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513 47th Street, West Palm Beach, FL 33407
$499,000
513 47th Street, West Palm Beach, FL 33407View this property at 513 47th Street, West Palm Beach, FL 33407
513 47th StreetWest Palm BeachFL33407
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Property Description
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 (currently 4) in total which have been gutted and preliminary plans drawn to show highest and best use. The proposed units are listed below along with their renovated rent projections. Full rehab is needed. The renovated property can generate $7,700 a month. That's a 10% CAP rate!Unit #1 650 SF 2/1 $1,700 Unit #2 650 SF 2/1 $1,700 Unit #3 650 SF 2/1 $1,700 Unit #4 275 SF Studio $1,200 Unit #5 400 SF 1/1 $1,400
Full Property Details
Full Property Details for 513 47th St
General
- Sold For: $499,000
- Taxes: $7,238
- Status: Closed
- Type: Multi-Family
- MLS ID: RX-10929358
- Added to Site: 209 day(s) ago
Interior
- Flooring: Other
Exterior
- Exterior Features: Fence
Location
- Area: 5420
- County: Palm Beach
- Subdivision: North Palm Bch 1
- Driving Directions: I-95 East to Broadway, go north to 47th Street, right turn onto 47th Street first block
Heating & Cooling
- Cooling Type: None
- Heating Type: No Heat
Utilities
- Utility Description: Electric, Public Sewer, Public Water
Structural Information
- Architectural Style: Duplex/Triplex/Quad
- Construction: Frame
- Roof: Flat Tile
- Stories/Levels: 2.0
- Square Feet: 2,625
- Year Built: 1942
Lot Features
- Zoning: SF7(ci
- Lot Description: < 1/4 Acre
Financial Considerations
- Tax Amount: $7,238.12
Listed by The Corcoran Group
Sold by Non Member Office
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Schools
Schools serving 513 47th St
School District:Palm Beach Schools
Rating | Name | Grades | Distance |
---|---|---|---|
4111 N Terrace Dr, West Palm Bch, FL 33407 | PK-5 | 0.6 mi | |
1901 Avenue S, Riviera Beach, FL 33404 | 6-8 | 2.5 mi | |
3505 Shiloh Dr, West Palm Bch, FL 33407 | 9-12 | 3.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 513 47th St
Date
Details
Price
Change
Source
12/08/2023
Sold
$499,000
—
MLS
10/19/2023
Listed
$499,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
513 47th Street, West Palm Beach, FL 33407 (MLS# RX-10929358) is a Multi-Family property that was sold at $499,000 on December 08, 2023. Want to learn more about 513 47th Street? Do you have questions about finding other Multi-Family real estate for sale in West Palm Beach? You can browse all West Palm Beach real estate or contact a Coldwell Banker agent to request more information.