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414 33rd Street

West Palm Beach, FL 33407
  • $899,000
  • STATUS: Active Under Contract
  • ON SITE: 179 Days
  • ID#: RX-10805356
Under Contract
UPDATED: 40 min ago
$899,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,104
    SQFT
  • $290
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1925
County:

School Ratings & Info

Description

Welcome to the historic neighborhood of Northwood; one of West Palm Beach's hottest areas. This is a rare opportunity to own an income producing multi-family property perfectly situated East of US1 just blocks to the Intracoastal Waterway. This historical gem consists of 5-Total Units spread out over 2-Structures on an oversized lot. The front Main House is a quintessential Mission Style Home complete with 2 Bedrooms and 2 Full Baths. (1,496 Under Air). Currently occupied by the owner.The remaining 4-Units are all 1 Bedroom and 1 Full Bath located in a 2-story Quadplex with Upper & Lower Porches situated behind the main house on the back of the property. ALL 4-Units are currently occupied month-to-month by long-term tenants. (1,608 Under Air). SEE SUPPLEMENT.There are several income producing opportunities here including an owner occupied seasonal rental with AirBNB or as annual rentals. Rent is in this area has increases nearly 30% year-over-year. Located in an up in coming area and surrounded by million dollar homes this income producing property would be perfect for any investor or savvy family looking for the opportunity to create extra income. It's been 26 years since this property was last offered on the open market. Don't miss the BIG OPPORTUNITY!

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www.scottschneidergroup.com/homes/129466628
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414 33rd Street West Palm Beach, FL 33407

  • Price: $899,000
  • Status: Active Under Contract
  • On Site: 179 Days
  • Updated: 40 min ago
  • ID#: RX-10805356
0
Beds
0
Baths
0
½ Baths
0.14
Acres
3,104
SQFT
$290
$/SQFT
1925
Built
Neighborhood:
Old Northwood
County:
Palm Beach
Area:
West Palm Beach
Property Description
Welcome to the historic neighborhood of Northwood; one of West Palm Beach's hottest areas. This is a rare opportunity to own an income producing multi-family property perfectly situated East of US1 just blocks to the Intracoastal Waterway. This historical gem consists of 5-Total Units spread out over 2-Structures on an oversized lot. The front Main House is a quintessential Mission Style Home complete with 2 Bedrooms and 2 Full Baths. (1,496 Under Air). Currently occupied by the owner.The remaining 4-Units are all 1 Bedroom and 1 Full Bath located in a 2-story Quadplex with Upper & Lower Porches situated behind the main house on the back of the property. ALL 4-Units are currently occupied month-to-month by long-term tenants. (1,608 Under Air). SEE SUPPLEMENT.There are several income producing opportunities here including an owner occupied seasonal rental with AirBNB or as annual rentals. Rent is in this area has increases nearly 30% year-over-year. Located in an up in coming area and surrounded by million dollar homes this income producing property would be perfect for any investor or savvy family looking for the opportunity to create extra income. It's been 26 years since this property was last offered on the open market. Don't miss the BIG OPPORTUNITY!
Exterior Features

Carport Spaces 1.00 Construction Stucco Exterior Features None Lot Description Interior Lot Private Pool YN No Roof Comp Rolled Unit1 Parking None Unit2 Parking None Waterfront Description None Waterfront YN No

Interior Features

Cooling ElectricWall-Win A/C Flooring Vinyl FloorWood Floor Heating Other Unit1 Desc A/C Unit Unit1 Full Baths 1 Unit1 Furnished No Unit1 Sq Ft 402 Unit2 Desc A/C Unit Unit2 Full Baths 1 Unit2 Furnished No Unit2 Sq Ft 402 Unit3 Sq Ft 402 Unit4 Sq Ft 402

Property Features

Annual Net Operating Income 12000.00 Annual Total Expenses 16000.00 Auction No Available Info AccountingLeases Built Desc Resale Contingent Active Under Contract Contingents Inspection Gated Community No Gross Operating Income 36000.00 Homeowners Association None HOPA No Hopa List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Multifamily Type Quad Plex Possession At Closing REO No Restrictions None Separate Electric Meters Yes Separate Water Meters No Short Sale No Short Sale Addendum No Short Sale AU N/A Source Of Expenses Owner Sq Ft Total 3360.00 Subdivision Amenities None Tax Amount 9245.00 Tax Year 2021 Taxes No Homestead Tenant Pays Electric Terms Considered CashConventional Unit1 Monthly Income 900.00 Unit2 Monthly Income 950.00 Unit3 Monthly Income 700.00 Unit4 Monthly Income 700.00 Utilities ElectricGas NaturalPublic SewerPublic Water Zoning Sf14-C3 - Hist.

Listing provided courtesy of Douglas Elliman: (561) 278-5570. Listing information © 2022 BeachesMLS
 
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Scott Schneider Group at Elevate Real Estate Brokers
6451 N Federal Hwy, Suite 404
Ft Laurderdale FL, 33308