512 N 9th Avenue N, FL 33460

Description

ROOF 2022 - over $60,000 spent in renovations Desirable Lake Worth Beach location east of US-1. Fourplex with strong in-place income and value-add upside with one unit currently available for lease. Unit mix and rents: Unit 512: 2BR/1BA rented at $1,950/month (lease through 12/31/2026) Unit 518: 1BR/1BA rented at $1,700/month (lease through 11/30/2026) Unit 516: Studio rented at $1,350/month (lease through 12/31/2026) Unit 514: Studio currently vacant; market rent approximately $1,350-$1,500/month 4 separate electric meters Roof approximately 5 years old. Parking for 4 vehicles plus street parking. Six onsite coin-operated laundry machines provide additional income potential. Convenient to K-8 school, downtown Lake Worth Beach, shopping, dining, and the beach With ongoing redevelopment, infrastructure improvements, and continued demand for rental housing, property values in Lake Worth Beach have shown steady appreciation over the past several years. Its location east of US-1 is especially desirable due to proximity to the Intracoastal Waterway, beaches, golf course, dining, shopping, and entertainment. The city's combination of coastal lifestyle, strong rental demand, and comparatively attainable pricing relative to other Palm Beach County markets positions it for continued long-term growth. For investors, Lake Worth Beach offers a compelling blend of cash flow potential and appreciation upside in a supply-constrained coastal market.