NOT LISTED FOR SALE

Estimated Value: $1,120,000 - $1,383,986

8 Beds
4 Baths
2,652 Sq Ft
$477/Sq Ft Est. Value

Last Sold December 07, 2023

Last sale price $1,350,000 $509 Per Sq Ft

Est. 6% decrease in value since last sale

Current estimated payment $9,069/month

2 Days on Market

Highlights

  • Wood Flooring
  • Corner Lot
  • Cooling System Mounted To A Wall/Window
  • Garden View
  • Cul-De-Sac
  • Central Heating and Cooling System

About This Home

As of December 2023

Absolutely stunning! This Perfectly Renovated Masterpiece. offers 4 beautiful units in a Historic Apartment setting, From the moment you arrive at this property you will know you are looking at something special. From top to bottom this property is sure to impress. Situated on a private street with plenty of parking will allow your tenants a privacy unmatched in the rental segment. Located in the Historic Central Park neighborhood just down the street from Downtown West Palm Beach. Property is Located directly across the intracoastal of Palm Beach Islands most famous residences. This is a must see for any multifamily investor as it would certainly be the trophy asset in your portfolio. A property like this comes around once in a lifetime. Do not let this opportunity pass you by!

Last Agent to Sell the Property

Cole Leavitt

CPRE Organization Inc License #3238799 Listed on: 09/12/2023

Co-Listed By

Traci Hart

CPRE Organization Inc License #3289042

Last Buyer's Agent

Alexis Waller

Brown Harris Stevens of PB License #3411126

Brown Harris Stevens of PB

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,403

Year Built

  • Built in 1928

Lot Details

  • 5,227 Sq Ft Lot
  • Cul-De-Sac
  • Corner Lot

Home Design

  • Flat Roof Shape
  • Built-Up Roof

Interior Spaces

  • 2,652 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Single Hung Metal Windows
  • Garden Views

Flooring

  • Wood
  • Ceramic Tile
  • Vinyl

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Wall Furnace

Listing and Financial Details

  • Assessor Parcel Number 74434334120000650

Community Details

Overview

  • 4 Units
  • South Palm Beach Estates Subdivision

Building Details

  • Operating Expense $24,240
  • Net Operating Income $99,960

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,403

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Directions: Head East toward the Ocean. Prior to going over intercoastal make left turn onto South Olive. Head North on S. Olive to Lytton Ct. Turn right on Lytton Ct. go to end of street. Property on left side.
  • Year Built: 1928
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built Details: Resale
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Private Spa: No
  • Flooring: Ceramic Tile, Vinyl, Wood
  • Living Area: 2652.0
  • Window Features: Metal, Single Hung

Exterior Features

  • View: Garden
  • Lot Features: Corner Lot, Cul-De-Sac, < 1/4 Acre
  • Pool Features: None
  • Waterfront: No
  • Disclosures: Pet on Property
  • Property Condition: Resale
  • Roof: Built-Up, Flat

Utilities

  • Cooling: Central Air, Ceiling Fan(s), Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Central, Electric, Wall Furnace
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Non-Gated
  • Senior Community: No
  • Association Fee Frequency: Monthly

Lot Info

  • Parcel #: 74434334120000650
  • Lot Size: < 1/4 Acre,Corner Lot,Cu
  • Lot Size Sq Ft: 5227.0
  • Zoning Description: MF20-C1
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Exterior Electric

Multi Family

  • Property Net Operating Income: 99960.0
  • Number Of Units Total: 4
  • Annual Operating Expense: 24240.0

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 10403.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 12, 2023
Closed on
Nov 30, 2023
Sold by
Mejia Alexander and Mejia Karla Loresly
Bought by
Southland Park Llc
Seller's Agent
Cole Leavitt
CPRE Organization Inc
Buyer's Agent
Alexis Waller
Brown Harris Stevens of PB
List Price
$1,299,000
Sold Price
$1,350,000
Premium/Discount to List
$51,000
3.93%
Total Days on Market
2
Views
16
Current Estimated Value
$1,264,995

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$85,005
Avg. Annual Appreciation
-4.24%

Purchase Details

Listed on
Apr 10, 2020
Closed on
Sep 19, 2020
Sold by
Rhoades Victoria
Bought by
Mejia Alexander and Mejia Karla Loresly
Seller's Agent
Linda Cullen
The Corcoran Group
List Price
$549,000
Sold Price
$500,000
Premium/Discount to List
-$49,000
-8.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
36.13%
Original Mortgage
$457,875
Interest Rate
2.9%
Mortgage Type
FHA

Purchase Details

Closed on
Feb 9, 2016
Sold by
Rhoades Victoria
Bought by
Rhoades Victoria

Purchase Details

Closed on
Apr 30, 1998
Sold by
Brooks James and Brooks Janice
Bought by
Restrepo Alicia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
7.03%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 6, 1996
Sold by
Hedrick Charles
Bought by
Brooks James and Brooks Janice

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,000
Interest Rate
7.88%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Southland Park Llc $1,350,000 Old Palm Title
Mejia Alexander $500,000 Trident Title
Rhoades Victoria -- Attorney
Restrepo Alicia $235,000 --
Brooks James $82,500 --
Hedrick Charles $100 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Southland Park Llc $540,000
Previous Owner Mejia Alexander $543,692
Previous Owner Mejia Alexander $457,875
Previous Owner Mullan James $160,100
Previous Owner Hedrick Charles $135,000
Previous Owner Hedrick Charles $66,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/07/2023 12/07/23 Sold $1,350,000 +3.9% $509 / Sq Ft
09/15/2023 09/15/23 Pending -- -- --
09/12/2023 09/12/23 For Sale $1,299,000 +159.8% $490 / Sq Ft
09/17/2020 09/17/20 Sold $500,000 -8.9% $189 / Sq Ft
08/18/2020 08/18/20 Pending -- -- --
04/10/2020 04/10/20 For Sale $549,000 -- $207 / Sq Ft
Source: BeachesMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $23,617 $1,114,183 -- --
2023 $10,393 $425,847 $0 $0
2022 $9,121 $394,071 $0 $0
2021 $7,806 $364,982 $144,000 $220,982
2020 $7,851 $321,851 $144,000 $177,851
2019 $8,063 $369,980 $138,000 $231,980
2018 $6,646 $279,779 $122,045 $157,734
2017 $6,283 $263,860 $106,126 $157,734
2016 $5,943 $243,286 $0 $0
2015 $5,925 $235,924 $0 $0
2014 $5,777 $217,542 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: BeachesMLS

MLS Number: R10918919

BeachesMLS

APN: 74-43-43-34-12-000-0650