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0 Baths
2,504 sqft

$1,280,000

305 CYPRESS Drive 1,2,3,4,5, Lake Park FL, 33403

Price per sqft$511.18
Built in1928
Property size2,504 sqft
Property typeMulti-family

Overview

Active

Listed Sep 25, 2026

Updated 10h ago

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.

$8,516/mo

Est. mortgage payment based on a $1,280,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Other Property Details

Taxes
$16,955
Tax Frequency
Annually
View
Yes
Pets Allowed
Yes
55+/Senior Community
No

Listed with RE/MAX Prestige Realty/Wellington

All listings featuring the BMLS logo are provided by Association of Palm Beaches. This information is not verified for authenticity or accuracy and is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by MLS.

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Data last updated 5:03 AM UTC, 10/8/2026

 

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