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Alex Mendel

alex@mendelgroupfl.com +1(561) 827-8449

Listed by Compass Florida LLC

$ 2,795,000

Est. payment -/mo

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Active

1 Tropical DR Ocean Ridge, FL 33435

8 Baths

4,310 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type MultiFamily (5+ Units)

Listing Status Active

Purchase Type For Sale

Square Footage 4,310 sqft

Price per Sqft $648

Subdivision Palm Beach Shore Acres

MLS Listing ID RX-11142310

Construction Status Resale

Year Built 1956

Annual Tax Amount $21,714

Tax Year 2025

Lot Size 0.300 Acres

Property Sub-Type MultiFamily (5+ Units)

Property Description

Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida.8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. Complete Accordion Shutters.100% occupied, annual leases. Some rents are below market. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity.Close to Downtown Delray beach, shopping, restaurants, and nightlife.

Location

State FL

County Palm Beach

Area 4120

Zoning RMM(ci

Interior

Heating Window/Wall

Cooling Ceiling Fan, Wall-Win A/C

Flooring Terrazzo Floor, Tile

Fireplaces Type Smoke Alarm, Smoke Detector

Exterior

Utilities Available Cable, Electric, Generator, Public Sewer, Public Water

Roof Type Concrete Tile,Tar/Gravel

Building

Story 100.00

Foundation CBS

Construction Status Resale

Others

Miscellaneous Laundry

Acceptable Financing Cash, Exchange

Listing Terms Cash, Exchange

Financing Cash,Exchange

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Alex Mendel

Agent

+1(561) 827-8449

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Alex Mendel

1 Tropical DR Ocean Ridge, FL 33435

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