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540 W 1st Street

Riviera Beach, FL 33404
  • $424,000
  • STATUS: Active
  • ON SITE: 68 Days
  • ID#: RX-11023483
UPDATED: 69 min ago
$424,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,240
    SQFT
  • $342
    $/SQFT
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Description

**Excellent Investment Opportunity!** Discover this income-generating property featuring **two separate buildings** Prime location with tremendous growth potential: - **Front Building:** 2 bed, 1 bath, currently rented at **$1,850/month until 9/30/25**. **New A/C and ducts installed in October 2024.** - **Rear Building:1 bed, 1 bath, rented at $1,350/month until **February 2025**. Both buildings are freshly painted, with roofs in great condition. **Roofs were replaced in 2014 and 2017.** **Market Rent Potential:** - 2 bed, 1 bath: **$2,000/month** - 1 bed, 1 bath: **$1,600/month** Located just steps from a **public marina and boat ramp** across from Peanut Island, this property is in a high-demand area.

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www.evluxuryrealestate.com/homes/155732441
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540 W 1st Street Riviera Beach, FL 33404

  • Price: $424,000
  • Status: Active
  • On Site: 68 Days
  • Updated: 69 min ago
  • ID#: RX-11023483
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1,240
SQFT
$342
$/SQFT
1959
Built
Neighborhood:
Riviera Beach Heights Add 4
County:
Palm Beach
Area:
Riviera Beach
Property Description
**Excellent Investment Opportunity!** Discover this income-generating property featuring **two separate buildings** Prime location with tremendous growth potential: - **Front Building:** 2 bed, 1 bath, currently rented at **$1,850/month until 9/30/25**. **New A/C and ducts installed in October 2024.** - **Rear Building:1 bed, 1 bath, rented at $1,350/month until **February 2025**. Both buildings are freshly painted, with roofs in great condition. **Roofs were replaced in 2014 and 2017.** **Market Rent Potential:** - 2 bed, 1 bath: **$2,000/month** - 1 bed, 1 bath: **$1,600/month** Located just steps from a **public marina and boat ramp** across from Peanut Island, this property is in a high-demand area.
Exterior Features

Carport Spaces 0.00 Construction CBS Exterior Features None Lot Description < 1/4 Acre Private Pool YN No Roof Comp Shingle Unit1 Parking Space Parking Unit2 Parking Space Parking Waterfront Description None Waterfront YN No

Interior Features

Cooling Ceiling FanWall-Win A/C Flooring Ceramic Tile Heating Electric Unit1 Bedrooms 2 Unit1 Desc A/C Unit Unit1 Full Baths 1 Unit1 Furnished No Unit1 Sq Ft 858 Unit2 Bedrooms 1 Unit2 Desc A/C Unit Unit2 Full Baths 1 Unit2 Furnished No Unit2 Sq Ft 625

Property Features

Annual Net Operating Income 30400.00 Annual Total Expenses 8000.00 Auction No Available Info DepositDeposit SecurityLeases Built Desc Resale Gated Community No Gross Operating Income 38400.00 Hoa Fee Per Month 0.00 Homeowners Association None HOPA No Hopa List Office Board Code Realtor Association of the Palm Beaches (RAPB) Multifamily Type Duplex Possession Funding REO No Restrictions Buyer ApprovalOther Separate Electric Meters Yes Separate Water Meters Yes Short Sale No Short Sale Addendum No Short Sale AU N/A Source Of Expenses Other Sq Ft Total 1338.00 Subdivision Amenities None Tax Amount 3994.35 Tax Year 2023 Taxes No Homestead Tenant Pays CableElectric Terms Considered CashConventionalFHA Unit1 Lease Ends 2025-09-30 Unit1 Monthly Income 1850.00 Unit2 Lease Ends 2025-02-28 Unit2 Monthly Income 1350.00 Utilities CableElectric Zoning RS-8(c

Listing provided courtesy of The Keyes Company: 561-577-0398. Listing information © 2024 BeachesMLS
 
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Thomas Kane | TrustLarry Real Estate
3111 Bayview Drive
Fort Lauderdale FL, 33306