131 South Federal Highway

Lake Worth Beach, FL 33460

$1,270,000
Last Sold Price
Beds
2,807 Sq. Ft.
$452 / Sq. Ft.
2,807
Sq. Ft.
$452
per Sq. Ft.

Description

Welcome to this charming and enchanting 5 unit property, nestled near the heart of trendy downtown Lake Worth. With its timeless appeal and old Florida charm, this hidden gem offers an incredible investment opportunity. All units have been recently and tastefully updated inside with tenants in place. This property would also make an incredible AirBnB/Short term rental property as well as downtown Lake Worth is 1 block away and you can walk or bike to restaurants, intracoastal and the beach! The property...Welcome to this charming and enchanting 5 unit property, nestled near the heart of trendy downtown Lake Worth. With its timeless appeal and old Florida charm, this hidden gem offers an incredible investment opportunity. All units have been recently and tastefully updated inside with tenants in place. This property would also make an incredible AirBnB/Short term rental property as well as downtown Lake Worth is 1 block away and you can walk or bike to restaurants, intracoastal and the beach! The property is also zoned for Mixed use meaning the possibilities with this property are limitless. Situated on a large corner .31 acre lot offering off street parking for all tenants and a garage for storage. This one would make in incredible addition to anyone's investment portfolio!
  1. Listed by Ryan Michael Poole • BitRealty

Property Details for 131 South Federal Highway

Subdivision
Town of Lake Worth
Waterfront
No
Waterfront Details
None
View
Garden
Style
No Pool/No Water

Location

Listing Courtesy of BitRealty

Sold By Douglas Elliman (Palm Beach)

Add your commute
LISTING UPDATED: 08/14/2023 08:24 AM

Property Details for 131 South Federal Highway

StatusClosed
MLS #RX-10889844
Days on Market30
Taxes$8,918 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quad Plex
Year Built1924
Lot Size-
CountyPalm Beach County

Location

Listing Courtesy of BitRealty

Sold By Douglas Elliman (Palm Beach)

Add your commute

Building Information for 131 South Federal Highway

Stories1Residences5Year Built1924Building Size-Lot Size-

Payment Calculator

$7,674 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,931

Property Taxes

$743

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 131 South Federal Highway

Summary
Location and General Information
  • Property Condition: Resale
  • Geo Area: Palm Beach 5600; 5610; 5620; 5630; 5640
  • Street Number: 131
  • Subdivision Complex Bldg: Town of Lake Worth
  • Municipal Code: Lake Worth Beach
  • State: FL
  • City Postal ID: 33460
  • MLS Area: 5610
  • MLS Sub Area: PB16
Parking
  • Carport Spaces: 10
  • Garage Spaces: 1
Taxes and HOA Information
  • Comm/Trans Brk: 2.5%
  • HOPA: No Hopa
  • Tax Year: 2022
  • HOA Dues: $0
Property
Lot Information
  • Area: 5610
  • HOA Amenities: None
  • Lot Description: 1/4 to 1/2 Acre
  • Parcel ID: 38434421150430150
  • Property Group ID: 19990816212116581394000000
  • REO: No
  • Sq Ft Total: 3,112
  • Square Ft Source: Tax Rolls
  • Zoning: Mixed Use
Property and Assessments
  • Legal Desc: TOWN OF LAKE WORTH LTS 15 & 16 BLK 43
  • Sq Ft Liv Area: 2807.0
  • Legal Description: TOWN OF LAKE WORTH LTS 15 & 16 BLK 43
Utilities
  • Utilities: Cable, Electric, Public Sewer, Public Water
Interior and Exterior Features
Exterior Features
  • Construction: Cbs Construction, Frame Construction, Frame With Stucco, Stucco Exterior Construction
  • Exterior Features: Exterior W/D Hookup
  • Private Pool: No
  • Storm Protection: Panel Shutters: Partial
  • Subdiv Amenities: None
  • Gated Community YN: No
Interior Features
  • Roof: Metal, Other
  • Separate Elec Meters: Yes
  • Separate Wtr Meters: Yes
  • Cooling: Central, Wall-Win A/C
  • Flooring: Laminate, Tile
  • Heating: Central, Window/Wall
  • Guest Accommodations: No
Multi Family
Multi-Family Information
  • Income & Expenses: Annual Net Oper Inc: $100,000.00
  • Income & Expenses: Annual Total Expense: $16,000.00
  • Income & Expenses: Gross Operating Inc: $116,400.00
  • Tenant Pays: Cable, Electric
Unit 1
  • Unit 1 Desc: A/C Unit, Den/Family, Electric Meter, Kitchen, Range - Electric, Refrigerator, Split Bedrooms
  • Unit 1 Info: Bedrooms: 3
  • Unit 1 Info: Full Bath: 1
  • Unit 1 Info: Furnished: Yes
  • Unit 1 Info: Monthly Income: 2,500
  • Unit 1 Info: SqFt: 1075.0
  • Unit 1 Parking: Open Parking
Unit 2
  • Unit 2 Desc: A/C Unit, Kitchen, Range - Electric, Refrigerator
  • Unit 2 Info: Bedrooms: 1
  • Unit 2 Info: Full Bath: 1
  • Unit 2 Info: Furnished: Yes
  • Unit 2 Info: Monthly Income: $2,000
  • Unit 2 Info: SqFt: 532.0
  • Unit 2 Parking: Open Parking
Unit 3
  • Unit 3 Desc: A/C Unit, Kitchen, Refrigerator
  • Unit 3 Info: Full Bath: 1
  • Unit 3 Info: Monthly Income: $1,800.00
  • Unit 3 Info: SqFt: 400.0
  • Unit 3 Parking: Open Parking
Unit 4
  • Unit 4 Desc: A/C Unit, Kitchen, Range - Electric
  • Unit 4 Info: Full Bath: 1
  • Unit 4 Info: Monthly Income: $1,700.00
  • Unit 4 Info: SqFt: 400.0
  • Unit 4 Parking: Open Parking
Agent
Agent Only
  • Selling Agent Full Name: Barry Gutknecht
  • Selling Office Branch ID: pb802465
Rental
Rental Information
  • Pets on Premises: No

Property History for 131 South Federal Highway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 131 South Federal Highway

This home is within Palm Beach.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 12
Public - 6 to 8
Charter - K to 8
Rating
School
Distance
South Grade Elementary School
PublicPK to 5

Lake Worth High School
PublicPK to 12

Lake Worth Community Middle School
Public6 to 8

Palm Beach Maritime Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of BitRealty

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.