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For sale
  • Price increase: $440K (7/31)
    $890,000

    461 Silver Beach Road #1, Riviera Beach, FL 33403

    8beds
    3,360sqft
    : 
    Multi Family
    Built in 1964
    -- sqft lot
    $443,000 Zestimate®
    $265/sqft
    $-- HOA

    What's special

    Two bedroomsOne bathroom
    **NEW ROOF's Aug 2025****New Water Heaters**This investment opportunity features two side-by-side duplexes in the rapidly growing Riviera Beach area. 2 Duplexes being sold together.461 silver beach Parcel # 56434228350410020MLS#: RX-11068125 &451 silver beach parcel # 56434228350410030MLS#: RX-11068096. A total of four income-producing units with existing tenants and significant upside potential through rental increases.** Two Adjacent Duplexes being sold together. (Four Units Total) ($225,000 per door) Each unit features two bedrooms and one bathroom with washer/Dryer Hookups -Each unit is separately metered electric.High Rental Demand area with strong appreciation potential. *(market rents $2,000 per unit)*Current Lease Details below: **Unit 1: 2 bed 1 bath -lease expires 5/25 - $1,800 per month **Unit 2: 2 bed 1 bath -lease expires 1/26 - $1,700 per month **Unit 3: 2 bed 1 bath - Vacant **Unit 4: 2 bed 1 bath - lease expires 2/26 -$1,800 per month. Immediate UpsideOne vacant unit ready to lease at full market rent Below-Market Rents: Current leases provide opportunity to increase rents to market rates upon renewal Projected Gross Rental Income: If all units are rented at market rates, estimated gross income could reach $7,600 to $8,000 per month Separate Meters: Tenants pay their own utilities, reducing landlord expenses Long-Term Leases: Leases secured through 2025 and 2026, ensuring stable cash flow High Occupancy and Demand: Riviera Beach remains a competitive rental market with increasing property values Why Invest in Riviera Beach? Riviera Beach is experiencing major redevelopment, making it a prime location for real estate investment. Local improvements include: Riviera Beach Marina Redevelopment, a multimillion-dollar waterfront revitalization increasing property values Expansion of luxury residential and mixed-use developments, strengthening rental demand New infrastructure projects, including road expansions and commercial growth Close proximity to Singer Island, Palm Beach Gardens, and Downtown West Palm Beach Ideal for Investors Looking For: Turnkey Cash Flow Opportunity: Fully leased units with immediate potential for rental increases Strong Market Appreciation: Rapidly growing area with long-term value potential 1031 Exchange Investment: Excellent opportunity for reinvestment and tax benefits
    160 days
    on Zillow
    |
    182
    |
    22
    |

    Zillow last checked: 7 hours ago

    Listing updated: 13 hours ago

    Listed by:

    Michael J Johnston 561-577-0398,

    The Keyes Company,

    Maby Cuevas 786-251-8462,

    The Keyes Company

    Source: BeachesMLS,MLS#: RX-11068125MLS LogoOriginating MLS: Beaches MLS
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 461 Silver Beach Road #1.

    Next available tour time:Tomorrow at 9am

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 4
    • Full bathrooms: 4
    Heating
    • Window/Wall
    Cooling
    • Wall/Window Unit(s), A/C Unit
    Appliances
    • Included: Refrigerator
    • Laundry: W/D Hookup
    Features
    • Flooring: Terrazzo
    Interior area
    • Total structure area: 3,876
    • Total interior livable area: 3,360 sqft
    Video & virtual tour

    Property

    Parking
    • Parking features: Open, Open Parking
    • Has uncovered spaces: Yes
    Features
    • Stories: 1
    • Patio & porch: Covered Patio
    • Waterfront features: None
    Lot
    • Size: 8,050 Square Feet
    • Features: < 1/4 Acre
    Details
    • Parcel number: Parcel # 56434228350410020
    • Zoning: RD-15(

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Materials
    • CBS
    • Roof: Comp Shingle
    Condition
    • Resale
    • New construction: No
    • Year built: 1964

    Utilities & green energy

    • Electric: Separate Electrical Meters
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Connected

    Community & HOA

    Community
    • Features: Ball Field, Boating, Park, Play Area, Playground, Sidewalks, Street Lights
    • Subdivision: Park Manor 6
    Location
    • Region: Riviera Beach

    Financial & listing details

    • Price per square foot: $265/sqft
    • Tax assessed value: $291,668
    • Annual tax amount: $5,704
    • Date on market: 3/4/2025
    • Listing terms: Cash,Conventional
    • Tenant pays: Cable TV, Electricity
    • Electric utility on property: Yes
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