Multifamily in Lake Worth, FL 33462

Tropical Terrace, 7871 Terrace Rd

This partially renovated duplex presents a compelling investment opportunity with immediate rental income and long-term development potential. Constructed of durable CBS, the property features a newer roof installed in 2024 and is zoned multi-family medium density, allowing for up to five units. What appears to be a vacant lot next door is actually part of the property, offering additional land for future expansion or redevelopment. One unit has been moderately renovated with updates that include laminate flooring and appliances. The second unit has been fully renovated and professionally staged. It features updated kitchen cabinetry with a snack bar and is currently operating as a successful short-term rental, creating an attractive opportunity for diversified income streams. The property is equipped with two separate electric meters and one water meter, supporting ease of management for multiple units. With its combination of current cash flow, recent improvements, flexible zoning, and additional land, this duplex is well-suited for investors seeking both immediate returns and future development upside in a highly visible area close to beaches, PBIA and extensive dining and entertainment opportunities within minutes.