1121 Bel Air Dr Highland Beach, FL 33487
- Residential income homes
- 8,021 SF
Current Use by Public Records
- Residential income homes
Property Details for 1121 Bel Air Dr
- Year built
- 1979
- Property size
- 8,021 SF
- Property type
- Residential income homes
- APN
- 24-43-47-04-02-001-0100
Description
Exceptional investment opportunity awaits in Highland Beach, Florida. This meticulously maintained Class A, four-unit multifamily property, built in 1979 and renovated in 2020, offers 8,041 square feet of net rentable space on a 9,300 square foot lot. The property features four townhomes, three with three bedrooms and 2.5 bathrooms, and one luxurious three-story unit boasting three bedrooms and 3.5 bathrooms, complete with a rooftop deck offering breathtaking ocean views. Each unit includes a fireplace and garage. Currently operating at 100% occupancy, the property generates a strong NOI of $258,792, with a projected NOI of $316,692 and a pro-forma cap rate of 5.86% for 2025. The asking price is $5,400,000, representing $1,350,000 per unit and $673.23 per square foot. Located at 1121 Bel Air Dr, Highland Beach, FL 33487 (APN: 24-43-47-04-02-001-0100), this property is zoned RML and includes eight parking spaces. Its prime location offers easy access to the beach and intercoastal waterways, making it ideal for owner-users, investors, boat owners, and beach enthusiasts. The property's versatility extends to short-term rental opportunities (AirBnB). Financial projections and details are available upon request. This is a rare opportunity to acquire a high-performing, luxury multifamily asset in a highly desirable coastal location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Highland Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0670035
- Latitude
- 26.396901
