Value-Add Opportunity in the Delray Beach Marina District! Huge income upside and room for future development, currently fully leased and updated. Statement marble floors top line finishes fully furnished just STEPS from all the shopping and dining on Atlantic Avenue and the BEST beaches in SOFLO. PLEASE do not disturb tenants: Fully-occupied property of two studio units and two 2 bed 1bath units, all equipped with modern kitchens and bathrooms and each unit has a new stackable W/D, a private, secure pet friendly fenced yard. Marina slip rental adjacent to put your yacht. NO rental restrictions. Income figures based on rentals at present time. Sold furnished. Freshly painted exterior, new fence, all new landscaping. Perfect for vacation rentals, ABNB or Owner to live work play in DelProperty is located in the Marina historic district. Many properties on same block have been fully redeveloped into modern two story town-homes and houses; however, Seller and Seller's agent and broker make no representations regarding the ability to redevelopment or improve the Property. The Property is a short walk to the beach and the entertainment district on Atlantic Avenue. Property has been completely remodeled and is fully leased. This is a must see location. Cap Rate is currently 3.69%. Just a small increase in rental income could put this Cap Rate in the mid to high 5% range for long term rentals, or even higher with short term rentals.
Cable, 3-Phase Electric, Public Sewer, Public Water
< 1/4 Acre, Corner Lot, East of US-1, Paved Road
|Status Changed from Active Under Contract to Pending||–|
|Status Changed from Active to Active Under Contract||–|
|Status Changed from Price Change to Active||–|
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|Price Increased from $450,000 to $4,500,000|
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Listing information last updated on August 19th, 2022 at 12:00am EDT.