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Ocean Ridge,FL 33435
Key Details
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Active
Purchase Type For Sale
Square Footage 4,310 sqft
Price per Sqft $648
Subdivision Palm Beach Shore Acres
MLS Listing ID RX-11142310
Year Built 1956
Annual Tax Amount $21,714
Tax Year 2025
Lot Size 0.300 Acres
Property Sub-Type MultiFamily (5+ Units)
Property Description
Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida.8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. Whole building generator. Complete Accordion Shutters.100% occupied, annual leases. Some rents are lower than market due to the lease length of time. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity.
Location
State FL
County Palm Beach
Area 4120
Zoning RMM(ci
Interior
Heating Window/Wall
Cooling Ceiling Fan,Wall-Win A/C
Flooring Terrazzo Floor,Tile
Fireplaces Type Smoke Alarm,Smoke Detector
Exterior
Utilities Available Cable,Electric,Generator,Public Sewer,Public Water
Roof Type Concrete Tile,Tar/Gravel
Building
Story 100.00
Foundation CBS
Others
Acceptable Financing Cash,Exchange
Listing Terms Cash,Exchange
Virtual Tour https://www.propertypanorama.com/1-Tropical-Drive-Ocean-Ridge-FL-33435/unbranded