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    173 SE 5th Avenue

    Delray Beach, FL 33483
    • $2,499,000
    • STATUS: Active
    • ON SITE: 42 days
    • ID#: RX-10686249
    UPDATED: 67 min ago
    $2,499,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Delray Town Of
    Type:
    Commercial
    Built:
    1946
    County:
    Palm Beach
    Area:
    Delray Beach

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    Description

    Prime real estate opportunity right in downtown Delray Beach and Atlantic Avenue! Best/most liberal zoning Central Business District (CBD) which allows for Hotels, Retail, and Office! This property has enormous potential for conversion to a Boutique Hotel, The property consists of two buildings, nine units in total. (161/173 SE 5th) The Total monthly gross income is $12,050/mo. Fully rented, updated kitchens, large one-bedrooms, and studios, tons of parking in front & back of the building, & coin-operated laundry. Back alley for parking, entry to the building, and trash. Beautiful courtyard next to the buildings. Partial hurricane shutters. One water meter for each building and separate electric meters for each unit. In the heart of Delray Beach development.Right between two brand new hotels (aloft & Courtyard by Marriott Delray Beach), retail and iPic movie theater! Don't miss out on this rare opportunity to own a piece of Delray Beach! 161 SE 5th Available for sale separately for $1,100,000. 173 SE 5th only sold as part of both buildings at $2,499,000

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    www.poshflorida.com/homes/113470139
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    173 SE 5th Avenue Delray Beach, FL 33483

    • Price: $2,499,000
    • Status: Active
    • Updated: 67 min ago
    • ID#: RX-10686249
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    1946
    Built
    Neighborhood:
    Delray Town Of
    County:
    Palm Beach
    Area:
    Delray Beach
    Property Description
    Prime real estate opportunity right in downtown Delray Beach and Atlantic Avenue! Best/most liberal zoning Central Business District (CBD) which allows for Hotels, Retail, and Office! This property has enormous potential for conversion to a Boutique Hotel, The property consists of two buildings, nine units in total. (161/173 SE 5th) The Total monthly gross income is $12,050/mo. Fully rented, updated kitchens, large one-bedrooms, and studios, tons of parking in front & back of the building, & coin-operated laundry. Back alley for parking, entry to the building, and trash. Beautiful courtyard next to the buildings. Partial hurricane shutters. One water meter for each building and separate electric meters for each unit. In the heart of Delray Beach development.Right between two brand new hotels (aloft & Courtyard by Marriott Delray Beach), retail and iPic movie theater! Don't miss out on this rare opportunity to own a piece of Delray Beach! 161 SE 5th Available for sale separately for $1,100,000. 173 SE 5th only sold as part of both buildings at $2,499,000
    Exterior Features

    Construction Cbs Roof Comp RolledComp Shingle Waterfront YN No

    Interior Features

    Bath Toilets 9.00 Ceiling ExposedHeight Varies Ceiling Height 8 Cooling Wall-Win A/C Flooring Tile Heating No Heat Miscellaneous1 FencedLaundry Percent Air Conditioned 100.00 Unit1 Full Baths 5 Unit1 Unit Desc 1 Bedroom Unit2 Full Baths 4 Unit2 Unit Desc Efficiency

    Property Features

    Available Docs None Available Info Photos Built Desc Resale Expenses Total Expenses 44687.00 Fire Protection Smoke Alarm For Lease No For Sale Yes Lease None List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Location Central Business Dst Meters 11.00 Possession At ClosingFunding Sale Includes Building And Land Tax Amount Real Estate Taxes 34726.80 Tax Year 2020 Tenant Pays CableElectric Tenants 9 Terms Considered CashConventional Type Of Building IncomeResident. Multi-Fam. Unit1 Ann Rent 84000.00 Unit1 Rent Period Month Unit1 Units 5 Unit2 Ann Rent 57600.00 Unit2 Rent Period Month Unit2 Units 5 Use Income Utilities Public Water

    Listing provided courtesy of Posh Properties. Listing information © 2021 BeachesMLS
     
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    Posh Properties
    103 NE 2nd Ave.
    Delray Beach FL, 33444