Bought with Nest Seekers Florida, LLC
$2,375,000
$2,499,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
9 Baths
0.34 Acres Lot
SOLD DATE : 05/17/2021
Key Details
Sold Price $2,375,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Delray Town Of
MLS Listing ID RX-10686249
Sold Date 05/17/21
Construction Status Resale
Abv Grd Liv Area 6
Year Built 1946
Annual Tax Amount $34,726
Tax Year 2020
Lot Size 0.340 Acres
Property Description
Prime real estate opportunity right in downtown Delray Beach and Atlantic Avenue! Best/most liberal zoning Central Business District (CBD) which allows for Hotels, Retail, and Office! This property has enormous potential for conversion to a Boutique Hotel, The property consists of two buildings, nine units in total. (161/173 SE 5th) The Total monthly gross income is $12,050/mo. Fully rented, updated kitchens, large one-bedrooms, and studios, tons of parking in front & back of the building, & coin-operated laundry. Back alley for parking, entry to the building, and trash. Beautiful courtyard next to the buildings. Partial hurricane shutters. One water meter for each building and separate electric meters for each unit. In the heart of Delray Beach development.
Location
State FL
County Palm Beach
Area 4230
Zoning CBD
Interior
Heating No Heat
Cooling Wall-Win A/C
Flooring Tile
Fireplaces Type Smoke Alarm
Exterior
Utilities Available Public Water
Waterfront No
Roof Type Comp Rolled,Comp Shingle
Building
Story 100.00
Foundation CBS
Construction Status Resale
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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