Basic Information
- MLS # B26080606
- Type Condominium
- Status Active
- Subdivision/Complex Kelsey City
- Year Built 1928
- Total Sqft 2,504
- Date Listed 09/25/2026
- Days on Market 30
INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.
Exterior Features
- Waterfront No
- Parking Spaces 0
- Pool No
- Construction Type Frame, Stucco
- Parking Description
- Exterior Features Courtyard
- Roof Description Composition, Flat, Shingle, Tile
- Style Condominium
Interior Features
- Adjusted Sqft 2,504Sq.Ft
- Cooling Description Central Air
- Floor Description Tile
- Heating Description Central
- Sqft 2,504Sq.Ft
Property Features
- Address 305 Cypress Dr #1,2,3,4,5
- Aprox. Lot Size 12,595
- Architectural Style Two Story, Fourplex
- City Lake Park
- Construction Materials Frame, Stucco
- County Palm Beach
- Furnished Info no
- Levels Two
- Listing Terms Cash, Conventional, Exchange1031, Va Loan
- Lot Features Less Than One Acre, Quarter To Half Acre Lot
- Pets Allowed No
- Pool Features None
- Possession Close Of Escrow
- Postal City Lake Park
- Public Survey Section Two
- Public Survey Township 36
- Roof Composition, Flat, Shingle, Tile
- Sewer Description Public Sewer
- Stories 2
- Subdivision Complex
- Subdivision Info Kelsey City
- Tax Amount $16,955
- Tax Legal desc KELSEY CITY LTS 44 TO 46 INC BLK 69
- Tax Year 2025
- Terms Considered Cash, Conventional, Exchange1031, Va Loan
- Type of Property Condominium
- Water Source Public
- Window Features Impact Glass
- Year Built Details Resale
305 Cypress Dr #1,2,3,4,5
Lake Park, FL 33403Similar Properties ForSale
The multiple listing information is provided by the ® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 -present ®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of : RE/MAX Prestige Realty/Wellington
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