Investment Overview

Marcus & Millichap is pleased to present Lucerne Apartments, a 14-unit multifamily property located at 202 Lucerne Avenue, Lake Worth Beach, Florida. Built in 1974, the property features concrete block construction with a stucco exterior and is comprised of thirteen one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. All units feature central air conditioning, and the property includes an on-site laundry facility. Currently operated as annual rentals, the asset also retains a transitory license, allowing the flexibility to convert all 14 units to short-term rentals—offering investors significant potential to increase revenue. Ideally situated in the heart of downtown Lake Worth Beach, Lucerne Apartments sits just north of Lake Avenue, steps from the city’s vibrant dining, retail, and entertainment corridor. The property benefits from close proximity to City Hall, Lake Worth High School, JFK Medical Center, the Intracoastal Waterway, Lake Worth Beach Park, and the Lake Worth Golf Club. Ongoing redevelopment and mixed-use projects throughout downtown continue to enhance the area’s appeal and strengthen long-term investment fundamentals. Lucerne Apartments represents a compelling opportunity to acquire a stabilized, income-producing asset in one of Palm Beach County’s most walkable and dynamic downtown submarkets. With in-place cash flow, short-term rental flexibility, on-site laundry, and strong underlying demand supported by steady population and economic growth, the property offers both secure returns and meaningful value-add upside.