Quadruplex in 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 for sale with MLS# B26080606
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.
305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403
- Price:
- $1,280,000.00
- Original List Price:
- $1,280,000.00
- List Price per Sq Ft (Calculated, Approx.):
- $511.18
- Tenant Pays:
- Electricity, Cable Tv
- Listing Type:
- For Sale
- Status:
- Active
- Special Sale Conditions:
- Standard
- Listing Category:
- Residential Income (Multifamily 2-4)
- Property Type:
- Fourplex (Quadruplex)
- Description of Last Important Update:
- New Listing
- Last Major Update on:
- September 25, 2026 6:17 pm
- Living Area:
- 2,504 Sqft
- Built-Up Area:
- 2,504 Sqft
- Lot Area:
- 12,595 Sqft
- Building Area Source:
- Appraiser
- Living Area Source:
- Appraiser
- Lot Size Acres:
- 0.29
- View from the Property:
- City
- Waterfront:
- No
- Exterior:
- Courtyard
- Windows:
- Energy Star Qualified Windows
- Laundry:
- Common Area
- Air Conditioning
- Air Conditioning System:
- Central Air, Central Individual
- Heating
- Heating System:
- Central, Central Individual
- Fence:
- Back Yard, Front Yard
- Storm Protection Impact Glass:
- Complete
- Year Built:
- 1928
- Roof:
- Flat, Shingle
- Number of Units Total:
- 4
- Levels:
- Two
- Construction Materials:
- Frame, Stucco, Wood Frame
- Flooring:
- Tile
- Number of stories:
- 2
- Structure Type:
- Fourplex (Quadruplex), Multi Family
- Number of Units in the Community or Building:
- 4
- Flood Zone Code:
- X
- Property Condition:
- Resale
- Tax Annual Amount:
- $16,955.41
- Tax Year:
- 2025
- Tax Assessed Value:
- $580,982.00
- Property Tax Details:
- City/County
- Sewer:
- Public Sewer
- Utilities Available:
- Cable Available, Electricity Connected, Water Connected
- Water Source:
- Public
- Pets Allowed?:
- Yes, No Restrictions
- Subdivision Name:
- KELSEY CITY
- Senior Community:
- No
- Restrictions:
- No Restrictions
- Leasing Permitted
- Leasing Permitted Details:
- Okay To Lease
- Documents Available:
- Rent Rolls
- Listing Terms Considered by Seller:
- Cash, Conventional, VA Loan, 1031 Exchange
- Buyer Possession:
- Close Of Escrow
- Tax Legal Description:
- KELSEY CITY LTS 44 TO 46 INC BLK 69
- Real Estate Folio Number (Parcel Number):
- 36434220010690440
- Zoning:
- R1 (city)
- Elementary School:
- North Grade K-8
- High School:
- Palm Beach Gardens
- Middle Or Junior School:
- Howell L. Watkins
- Active on the market since:
- September 25, 2026
- Listing Agreement executed on:
- September 25, 2026
- Listing Status Last Changed On:
- September 25, 2026 6:17 pm
- Photos updated on:
- September 25, 2026 6:17 pm
- Last Modified:
- October 15, 2026 8:21 pm
- Courtesy of:
- RE/MAX Prestige Realty/Wellington
- Attribution:
- Not provided
- Street Name:
- CYPRESS
- Street Number:
- 305
- Unit Number:
- 1,2,3,4,5
- City:
- Lake Park
- State:
- Florida
- Zip Code:
- 33403
- County:
- Palm Beach
- Latitude:
- N26° 47' 41.4''
- Longitude:
- W81° 56' 27.9''
- Street Suffix:
- Drive
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Neighborhood Stats
Source: U.S. Census Bureau, ACS 5-Year Estimates
Ver la propiedad 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403
