4138 Kirk RD, Lake Worth, FL 33461 - MLS#RX-11138493

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Kate Zhurko

kate.zhurko@compass.com +1(954) 734-5980

Listed by KW Reserve Business Brokerage LLC

$690,000

Est. payment - /mo

3 Beds

2 Baths

1,008 SqFt

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,008 sqft

Price per Sqft $684

Subdivision Palm Beach Farms Co 7

MLS Listing ID RX-11138493

Bedrooms 3

Full Baths 2

Construction Status Resale

HOA Y/N No

Year Built 1949

Annual Tax Amount $5,269

Tax Year 2024

Lot Size 1.250 Acres

Property Sub-Type Duplex

Property Description

The current NOI is $53,548 with a 7.65% CAP rate. Build 6 additional units, which will increase the total revenue to $206,500 and the NOI to $185,400, at a total cost of $1,901,500, resulting in a cap rate of 9.75%. Alternatively, you could purchase the property and convert the entire project into 11 units. Discover the potential of this rare 1.25-acre parcel, zoned RM (Multi-Family, Medium Density) and located in an unincorporated area. The site may accommodate up to 11 residential units--a prime opportunity for developers or investors seeking a strong growth prospect. Enjoy a strategic location just minutes from I-95, the Florida Turnpike, and a variety of shopping, dining, schools, and employment hubs..

Location

State FL

County Palm Beach

Area 5700

Zoning RM

Interior

Heating No Heat

Cooling Electric

Flooring Carpet

Exterior

Exterior Feature None

Utilities Available Cable, Electric, Water Available

Amenities Available None

Waterfront Description None

Roof Type Comp Shingle

Private Pool No

Building

Lot Description 1 to < 2 Acres

Story 1.0

Foundation CBS

Construction Status Resale

Schools

Elementary Schools Palm Springs Elementary School

Middle Schools Lake Worth Community Middle

High Schools Lake Worth High School

Others

Senior Community No Hopa

Restrictions None

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Financing Cash,Conventional,FHA

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Kate Zhurko

+1(954) 734-5980

Broker Associate | License ID: 3229050

Broker Associate License ID: 3229050

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4138 Kirk RD Lake Worth, FL 33461

Kate Zhurko

Key Details

Location

Interior

Exterior

Building

Schools

Others

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