About this home
Rare four-unit investment opportunity in the rapidly growing Lake Park market. This unique property features a main residence plus a triplex with three efficiency units, generating $82,200 in annual gross rental income with immediate cash flow. Ideally located just minutes from the Intracoastal Waterway, Singer Island beaches, marina, brewery, theater, pickleball, Publix, US-1, I-95, and Palm Beach International Airport. Per current zoning and permitting information, the property may accommodate up to 10 units (buyer to verify). The main house also offers potential to convert to a 3BR/2BA. Whether you're looking to renovate, add value, or hold for long-term income, this property offers exceptional upside in a high-demand rental market. Quiet street, easy to rent, & outstanding investment. All information pertaining to the property is deemed reliable, but not guaranteed. Information to be verified by the Buyer. Be advised that cameras may exist recording audio and video inside/outside the property, such as ring doorbells. Photos are digitally enhanced and could be altered, please verify.
Listing last checked: Listing updated:
Listed by Micah L Volmer · One Sotheby's International Realty · MLS #B26013374
Request property information
Select a document to start a request. You can add others in the form. Availability varies.
Details at a glance
Interior3 property facts
- Heating
- Wall Furnace
- Cooling
- Ceiling Fan(s), Wall/Window Unit(s)
- Flooring
- Clay, Tile
Building5 property facts
- Style
- Quadruplex
- Year built
- 1945
- Parking
- 4
- Foundation
- Concrete Perimeter, Raised, Slab
- Roof
- Composition, Flat, Shingle
Land & utilities4 property facts
- Lot size
- 0.14 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- R1 (city)
Financial2 property facts
- Annual taxes
- $11,413
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $750,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$4,743 / monthAdjust
- Principal & interest
- $3,792
- Property tax
- $951
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $11,413. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
Explore more of Lake Park
Continue your search in Lake Park.
Need help making sense of this home?
About 505 Foresteria Drive
Can I request a private showing?
Request a tour of 505 Foresteria Drive and a Bean Group agent will help coordinate an available time with the listing side.
Can you help me evaluate this property?
Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
Are property documents available?
Availability varies by property and source. Request the documents you need and we will help obtain what is available.