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1601 NE 3rd Ave 6 Unit Apartment Building $2,100,000 ($350,000/Unit) Delray Beach, FL 33444
Investment Highlights
- Six existing residential units with value-add renovation potential.
- Located in East Delray Beach near Atlantic Avenue and the beachfront.
- Potential opportunity for redevelopment, subject to zoning and municipal approvals.
- Each residence features a two-bedroom, one-bathroom layout.
- Convenient access to dining, shopping, entertainment, and Downtown Boynton Beach.
- Positioned in a highly sought-after South Florida coastal market.
Executive Summary
Exceptional investment and redevelopment opportunity in a prime East Delray Beach location, just minutes from Atlantic Avenue, the beach, dining, shopping and entertainment, also with convenient access to Downtown Boynton Beach. Currently configured as a six-unit multifamily property, each residence offers 2 bedrooms, 1 bathroom and approximately 780 square feet each. Renovate and reposition the existing units as an income-producing asset, or explore the potential for redevelopment into a single-family residence or alternative use, such as a wellness-oriented concept, subject to zoning and municipal approvals. With multiple possibilities and an irreplaceable location, this is a rare opportunity to bring a new vision to one of South Florida's most desirable coastal areas.
Property Facts
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $350,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.29 AC |
| No. Units | 6 | Building Size | 5,146 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1974 |
| Zoning | R-1-A | ||
| Price | $2,100,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 5,146 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | R-1-A |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 12-43-46-09-19-000-1081 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $554,660 |
Property Taxes
Parcel Number
12-43-46-09-19-000-1081
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$554,660
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1601 NE 3rd Ave