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715 Washington Ave 4 Unit Apartment Building $1,300,000 ($325,000/Unit) 5.55% Cap Rate Lake Worth, FL 33460
Executive Summary
Exceptional investment opportunity in the heart of Lake Worth Beach! This solid 4-unit multifamily at 715 Washington Ave features four spacious 3-bedroom, 1-bath apartments, each with its own washer & dryer, separate water and electric meters, and private entrances. Three units are currently rented at $2,200/month, with one vacant unit; market rent potential is $2,500/month per unit, bringing possible gross annual revenue to $120,000. Units offer bright living spaces, functional kitchens, and a well-maintained layout. Situated on a generous lot with off-street parking, the property is close to schools, shopping, dining, public transit, downtown, and beautiful beaches. With strong rental demand and value-add potential, this is an ideal cash-flowing asset for any investor.
Property Facts
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $325,000 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,712 SF |
| Cap Rate | 5.55% | Average Occupancy | 100% |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1980/2024 |
| Property Type | Multifamily | Parking Ratio | 1.7/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | SF-TF-14 - Zoning Description: 715 Washington Ave is located within the City of Lake Worth Beach and is zoned MF-30 (Multi-Family Residential, High Density) | ||
| Price | $1,300,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 5.55% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,712 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2024 |
| Parking Ratio | 1.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SF-TF-14 - Zoning Description: 715 Washington Ave is located within the City of Lake Worth Beach and is zoned MF-30 (Multi-Family Residential, High Density) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | $2,350 | - |
1 1
Property Taxes
| Parcel Number | 38-43-44-34-01-000-0500 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $770,793 |
Property Taxes
Parcel Number
38-43-44-34-01-000-0500
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$770,793
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