About 513 47th Street
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700Unit #2 650 SF 2/1 $1,700Unit #3 650 SF 2/1 $1,700Unit #4 275 SF Studio $1,200Unit #5 400 SF 1/1 $1,400Property currently classified as 4 units on PAPA. Buyer responsible for working with the city to convert to 5 units.
Single Family home for sale in West Palm Beach, FL at 513 47th Street. This 8 bedroom Single Family home is priced at $190/sqft
Features of 513 47th Street
| MLS® # | RX-10929351 |
|---|---|
| Price | $499,000 |
| Bedrooms | 8 |
| Bathrooms | 5.00 |
| Full Baths | 5 |
| Square Footage | 2,625 |
| Acres | 0.12 |
| Year Built | 1942 |
| Type | Single Family |
| Sub-Type | Single Family Homes |
| Style | Multi-Level, Dup/Tri/Row |
| Status | Pending |
Community Information: West Palm Beach
| Address | 513 47th Street |
|---|---|
| Area | 5420 |
| Subdivision | NORTH PALM BCH 1 |
| City | West Palm Beach |
| County | Palm Beach |
| State | FL |
| Zip Code | 33407 |
Amenities of 513 47th Street
| Amenities | None |
|---|---|
| Utilities | 3-Phase Electric, Public Sewer, Public Water |
| Parking | 2+ Spaces, Driveway |
| Is Waterfront | No |
| Waterfront | None |
| Has Pool | No |
Interior of 513 47th Street
| Interior Features | Entry Lvl Lvng Area |
|---|---|
| Appliances | None |
| Heating | No Heat |
| Cooling | None |
| Fireplace | No |
| # of Stories | 2 |
| Stories | 2.00 |
Exterior of 513 47th Street
| Lot Description | < 1/4 Acre, East of US-1 |
|---|---|
| Construction | Frame |
Additional Information On 513 47th Street
| Listing Courtesy of | The Corcoran Group |
|---|---|
| Date Listed | October 20th, 2023 |
| Zoning | SF7(ci |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
Listing Details
| Office | The Corcoran Group |
|---|