902 J St Lake Worth Beach, FL 33460
- Commercial real estate
- 2,006 SF
- 0.15 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 902 J St
- Year built
- 1950
- Lot size
- 0.15 lot acres
- Property size
- 2,006 SF
- Property type
- Commercial real estate
- APN
- 38-43-44-21-15-280-0010
Description
This exceptional 3-unit apartment building presents a compelling value-add investment opportunity in the heart of historic Lake Worth Beach, Florida. Built in 1950, this charming 2,006 square foot property boasts solid concrete block construction, impact windows and doors, and exemplifies Streamline Moderne architecture. Each of the three units has undergone tasteful remodeling, seamlessly blending vintage Florida charm with modern amenities. The property features off-street parking for two vehicles, lush tropical landscaping, and a fenced yard, enhancing both curb appeal and tenant appeal. Currently operating at 33% occupancy, the property generates a net operating income (NOI) of $20,400, with a pro-forma NOI projected at $49,800. The asking price is $949,000, translating to $316,333.33 per unit and $473.08 per square foot. Located just blocks from the vibrant downtown area and minutes from the beach, this property enjoys a prime location in Palm Beach County, offering easy access to major roadways and attractions. The property sits on a 0.15-acre lot and is zoned SF-TF-14. This is a rare opportunity to acquire a well-located, historically significant multifamily property with significant upside potential. The property's strong bones, desirable location, and renovation potential make it an ideal investment for both seasoned and aspiring real estate investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Worth Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0557298
- Latitude
- 26.626444
