West Palm Beach, FL 33407,513 47th ST
West Palm Beach, FL 33407,513 47th ST
West Palm Beach, FL 33407,513 47th ST
West Palm Beach, FL 33407,513 47th ST
West Palm Beach, FL 33407,513 47th ST
West Palm Beach, FL 33407,513 47th ST
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Listed by The Corcoran Group
Bought with Beaches MLS

$499,000

$499,000

Est.Price: ?

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Est. payment /mo

8 Beds

5 Baths

2,625 SqFt


SOLD DATE : 12/08/2023

Key Details

Sold Price $499,000

Property Type Single Family Home

Sub Type Single Family Detached

Listing Status Sold

Purchase Type For Sale

Square Footage 2,625 sqft

Price per Sqft $190

Subdivision North Palm Bch 1

MLS Listing ID RX-10929351

Sold Date 12/08/23

Style Dup/Tri/Row,Multi-Level

Bedrooms 8

Full Baths 5

Construction Status Resale

HOA Y/N No

Year Built 1942

Annual Tax Amount $7,238

Tax Year 2022

Lot Size 5,256 Sqft

Property Description

Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700Unit #2 650 SF 2/1 $1,700Unit #3 650 SF 2/1 $1,700Unit #4 275 SF Studio $1,200Unit #5 400 SF 1/1 $1,400

Location

State FL

County Palm Beach

Area 5420

Zoning SF7(ci

Rooms

Other Rooms Cottage, Laundry-Inside

Master Bath Mstr Bdrm - Ground

Interior

Interior Features Entry Lvl Lvng Area

Heating No Heat

Cooling None

Flooring Other

Furnishings Unfurnished

Exterior

Parking Features 2+ Spaces, Driveway

Community Features Handyman, Sold As-Is

Utilities Available Electric, Public Sewer, Public Water

Amenities Available None

Waterfront Description None

Present Use Handyman,Sold As-Is

Exposure South

Private Pool No

Building

Lot Description < 1/4 Acre, East of US-1

Story 2.00

Foundation Frame

Construction Status Resale

Others

Pets Allowed Yes

Senior Community No Hopa

Restrictions None

Acceptable Financing Cash, Conventional

Horse Property No

Membership Fee Required No

Listing Terms Cash, Conventional

Financing Cash,Conventional

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6700 North Andrews Ave. #203, Fort Lauderdale, FL, 33309

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