1601 NE 3rd Ave - Apartments FOR SALE


Delray Beach, FL 33444
$2,100,000 USD
561-568-7427
1601 NE 3rd Ave, Delray Beach, FL for Sale
$2,100,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

1601 NE 3rd Ave
Delray Beach, FL 33444


HIGHLIGHTS

  • Six existing residential units with value-add renovation potential.
  • Each residence features a two-bedroom, one-bathroom layout.
  • Located in East Delray Beach near Atlantic Avenue and the beachfront.
  • Convenient access to dining, shopping, entertainment, and Downtown Boynton Beach.
  • Potential opportunity for redevelopment, subject to zoning and municipal approvals.
  • Positioned in a highly sought-after South Florida coastal market.

OVERVIEW

Exceptional investment and redevelopment opportunity in a prime East Delray Beach location, just minutes from Atlantic Avenue, the beach, dining, shopping and entertainment, also with convenient access to Downtown Boynton Beach. Currently configured as a six-unit multifamily property, each residence offers 2 bedrooms, 1 bathroom and approximately 780 square feet each. Renovate and reposition the existing units as an income-producing asset, or explore the potential for redevelopment into a single-family residence or alternative use, such as a wellness-oriented concept, subject to zoning and municipal approvals. With multiple possibilities and an irreplaceable location, this is a rare opportunity to bring a new vision to one of South Florida's most desirable coastal areas.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$408 USD /SF

# OF UNITS

6

PRICE/UNIT

$350,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

R-1-A

APN/PARCEL ID

12-43-46-09-19-000-1081

ASK ABOUT THIS PROPERTY

Abbey AdairCENTURY 21 Realty ProfessionalsMore Info
561-568-7427

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Abbey AdairCENTURY 21 Realty ProfessionalsMore Info
561-568-7427

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.