926 N L Street, Lake Worth Beach, FL 33460 (MLS# RX-10927210)


$1,800,000
926 N L Street
Lake Worth Beach, FL 33460
MLS# RX-10927210
Status: Closed
8 baths  |  5120 sqft


926 N L Street, Lake Worth Beach, FL 33460
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Property Description
SELLER FINANCING AVAILABLE! Rare opportunity to purchase an eight (8) unit multifamily building in Downtown Lake Worth! This property is being offered on the open market for the first time in 30+ years. This multifamily building has eight (8) total condo units, featuring all 1BR, 1 BA with approximately 640 Living SF each. This property is the perfect value add for any investor looking to raise rents and/or renovate the property. 100% occupancy and ideal for a 1031 buyer. Current NOI - $98,741

Details
Maps
Contract Information
Status: Closed
Original List Price: 1800000
Auction: No
Sold Price: $1,100,000
Current Price: $1,100,000
List Price/Bldg SqFt: 351.56
Listing Date: 2023-10-12
Comm/Non-Rep: 1.0%
Comm/Buyer Agent: 2.5%
Comm/Trans Brk: 2.5%
General Property Description
Type: MultiFamily (5+ Units)
For Sale: Yes
For Lease: No
Property Desc: 8 UNIT BUILDING
Subdivision: LAKE WORTH TOWN OF
Year Built: 1974
SqFt - Living: 5120
SqFt Source: Tax Rolls
# of Stories: 2
Total Units: 8
Baths - Total: 8
Acres: 0.2
% Air Conditioned: 100
Waterfront: No
Location, Tax & Legal
Area: 5600
Geo Area: PB16
Country: United States
County: Palm Beach
Parcel ID: 38434421152840071
Street #: 926
Street Dir: N
Street Name: L
Street Suffix: Street
State/Province: FL
Zip Code: 33460
Zoning: SF-TF-14
Legal Desc: TOWN OF LAKE WORTH W 85 FT OF LTS 7 & 8 BLK 284
Tax Year: 2022
Real Estate Taxes: 16114
Geo Lat: 26.627252
Geo Lon: -80.053787
Remarks & Misc
Directions: NORTH ON FEDERAL HWY. RIGHT ON 10TH AVE N. RIGHT ON N L STREET
Office/Member Info
DXORIGMLNO: RX-10927210
DXORIGMLSID: RML
Status Change Info
Under Contract Date: 2023-12-11
Sold Date: 2023-12-29
Sold Price: $1,100,000
Terms of Sale: Cash
Sold Price/Bldg SqFt: 214.84
Monetary Info
Gross Oper Income: 131520
Total Expenses: 32779
Net Oper Income: 98741
Source of Expenses: Owner
Expenses
Insurance: 12173
R.E. Taxes: 15006
Utilities: 3600
Maint & Repair: 2000
Unit 1
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 2
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 3
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 4
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 5
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 6
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 7
Unit Desc: 1 Bedroom
Full Baths: 1
Unit 8
Unit Desc: 1 Bedroom
Full Baths: 1
Property Features
Use: Income
Type of Building: Free Standing
Construction: CBS
Sale Includes: Building and Land
Avail Docs: Survey
Avail Info: Copies of Lease; Owner managed
Flooring: Tile
Cooling: Central; Electric; Wall-Win A/C
Heating: Central; Electric; Window/Wall
Fire Protect: Smoke Detector
Tenant Pays: Cable; Electric
Utilities: Public Sewer; Public Water
Roof: Comp Shingle
Terms Considered: Cash; Conventional; Owner
Lease: Annual
Contingencies: Inspection

Listing Office: Coldwell Banker Premium Realty

Last Updated: January - 13 - 2024

926 N L Street, Lake Worth Beach, FL 33460 - MLS# RX-10927210
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