305 CYPRESS #1,2,3,4,5 ,Two Story, Quadruplex, Fourplex, Kelsey City for Sale

305 CYPRESS #1 for Sale

Price $1,280,000.00

• Lot size 12595
• Year Build 1928
• Waterfront
• Zip 33403
• Style Two Story
• Parking Description
• Pool Yes
• Status Active

Description

INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.

KELSEY CITY LTS 44 TO 46 INC BLK 69

1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre

INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.

City:Lake Park,Roof:1:Flat Tile,2:Flat Roof With Facade Front,3:Shingle,Sewer:1:Public Sanitation,2:Sewer,Zoning:R1 (city),Cooling:1:Central Air,Country:United States,Heating:1:Central,List A O R:BeachesMLS,Stories:2,Tax Year:2025,Latitude:26.7947433,Cooling Y N:1,Heating Y N:1,List Price:1280000,Listing Id:B26080606,Longitude:-80.0588938,Mls Status:Active,Utilities:1:Cable Available,2:Electricity Available,3:Water Available,Year Built:1928,Directions:US-1 to Cypress Dr.,High School:Palm Beach Gardens,Living Area:2504,Postal Code:33403,Street Name:CYPRESS,Unit Number:1,2,3,4,5,Coordinates:1:26.7947433,Lot Features:1:Less Than 1 Acre,Photos Count:53,Business Type:1:Residential-Multi-Family,Days On Market:5,Listing Terms:1:Conventional,2:Exchange,3:VA Loan,Lot Size Acres:0.29,Lot Size Units:Square Feet,M I A M I R E_ Area:5270,M L S Area Major:Kelsey City,On Market Date:2026-09-25,Parcel Number:36434220010690440,Property Type:Residential Income,Stories Total:2,Street Number:305,Street Suffix:Drive,Public Remarks:INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.,County Or Parish:Palm Beach County,Expiration Date:2027-09-24,List Office Name:RE/MAX Prestige Realty/Wellington,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:3448,Property Sub Type:Quadruplex,State Or Province:FL,Subdivision Name:KELSEY CITY,Tax Annual Amount:16955,Unparsed Address:305 CYPRESS Drive # 5, Lake Park FL 33403,Listing Agreement:Exclusive Agency,M I A M I R E_ Blogging:1,Year Built Details:Resale,Building Area Total:2504,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:12595,M I A M I R E_ L P Amt Sq Ft:511.1821,M I A M I R E_ Num Floors:2,Original List Price:1280000,Building Area Source:Appraisal,I D X Participation Y N:1,Number Of Units Total:4,Syndication Remarks:INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.,Listing Contract Date:2026-09-25,Originating System I D:miamire,Showing Instructions:24 Hour Notice,Call Listing Agent,Elect Lockbox-Call List Agent,Street Number Numeric:305,Tax Legal Description:KELSEY CITY LTS 44 TO 46 INC BLK 69,M I A M I R E_ Current Price:1280000,Middle Or Junior School:Howell L. Watkins,Construction Materials:1:Frame With Stucco,2:Stucco,M I A M I R E_ Municipal Code:36,M I A M I R E_ Num Leases Year:365,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Geographic Area:Palm Beach 5270; 5280; 5290,M I A M I R E_ Parcel Number M L X:3643,Contract Status Change Date:2026-09-25,Internet Address Display Y N:1,M I A M I R E_ Cable Available Y N:1,Number Of Units In Community:4,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,M I A M I R E_ Subdivision Number:1,M I A M I R E_ Acreage Description:1/4+ To 1/2 Acre,M I A M I R E_ Environmental Audit:None,M I A M I R E_ Num Times Leased Year:365,M I A M I R E_ Agent Alternate Phone:561-262-3565,M I A M I R E_ Approx Sqft Total Area:12595,Internet Entire Listing Display Y N:1,M I A M I R E_ Dade Market Amt Assessed Amt:580982,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:511.18,Internet Automated Valuation Display Y N:1,