Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to bring to market Lake Worth Beach Flats, a two-property portfolio in the highly sought-after submarket of Lake Worth Beach, Florida. 301 South M St is a two-story five-unit apartment building that is currently operating as a six-unit property. The building consists of four (4) two-bedrooms / one-bath units and two (2) studio units. 1625 South Federal Hwy has two, one-story duplexes consisting of one (4) one-bedroom / one-bath units. The two properties both sit on their own parcel (38-43-44-21-15-111-0170, 38-43-44-34-04-000-0140) totaling .46 acres. 301 S M St was built in 1925 with Wood Frame Construction and 1625 S Federal was built in 1950 with CBS construction. Both properties were built with General Electric panels, have been redone with PVC piping, and are equipped with central air conditioning and/or mini splits. 301 has a gas tankless water heater for the building and a gas stove in the three of the 2-bed units. Each unit is separately metered for electricity, owner pays for water. 301 S M St sits one block west of Federal Hwy and just three blocks from Lake Avenue, offering incredible access to all the local boutique shops, restaurants, and coffee shops that downtown Lake Worth Beach has to offer. 1625 S Federal Hwy is located less than a mile north of East Ocean Avenue in Lantana, offering easy access to the local retail and restaurants as well. The Lake Worth Beach Flats provides an investor an opportunity to purchase two stabilized cash-flowing, exceptionally well-located multifamily assets in the quickly growing city of Lake Worth Beach.