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Multifamily in Ocean Ridge, FL 33435Palm Beach Shore Acres, 1 Tropical Dr
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OFF MARKET
$2,795,000
Beds
3,397
SqFt$823
$/SqFtMultifamily
Built in 1956
Outdoor Living Area
Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida. 8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. Complete Accordion Shutters. 100% occupied, annual leases. Some rents are below market. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity. Close to Downtown Delray beach, shopping, restaurants, and nightlife.
MLS Number: R11151426
On Site: 255 Days
Updated: 160 Days ago
Page Views: 0
Features
Bedrooms
Bathrooms
Exterior and Lot Features
- Exterior Features: OutdoorLivingArea
Interior, Heating and Cooling
- Heating Description: WallFurnace
- Cooling Description: CeilingFans, WallWindowUnits
Building and Construction
- Floor Description: Terrazzo,Tile
- Construction Type: Triplex
- Year Built: 1956
Waterfront and Water Access
- Waterfront Frontage: No info
School Information
Other Property Info
- Listing Date: 2026-01-04T19:00:00.000-00:00
Taxes, Fees & More
- Taxes: 21714
- Total Units in Building: 3
- Total Units in Complex: 8
Apples-to-Apples Comparables
Price History
Date
Event
Price
Change
Price Per
01/05/2026
Listed
$2.8M
$823 ft2
$8,856 m2
01/05/2026
$2.8M
Event
Listed
Price Per
$823 ft2
$8,856 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Joshua McDonald • Compass Florida LLC • Buyer Agency Compensation .
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Scores
36
100
49
100
74
100
0
100
32
100
0
100
Community Snapshot
2 – 3 BR
Bedrooms
$985K – $2.2M
Price Tier
576 - 5,749
SqFt Range
1960
Year Build
1
Total Floors
Ocean Ridge Ultra Luxury Ultra Luxury Homes & Condos
Palm Beach Shore Acres Communities in Ocean Ridge, FL
Entry-Level
Entry-Level 1
Inactive Segment
Inactive Segment 1
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