Bought with KW Reserve Palm Beach
$352,000
$356,500
1.3%For more information regarding the value of a property, please contact us for a free consultation.
5314 Lake AVE West Palm Beach, FL 33405
2 Beds
1 Bath
672 SqFt
Key Details
Sold Price $352,000
Property Type Single Family Home
Sub Type Single Family Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 672 sqft
Price per Sqft $523
Subdivision Southerly Hill
MLS Listing ID RX-10814271
Sold Date 10/31/22
Bedrooms 2
Full Baths 1
Construction Status Resale
HOA Y/N No
Year Built 1947
Annual Tax Amount $5,586
Tax Year 2021
Lot Size 5,225 Sqft
Property Description
Great investment or starter home for anyone looking to create a passive stream of income. Priced below market value, so new owners will immediately have equity (home appraised at 369k). This property offers the opportunity to convert the detached structure into a rental property, office space, mother-in-law suite... the possibilities depend on your creativity. Potential earnings are estimated around $3000/month and above (ask me how). That's potentially around $36k a year and a cap rate of 7%!!Brand new solar panels installed 2022, electricity bill historically as low as $70/month for both properties and comes with 25 year warranty. New A/C unit installed in 2019!! Sprinkler System on Well - overall saving you tons of $$$ on your overhead!!! The main home is a 2 bedroom 1 bath featuring.
Location
State FL
County Palm Beach
Area 5430
Zoning SF7(ci
Rooms
Other Rooms Laundry-Inside, Storage
Master Bath None
Interior
Interior Features Stack Bedrooms
Heating Central, Electric, Solar
Cooling Central, Electric
Flooring Laminate, Tile
Furnishings Unfurnished
Exterior
Exterior Feature Auto Sprinkler, Fence, Fruit Tree(s), Open Patio, Open Porch, Room for Pool, Shed, Shutters, Solar Panels
Parking Features Carport - Attached, Street
Community Features Sold As-Is
Utilities Available Electric, Public Sewer, Public Water
Amenities Available Sidewalks
Waterfront Description None
Roof Type Comp Shingle
Present Use Sold As-Is
Exposure West
Private Pool No
Building
Lot Description < 1/4 Acre
Story 1.00
Foundation Aluminum Siding, Block
Construction Status Resale
Schools
Elementary Schools Palmetto Elementary School
Middle Schools Conniston Middle School
High Schools Forest Hill Community High School
Others
Pets Allowed Yes
Senior Community No Hopa
Restrictions None
Acceptable Financing Cash, Conventional, FHA
Horse Property No
Membership Fee Required No
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Pets Allowed No Restrictions
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