Categories
Apartments
About this property
Single family house and triplex located on one lot within an Opportunity Zone.
Triplex consists of two ground floor studios and an upstairs 2/1 with a high ceilings and lots of character. House is built solid with Dade County pine and has original hardwood floors. House is under a termite bond transferable to buyer.
Major employment center St. Mary's Medical Center is within walking distance of the property, as well as Rybovich Marina. Great opportunity to buy in the up-and-coming north end of WPB at an attractive basis.
- Property is owned free and clear. Seller financing is available or a cash sale.
- Currently, 3 of 4 units are leased on a month-to-month lease basis. Current owner lives in one of the studio units.
- Current rents are well below market rents and can be brought to market. With interior renovation, higher rents are possible.
- Multiple exit strategies: Rental property or conversion to a for sale residential deal, fix and flip. The property is a Historic Contributing structure and demand is high for historic homes.
- City of West Palm Beach Ad Valorem Tax Exemption program allows for reduction in property taxes for property improvements. Located in an Opportunity Zone with potential for reduction or elimination of capital gain taxes if guidelines are met. See Incentives section for further information.
Property details
- Property Type
- Residential
- Building Type
- Freestanding
- Building Size
- 2,440 sqft
- Land Size
- 0.12 acres
- Units
- 4
- Zoning
- SF-7
- Year Built
- 1926
- Construction
- Frame
Location
- Address
-
518 49th Street
West Palm Beach, Florida 33407