216 S L Street, Lake Worth Beach, FL 33460

Great Investment Opportunity in the Heart of Downtown Lake Worth Beach! 2 blocks from the epicenter of town & less than a mile to our beautiful beaches! Charming exterior, spacious interior, separate apartment, & convertible garage/cottage offers multiple avenues for use & rental income. Offered furnished. Recent updates include: fresh paint, new landscaping, fence, deck, new lighting, spray insulation, Roof 2020 & A/C 2019. Well-maintained Multifamily property. MF-20 Zoning allows for multiple dwelling structures on the lot. To further increasing returns. Flexibility & financial opportunity in the most desired area of LWB! See Supplement. This small beach town just woke up! And it is HOT! Just a few blocks to the center of town, only 5-min to our local beach & a short drive to downtown West Palm & Delray Beach. Known for its evolving Art Scene, downtown Lake Worth Beach is on fire! Enjoy weekly events that include festivals, live music, parades, sidewalk painting, green markets and more! LWB will throw a party for almost any celebration! Being one of Palm Beach County's historic beach towns, the beaches here are stunning! Offering waterfront dining, family friendly atmosphere, crystal blue waters & soft sandy beaches for miles are just some of the attractions you will experience living in this quaint beach town! * Zoned for multi-family use (MF-20), the lot allows for up to three residential units! PREVIOUS RENTAL RATES * Front House was receiving $3,500 per month on an annual lease for the past 2.5 years. * Apartment was receiving $2,200 per month on an annual lease for the past 2.5 years. * Current rental rates vary and may not reflect the previous years rental rates. Current ROI is 12% With adaptation of cottage as 3rd unit new owner ROI potential is 10% up to 14%