Property Listing
5314 Lake Avenue, West Palm Beach, FL 33405
SOLD $352,000Sold Oct 2022
Beds
2
Baths
1
Living Area (SF)
672
Price/SF
$524
Year Built
1947
Property Overview
Great investment or starter home for anyone looking to create a passive stream of income. Priced below market value, so new owners will immediately have equity (home appraised at 369k). This property offers the opportunity to convert the detached structure into a rental property, office space, mother-in-law suite... the possibilities depend on your creativity. Potential earnings are estimated around $3000/month and above (ask me how). That's potentially around $36k a year and a cap rate of 7%!! Brand new solar panels installed 2022, electricity bill historically as low as $70/month for both properties and comes with 25 year warranty. New A/C unit installed in 2019!! Sprinkler System on Well - overall saving you tons of $$$ on your overhead!!! The main home is a 2 bedroom 1 bath featuring. The main home is a 2 bedroom 1 bath featuring a huge private fenced yard with spacious covered patio and outdoor kitchen. Freshly painted inside and out, new and beautiful sod and landscape boasting 2 avocado, 2 mango trees, and space for a pool/RV/Boat! Complete set of Hurricane Panels for home included. 1 year transferable termite bond also included!! Minutes from intercoastal, Beaches, City Place, Downtown West Palm Beach, Palm Beach Intl Airport, shopping, restaurants, estate sales, and local attractions!! Just as charming as it appears in photos yet more impressive in person, you definitely don't want to miss your opportunity to see this home!
Features & Details
Location
Explore the property location and surrounding neighborhood context within West Palm Beach.
Listing Information
MLS ID: R10814271
Listing Office: KW Reserve Palm Beach
Listing Agent: Erica Batista
Source: BeachesMLS
Last Updated: Pending live MLS feed
Listing information is provided for consumer informational purposes only. Data will be updated with required MLS attribution, broker attribution, source disclosure, and accuracy disclaimers once the live IDX/MLS feed is connected.
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