Log In/Sign Up
Your email has been sent.
2649 Lake Dr 7 Unit Apartment Building $9,490,000 ($1,355,714/Unit) Riviera Beach, FL 33404
Investment Highlights
- 90% Occupied. Gross Annual Income = $283,200. 7 condos = $195,600. 8 Boat Slips = $87,600
Executive Summary
Imagine owning a luxury waterfront property where the world...literally...dives in!! This rare gem is a boaters paradise with 7 condos and 8 boat slips/lifts in a private marina, all FULLY renovated and upgraded from top to bottom with unprecedented wide intracoastal views. Located on the magnificent Singer Island, intracoastal side just a few short breaths away from The Top 10 Globally Recognized Shallow Water Dive Spots. Just minutes from Palm Beach Island and 15 minutes to PBI airport, this one of a kind community has a brand new metal roof and all new impact windows/doors and fully renovated in 2023. All condos boast new kitchens, appliances, bathrooms, hvac and flooring. Fully fenced and secured!
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$360,000
|
$51.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$360,000
|
$51.14
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$150,000
|
$21.31
|
| Net Operating Income |
$210,000
|
$29.83
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $360,000 |
| Annual Per SF | $51.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $360,000 |
| Annual Per SF | $51.14 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $150,000 |
| Annual Per SF | $21.31 |
| Net Operating Income | |
|---|---|
| Annual | $210,000 |
| Annual Per SF | $29.83 |
Property Facts
| Price | $9,490,000 | Building Class | C |
| Price Per Unit | $1,355,714 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 7,040 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1973/2023 |
| Apartment Style | Low-Rise | Parking Ratio | 2.29/1,000 SF |
| Zoning | Multifamily/Hotel - RMH-15—MULTI-FAMILY/HOTEL (RMH-15) (56-RIVIERA BEACH) | ||
| Price | $9,490,000 |
| Price Per Unit | $1,355,714 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 7,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2023 |
| Parking Ratio | 2.29/1,000 SF |
| Zoning | Multifamily/Hotel - RMH-15—MULTI-FAMILY/HOTEL (RMH-15) (56-RIVIERA BEACH) |
Amenities
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Cabana
- Dock
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 1 | $3,600 | 1,660 |
| 2+1.5 | 6 | $2,500 | 830 |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 (2025) | |
| Land Assessment | $0 (2025) | Total Assessment | $5,510,000 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$5,510,000 (2025)
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2649 Lake Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.