18 S M St, Lake Worth, FL 33460

LAKE WORTH HISTORIC INVESTMENT! Listed for 759500

|6beds|6baths
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Downtown Lake Worth Historic Investment

Property Info
Status:Active
MLS #:RX-10657522
Price:LAKE WORTH HISTORIC INVESTMENT! Listed for 759500
Beds:6
Baths:6 Baths (6 F)
Type:Multi-Family
Size:3,923 ft²
Lot Size:6,750 ft²
Features
  • 6-7 Unit Multi-Family commercial property steps from Lake Avenue!!!
  • Use as a Single Family residence while you collect on 2, 3, or even 4 units!
  • Well maintained with room for added value and raised rent $$$
  • Less than 1 Mile walk to beach and just steps to shops & restaurants.
Remarks

Offering a choice of commercial, residential or income-producing property, this historic home is located in the heart of Lake Worth just one block from Lake Avenue and one mile from the beach. Use as a 6-7 unit multi-family investment property or as a single family home and rent additional units (numerous options available). Possible Airbnb potential with city changes in the works. Currently configured as 4 large 1/1 apts, 2 studios. New Roof. Finished 2-car garage with full bath and offers the possibility of additional conversion if permitted.

Property is listed as Commercial, Residential, Residential Income.. Owner has the CHOICE! 


Lake Worth has great beaches, a new fishing pier, historic buildings, and a revitalized downtown with an eclectic mix of antique stores, specialty shops, restaurants, art galleries, music venues and special events. One event not to be missed is the Lake Worth Street Painting Festival, where the asphalt becomes a canvas in a temporary, open-air museum. Other cultural activities center around the tree-shaded square on Lake and Lucerne Avenues. Golf is a favorite, too, at the Lake Worth Municipal Golf Course, one of the most scenic courses in The Palm Beaches, right on the Intracoastal Waterway and Lake Worth Lagoon.

General Information
Zoning:
CAC (city)/GENERAL COMMERCIAL DISTRICT
School District:
Palm Beach
Cross Street:
M Street
Annual Property Tax:
10,289.69
HOA Dues:
N/A
County:
Palm Beach
Building Details
Year Built:
1936
# of Stories:
2
Garage:
2
Commercial Details
Cap Rate:
33486
Annual Gross Income:
68,400
Zoning:
CAC (city)/GENERAL COMMERCIAL DISTRICT
Annual Operating Expense:
26,377
Annual Net Income:
42,023
# of Units:
6-7
Unit Rental Price Range:
1000-1200
Mortgage Calculator
Price:
Rate:
%
Down Payment:
%
Terms (in Years):
Monthly Payment:
Payment Estimator
Total:$759,50020% Down:$151,900Financing:$607,600
Jumbo 30 Yr Fixed*
3.05 %
(3.16% APR)
$2,578 / month

*Rates for October 2020. Information displayed is accurate as of the date of the latest update and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply. The Rate/APR and other terms may vary from those displayed based on the creditworthiness of the borrower, the type of dwelling, whether the borrower is self-employed, the location of the property and other factors. Please contact a lender in your area to determine what rates you qualify for.

**Rates calculated from national averages.  To determine rates in your area please contact your local lender.

Local Schools

School NameTypeDistanceGreatSchools Rating
Precious Promise Learning Center & Christian Aca
210 N. 'J' St., Lake Worth, FL 33460
(561) 540-4459
private
0.27 mi
Sacred Heart School
410 North M Street, Lake Worth, FL 33460
(561) 582-2242
private
0.4 mi
South Grade Elementary School
716 South K Street, Lake Worth, FL 33460
(561) 202-9400
public
0.59 mi
Classical Christian Academy of the Palm Beaches
128 North C Street, Lake Worth, FL 33460
(561) 469-9470
private
0.62 mi
Our Savior Lutheran School
1615 Lake Ave, Lake Worth, FL 33460
(561) 582-8624
private
0.7 mi
North Grade Elementary School
824 North K Street, Lake Worth, FL 33460
(561) 202-9300
public
0.74 mi
Lake Worth High School
1701 Lake Worth Road, Lake Worth, FL 33460
(561) 533-6300
public
0.82 mi
Lake Worth High Adult Education Center
1701 Lake Worth Road, Lake Worth, FL 33460
(561) 533-6363
public
0.82 mi
Precious Promise Learning Center & Christian Academy
1744 Lake Worth Road, Lake Worth, FL 33460
(561) 540-4459
private
0.85 mi
Highland Elementary School
500 Highland Avenue, Lake Worth, FL 33460
(561) 202-0500
public
0.92 mi
Academy For Positive Learning
1200 North Dixie Highway, Lake Worth, FL 33460
(561) 585-6104
charter
1.07 mi
Dibacco School
1119 Crestwood Blvd, Lake Worth, FL 33460
(561) 283-6796
private
1.19 mi
Unity For Kids
1325 North A Street, Lake Worth, FL 33460
(561) 578-8270
private
1.43 mi
The Elles School
1325 N A St, Lake Worth, FL 33460
(561) 588-1954
private
1.43 mi
South Area Secondary Intensive Transition Program
1509 Barton Road, Lake Worth, FL 33460
(561) 202-0600
public
1.57 mi
Barton Elementary School
1700 Barton Road, Lake Worth, FL 33460
(561) 540-9100
public
1.6 mi
Lake Worth Community Middle School
1300 Barnett Drive, Lake Worth, FL 33461
(561) 540-5500
public
1.61 mi
Northern Private School
1822 High Ridge Road, Lake Worth, FL 33461
(561) 585-4053
private
2.16 mi
Lantana Elementary School
710 West Ocean Avenue, Lantana, FL 33462
(561) 202-0300
public
2.2 mi
Palm Beach Maritime Academy
1518 West Lantana Road, Lantana, FL 33462
(561) 547-3775
charter
2.26 mi
Mavericks High School At Palm Springs
3525 South Congress Avenue, Palm Springs, FL 33461
(561) 623-6935
charter
2.36 mi
Palm Beach Maritime Academy High School
600 East Coast Avenue, Lantana, FL 33462
(561) 578-5700
charter
2.45 mi
Lantana Middle School
1225 West Drew Street, Lantana, FL 33462
(561) 540-3400
public
2.46 mi
Lantana Middle Adult Education Center
1225 West Drew Street, Lantana, FL 33462
(561) 533-6382
public
2.46 mi
St Luke School
2892 South Congress Avenue, Lake Worth, FL 33461
(561) 965-8190
private
2.47 mi
GreatSchools

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