Lake Worth, FL 33460
- $3,400,000
- Sold Price
- $3,400,000
- List Price
- $3,500,000
- Closing Date
- Nov 10, 2025
- MLS#
- A11857160
- Status
- CLOSED
- Type
- Commercial
Property Description
Lake Lofts is a 3-story concrete block boutique apartment building with 25 units only footsteps from Lake & Lucerne Avenues in Lake Worth Beach. The property features an attractive unit mix including one studio, 21 1BR/1BA, two 2BR/1BA and an attached house 3BR/1.5BA with a den. Lake Lofts is offered with a very attractive assumable loan featuring a 2.87% interest rate locked until June 2027. The current outstanding balance is approximately $1,850,000 and the loan has a maturity date of May 2042. The property has been historically operating near 100% occupancies with effective rents of $1,626/unit. Rents include electric, water and gas. Current market rents average $1,682/month allowing to raise rents by ~$17k/yr. A new owner can implement a value-add program for an additional $90k/yr.
Additional Information
- Days on Market
- 22
- Tax Amount
- $71,142
- Parcel Number
- 38434421150170291
- Lot Size
- 8,778
- Address
- Lake Worth
- Year Built
- 1923
- Section
- 21
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Listing Courtesy of CBRE, Inc., Contact:
Selling Office: CBRE, Inc..