House in West Palm Beach, FL 33405

Southerly Hill, 5314 Lake Ave

Great investment or starter home for anyone looking to create a passive stream of income. Priced below market value, so new owners will immediately have equity (home appraised at 369k). This property offers the opportunity to convert the detached structure into a rental property, office space, mother-in-law suite... the possibilities depend on your creativity. Potential earnings are estimated around $3000/month and above (ask me how). That's potentially around $36k a year and a cap rate of 7%!! Brand new solar panels installed 2022, electricity bill historically as low as $70/month for both properties and comes with 25 year warranty. New A/C unit installed in 2019!! Sprinkler System on Well - overall saving you tons of $$$ on your overhead!!! The main home is a 2 bedroom 1 bath featuring. The main home is a 2 bedroom 1 bath featuring a huge private fenced yard with spacious covered patio and outdoor kitchen. Freshly painted inside and out, new and beautiful sod and landscape boasting 2 avocado, 2 mango trees, and space for a pool/RV/Boat! Complete set of Hurricane Panels for home included. 1 year transferable termite bond also included!! Minutes from intercoastal, Beaches, City Place, Downtown West Palm Beach, Palm Beach Intl Airport, shopping, restaurants, estate sales, and local attractions!! Just as charming as it appears in photos yet more impressive in person, you definitely don't want to miss your opportunity to see this home!