House in West Palm Beach, FL 33407Northwood Harbor, 513 47th St
Share
Closed
$499,000
8
Beds5
Baths2,625
SqFtStatus
Sold - Dec 08, 2023
Parking
No info
Size
2,625 SqFt (244 m2)
Price
$190/SqFt ($2,046/m2)
Type
House
Built
1942
MLS Number
R10929351
On Site
1059 Days
Updated
75 Days ago
Page Views
0
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. The renovated property can generate $7,700 a month. That's a 10% CAP rate!
Unit #1 650 SF 2/1 $1,700
Unit #2 650 SF 2/1 $1,700
Unit #3 650 SF 2/1 $1,700
Unit #4 275 SF Studio $1,200
Unit #5 400 SF 1/1 $1,400 Property currently classified as 4 units on PAPA. Buyer responsible for working with the city to convert to 5 units.
Features
Bedrooms
- Bedrooms: 8
Bathrooms
- Bathrooms: 5
- Half Bathrooms: No info
Exterior and Lot Features
Interior, Heating and Cooling
- Interior Features: MainLevelPrimary
- Heating Description: None
- Cooling Description: None
Building and Construction
- Floor Description: Other
- Year Built: 1942
- Style: Other
Waterfront and Water Access
- Waterfront Frontage: No info
School Information
Other Property Info
- Garage: No info
- Listing Date: 2023-10-20T15:33:58.000-00:00
- Directions: South
- Pets Allowed: Yes
Taxes, Fees & More
- Taxes: 7238.12
- Total Floors in Building: 2
- Total Units in Complex: 5
Apples-to-Apples Comparables
Price History
Current
$499K
High
$499K
Low
$499K
Total Change
0%Date
Event
Price
Change
Price Per
06/30/2026
Sold
$499K
0%$190 ft2
$2,046 m2
12/08/2023
Price Reduced
$499K
0%$190 ft2
$2,046 m2
10/20/2023
Listed
$499K
$190 ft2
$2,046 m2
06/30/2026
$499K
Event
Sold
Change
0%Price Per
$190 ft2
$2,046 m2
12/08/2023
$499K
Event
Price Reduced
Change
0%Price Per
$190 ft2
$2,046 m2
10/20/2023
$499K
Event
Listed
Price Per
$190 ft2
$2,046 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Jennifer Kilpatrick • The Corcoran Group • Buyer Agency Compensation .
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Scores
48
100
32
100
63
100
76
100
0
100
30
100
1
100
Community Snapshot
2 – 6 BR
Bedrooms
$449K – $1.8M
Price Tier
567 - 3,365
SqFt Range
1949
Year Build
1
Total Floors
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Northwood Harbor Communities in West Palm Beach, FL
Mid-Tier
Mid-Tier 1
Entry-Level
Entry-Level 1
Inactive Segment
Inactive Segment 1
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