906 N L St
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906 N L St
4 Unit Block of Flats £1,124,035 (£281,009/Unit) 7.71% Net Initial Yield Lake Worth Beach, FL 33460
Investment Highlights
- This four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land.
- Apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
- Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit.
- Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean.
Executive Summary
Prime Location: Situated on N L St., this property benefits from high visibility and easy accessibility, attracting a steady flow of potential long and short term tenants.
This four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land. Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit, apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
Beautifully landscaped with a fenced in yard.
• Proximity to Attractions: Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean, this property offers convenience and lifestyle appeal, attracting a steady flow of visitors, tourists, and potential tenants.
• Investment Growth: Situated in a rapidly developing area with increasing property values, this investment promises strong
appreciation potential, making it a smart choice for long-term returns and portfolio growth.
Highlights
Beach Access: Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living and for businesses catering to tourists and beachgoers.
Mixed-Use Potential: The property’s zoning allows for a mix of commercial and residential uses, offering flexible investment
opportunities and diverse revenue streams.
This four unit multifamily property consists of 2,553 sq. ft on 6689 sq. ft. of land. Apartment one is a Studio 1 bath unit, apartment two, is a 2 bedroom 1 bath unit, apartment three is a Studio 1 bath unit, apartment four is a two bedroom 1 bath unit.
Beautifully landscaped with a fenced in yard.
• Proximity to Attractions: Located just minutes from downtown Lake Worth Beach and the Atlantic Ocean, this property offers convenience and lifestyle appeal, attracting a steady flow of visitors, tourists, and potential tenants.
• Investment Growth: Situated in a rapidly developing area with increasing property values, this investment promises strong
appreciation potential, making it a smart choice for long-term returns and portfolio growth.
Highlights
Beach Access: Located just a short drive from the beach, the property is attractive for those looking to enjoy coastal living and for businesses catering to tourists and beachgoers.
Mixed-Use Potential: The property’s zoning allows for a mix of commercial and residential uses, offering flexible investment
opportunities and diverse revenue streams.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£120,238
|
£47.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£120,238
|
£47.10
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£33,524
|
£13.13
|
| Net Operating Income |
£86,714
|
£33.97
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £120,238 |
| Annual Per SF | £47.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £120,238 |
| Annual Per SF | £47.10 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £33,524 |
| Annual Per SF | £13.13 |
| Net Operating Income | |
|---|---|
| Annual | £86,714 |
| Annual Per SF | £33.97 |
Property Facts
| Price | £1,124,035 | Apartment Style | Low Rise |
| Price Per Unit | £281,009 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 2,553 SF |
| Net Initial Yield | 7.71% | Number of Floors | 2 |
| No. Units | 4 | Year Built/Renovated | 1943/2022 |
| Property Type | Residential | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Apartment |
| Price | £1,124,035 |
| Price Per Unit | £281,009 |
| Sale Type | Investment |
| Net Initial Yield | 7.71% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.15 AC |
| Building Size | 2,553 SF |
| Number of Floors | 2 |
| Year Built/Renovated | 1943/2022 |
| Parking Ratio | 1.57/1,000 SF |
Site Amenities
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 2,553 |
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Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 38-43-44-21-15-284-0020 | Improvements Assessment | £335,368 |
| Land Assessment | £153,165 | Total Assessment | £488,533 |
PROPERTY TAXES
Parcel Number
38-43-44-21-15-284-0020
Land Assessment
£153,165
Improvements Assessment
£335,368
Total Assessment
£488,533
zoning
| Zoning Code | SF-TF-14 (SF-TF-14 (city) / Single Family Residential District) |
| SF-TF-14 (SF-TF-14 (city) / Single Family Residential District) |
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906 N L St
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