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    3723 Morton Ave West Palm Beach, FL 33405

    For Sale
    $1,400,000

    Six Cottages, Prime Location, High Occupancy

    Property size:
    3,696 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a six-cottage compound situated on a 0.46-acre lot in desirable West Palm Beach, Florida. The property, located at 3723 Morton Avenue, boasts a total of 3,696 square feet and is currently 100% occupied by tenants under annual leases, providing immediate and consistent cash flow. Built in 1922, the charming cottages offer a unique blend of historical character and income-generating potential. The property's multi-family zoning allows for diverse development options, capitalizing on the prime location. Its proximity to Dixie Highway, downtown West Palm Beach, the beach, I-95, and a vibrant array of shopping and dining establishments ensures high demand and strong rental rates. The 33405 zip code further underscores the desirability of this location. This is a rare chance to acquire a well-maintained, income-producing property with significant upside potential in a thriving Florida market. The substantial lot size offers flexibility for future expansion or redevelopment, making this an attractive proposition for both seasoned investors and those seeking a unique portfolio addition. The property's strong tenant occupancy and convenient location combine to create a compelling investment opportunity.

    Property Features for 3723 Morton Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    3,696 SF

    Building Details

    Year Built
    1922
    Units
    6

    HighLights

    • $1,400,000 asking price.
    • Special purpose property with 3,696 square feet.
    • Six units, 100% occupied with annual leases.
    • Located in West Palm Beach, FL, at 3723 Morton Avenue, zip code 33405.
    • Built in 1922.
    • Multi‑family zoning with potential for development on a 0.46‑acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0561009
    Latitude
    26.6776287

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    FAQs

    What type of property is this?
    Specialty property - Six Cottages, Prime Location, High Occupancy
    Where is this specialty property located?
    The property is located at 3723 Morton Ave West Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: $1,400,000 asking price.; Special purpose property with 3,696 square feet.; Six units, 100% occupied with annual leases.
    Request Owner's contact information
    3723 Morton Ave West Palm Beach, FL 33405
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    3723 Morton Ave West Palm Beach, FL 33405
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