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Lake Worth, FL 33460

$3,400,000

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Sold Price: $3,400,000
List Price: $3,500,000
Closing Date: Nov 10, 2025
MLS#: A11857160
Status: CLOSED
Type: Commercial

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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.

+1-954-990-5004

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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