216 S L Street, Lake Worth Beach, FL 33460

Great Investment Opportunity in the Heart of Downtown Lake Worth Beach! Two blocks from the epicenter of town & less than a mile to our beautiful beaches! Charming exterior, spacious interior, attached apartment & a detached garage offers multiple avenues for potential income. Sold As-Is, furnished w/ recent updates including fresh paint, new landscaping, fence, deck, new lighting, spray insulation, Roof 2021 & A/C 2020. Water Heater 2017. Well-maintained 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. * Zoned for multi-family use (MF-20), the lot allows for up to three residential units! PREVIOUS RENTAL RATES 2023 * Front House was receiving $3,500 per month on an annual lease for the previous 2.5 years. * Apartment Income: $2,200 per month on an annual lease for the past 2.5 years. * Current rental rates vary and may not reflect the previous rental rates. Current ROI is 12% With adaptation of cottage as 3rd unit new owner ROI potential is 10% up to 14%