and one bathroom. Both residences include in-unit laundry and are currently rented, providing immediate income at the property level. The roof was replaced in 2021.
The property is located at 610 SE 2nd Avenue in Delray Beach, with an adjacent vacant lot also available for purchase to support an assemblage approach.
As offered, the building provides a straightforward two-unit setup designed to support ongoing rental occupancy while leaving flexibility for future plans.
The property is located at 610 SE 2nd Avenue in Delray Beach, with an adjacent vacant lot also available for purchase to support an assemblage approach.
As offered, the building provides a straightforward two-unit setup designed to support ongoing rental occupancy while leaving flexibility for future plans.
Key Highlights
- Year built 1985 single property configured as two separate residences
- 3‑bedroom, 2‑bath unit and 3‑bedroom, 1‑bath unit, both currently rented
- Both residences include in‑unit laundry
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.9k | $25.20 |
| − Vacancy | −$2.6k | −$1.39 |
| EGI | $45.2k | $23.81 |
| − OpEx | −$13.6k | −$7.14 |
| NOI | $31.7k | $16.67 |
1,900 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,221 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,666 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully renovated residences with in-unit laundry are currently rented, with a roof replacement completed in 2021.
Where is this duplex located?
The property is located at 610 SE 2nd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Year built 1985 single property configured as two separate residences; 3‑bedroom, 2‑bath unit and 3‑bedroom, 1‑bath unit, both currently rented; Both residences include in‑unit laundry
