821 4th Avenue, Delray Beach, FL 33444

$650,000 — Active Under Contract

Property Features

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SHORT-SALE! PROFORMA 10-11% CAP RATE! Downtown Delray builder special! 16,030sf CORNER LOT (140ftx114ft). Great opportunity! New construction around! Existing singe-family home situated on enormous lot and features main house with 3br/2ba, garage and two additional efficiency/studio units. Potential options: 1) Redevelopment opportunity: build 1 or 2 homes; each house could have large 8,000sf+/- lots 2) Add/build ADU, 3) Combine house into large interior space to create one large home 4) Rehab & maintain same floor plan then rent out all 3 spaces; PROFORMA 10-11% CAP RATE! Excellent location near Swinton Ave; ~1 mile to the beach. Spacious yard. Walk to Swinton/Atlantic Ave, downtown! No HOA! Short-term rental potential! Located in Opportunity Zone and Delray Beach CRA District!

Property Details

  • Listing ID: R11011239
  • Status: Active Under Contract
  • Listing Date: 2024-08-09
  • Property Type: Unimproved Land
  • Subdivision: Town of Delray Beach / Downtown Delray Beach
  • County: Palm Beach
  • MLS Area: 4460
  • Bedrooms: 0
  • Full Bathrooms: 0
  • Living Area Sq Ft: N/A
  • Lot Dimensions: 140' x 114'

Financial

  • List Price: $650,000
  • HOA Fee: None
  • Taxes: $6,197/yr

Features & Amenities

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