$1,250,000
4614 Gulfstream Road, Lake Worth FL 33461
12 days on market
- Bathrooms
- 0
- Living area
- 16,281 sqft
- Price per sqft
- $77
- Type
- Quadruplex
- Year built
- 1948
- Taxes
- $9,362/yr
- MLS #
- B26089883
About this home
Bring your vision to unincorporated Lake Worth! A compelling opportunity for investors, builders, and developers to acquire 1.83 acres in the heart of Lake Worth, Florida, with the potential for a 20-unit multifamily development. This property offers a head start for future development, with several key approvals previously secured, significantly advancing the preliminary planning process. Zoning, water utility, right-of-way, drainage, and Health Department permits have already been previously approved, providing a valuable foundation for the next phase of development. Completed building plans are also available and attached to the MLS, offering additional value and a head start for prospective developers. The proposed unit mix consists of 17 two-bedroom, two-bathroom units and 3 one-bedroom, one-bathroom units. Based on comparable rental rates, the projected rental income could reach approximately $44,500 per month, or $534,000 annually, assuming all 20 units are rented at the estimated market rates of $2,300 per month for the two-bedroom units and $1,800 per month for the one-bedroom units. These figures represent potential gross rental income before expenses, vacancy, and other operating costs. Ideal for investors seeking their next project, builders looking to expand their portfolio, or developers pursuing multifamily opportunities in a central Lake Worth location. With substantial preliminary work already completed, this property presents an opportunity to build on the progress made and explore its full development potential. Buyer to independently verify zoning, approvals, development feasibility, and all intended uses with the appropriate authorities. Seller is open to seller financing.
Estimated subtotal
$780/mo
- Principal and interestThe current market rate is not available right now. Enter the rate your lender quoted.
- Not included
- Property taxMLS 2025 annual tax, shown monthly
- $780
- HOANot in the MLS record
- Not included
The current market rate is not available right now. Enter the rate your lender quoted.
Estimate. Jumbo and investor loans are often priced differently; verify with your lender. Property tax is the seller's current bill and may be reassessed after purchase. Items marked Not included are not in this total.
Is this the right price?
We send written comps, the full cost of owning it and an offer strategy before you tour or offer.
The neighborhood
Lake Worth, 33461
Listing courtesy of RE/MAX Direct
Listing data provided by the Miami Association of Realtors MLS, deemed reliable but not guaranteed.