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305 CYPRESS Drive Unit 1,2,3,4,5, Lake Park
$1,280,000
B26080606 MLS
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.

305 CYPRESS Drive Unit 1,2,3,4,5, Lake Park

640 W ILEX Drive, Lake Park
$545,000
4 Beds ⋅ 3 Baths ⋅ B26062937 MLS
Welcome to one of Lake Park's most desirable and exciting neighborhoods — Kelsey City, a true hidden gem where Lifestyle, Location, Opportunity, Charm, and future potential come together. This beautifully renovated home offers the freedom and flexibility that today's buyers are looking for. No HOA means no restrictive association rules, giving you the freedom to bring your boat, RV, and other toys and truly enjoy your property. Located just minutes from the beautiful beaches, Singer Island, restaurants, shopping, entertainment, and everything the Palm Beaches have to offer, this is South Florida living at its best. The home emphasizes, newer flooring, an updated electrical panel in 2023, newer impact windows and doors and an air-conditioning system installed in 2021. New salt water chlorination with a new automatic vacuum cleaner '25, new irrigation system '25, One of the home's most unique features are: Open Floor plan emphasizing 4 bedrooms, 2.5 bath, the converted garage, now offering a versatile fourth bedroom or private living space with 2 separate entrances — one from the side of the home and another from inside the house — this space can easily serve as a guest suite, in-law quarters, teenage retreat, home office, or additional living area, depending on your needs. Step outside and discover your own private oasis. The backyard features a beautiful swimming pool and a spacious porch enclosure, creating the perfect setting for entertaining, relaxing, and enjoying the Florida lifestyle. The property has been exceptionally well maintained and is truly move-in ready. And then there is Kelsey City itself. This is a neighborhood experiencing tremendous renewed interest, with homeowners renovating and transforming many of these classic homes. The community has become a special niche for buyers who recognize the incredible combination of location, character, affordability, and long-term potential. As a resident of Kelsey City myself, I have a unique perspective on what makes this area so special. I see firsthand the pride of ownership throughout the neighborhood and the continued interest in improving these homes. With the exciting projects and development planned in the surrounding Riviera Beach and Lake Park areas, many residents are watching closely as the community continues to evolve and property values have the potential to benefit over the coming years. This isn't simply a home — it's an opportunity to own a piece of a neighborhood that is being rediscovered and revitalized. If you've been looking for a home with no HOA, room for a boat or RV, a pool, flexible living space, beautiful renovations, and an outstanding location close to the beaches and everything the Palm Beaches have to offer, this Kelsey City home deserves your attention. Come see why those of us who live here believe Kelsey City is one of the most special places to call home.

640 W ILEX Drive, Lake Park

224 Greenbriar Drive, Lake Park
$500,000
2 Beds ⋅ 2 Baths ⋅ R11073919 MLS
Renovated and move-in ready, this pool home is bursting with charm and character! Just 1.5 blocks from the Intracoastal-front Kelsey Park, it features a designer's touch with a stunning open-concept eat-in kitchen, a large island overlooking a spacious living area, and a flexible dining or sunroom surrounded by windows leading to a screened-in patio. The fenced backyard boasts a large pool and patio, perfect for outdoor enjoyment. Both bedrooms and bathrooms showcase vibrant designs and clean lines. Additional highlights include a screened-in carport ideal for a hobby shop or game room, solar panels for minimal electricity costs, and accordion shutters for storm protection. Located on a friendly street with sidewalks, you're walking distance from restaurants, shops, and parks. More... What is Kelsey Park? Kelsey Park is a waterfront haven offering picturesque views of the Intracoastal Waterway, picnic areas, tennis courts, pickleball courts, and a playground. The park serves as a beloved community gathering spot, perfect for morning jogs, afternoon picnics, or evening sunsets. What other things are there to do in Lake Park? Within walking distance from 224 Greenbriar Dr, you'll find beloved local restaurants like Pelican Café, Southern Kitchen, Park Avenue BBQ, and Papa Kwesi's African Cuisine. Enjoy a stroll to the charming Lake Park Arts District, home to Kelsey City Brewing Co., the Kelsey Theater (a hub for live music and performances), and unique local shops and art galleries. There are frequent events like food truck nights, craft fairs, and cultural celebrations that give the neighborhood a vibrant, creative energy. What are the new developments happening in Lake Park? The town of Lake Park is undergoing exciting developments that are enhancing its appeal. The Nautilus 220 project, a luxury waterfront development featuring two 24-story towers with 330 residences, is set to redefine upscale living in the area. Plans include renovating the Lake Park Marina and adding a scenic boardwalk stretching to Kelsey Park, connecting residents and visitors to the new restaurants, green spaces, and cultural attractions. Just blocks from the home, neighboring North Palm Beach is also planning a new town center with dining, shopping, and walkable streetscapesadding even more value to this already incredible location!

224 Greenbriar Drive, Lake Park

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