NOT LISTED FOR SALE

618 Highland Ave Lake Worth, FL 33460

Tropical Ridge Neighborhood

Estimated Value: $530,392 - $829,000

6 Beds
3 Baths
2,220 Sq Ft
$290/Sq Ft Est. Value

Last Sold November 08, 2019

Last sale price $350,000 $158 Per Sq Ft

Est. 84% increase in value since last sale

Current estimated payment $4,389/month

33 Days on Market

Highlights

  • Garden View
  • Awning
  • Fenced
  • Ceramic Tile Flooring
  • Central Heating and Cooling System

About This Home

As of November 2019

Great income producing CBS triplex, in the heart of Lake Worth Beach! Two 2 bedroom/1 bath units, and one 1 bedroom/1 bath unit in the middle. Large parking lot with 5 parking spaces. New roof installed 2017. Each unit features newer central a/c units, ceramic tile floor throughout, kitchens updated approximately 5 years ago, and washer/dryer hook-ups in each unit. Current rents are below market: Similar units rent around $1100 - $1200 for 2 bedroom units and $1000 for 1 bedroom. Sellers have owned the property around 30 years. Current tenants would like to stay, pay their own utilities, and are all on a month to month basis. Separate electric and water meters for each unit. Great location, just a couple minutes to I-95, and just minutes from downtown Lake Worth Beach and the beach

Last Agent to Sell the Property

Keith Korpi

Coastal Classic Realty License #3089591 Listed on: 09/05/2019

Last Buyer's Agent

Cesar Torres

Highlight Realty Corp/LW License #3357112

Highlight Realty Corp/LW

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,482

Year Built

  • Built in 1977

Lot Details

  • 6,487 Sq Ft Lot
  • Fenced

Home Design

  • Triplex
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 2,220 Sq Ft Home
  • 1-Story Property
  • Awning
  • Ceramic Tile Flooring
  • Garden Views

Utilities

  • Central Heating and Cooling System
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 38434421100010130

Community Details

Overview

  • 3 Units
  • Highlands Subdivision

Building Details

  • Operating Expense $8,733
  • Net Operating Income $18,960

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,482

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Triplex
  • Property Sub Type Additional: Triplex
  • Directions: I-95 to 10th Ave N exit, go East, turn right on North A St going S, turn right on 7th Ave N, and then left on Highland Ave. Property will be on the left side.
  • Year Built: 1977
  • Unit Levels: One
  • Building Stories: 1
  • Year Built Details: Resale
  • Special Features: VirtualTour
  • Stories: 1

Interior Features

  • Flooring: Ceramic Tile
  • Living Area: 2220.0

Exterior Features

  • Exterior Features: Fence, Awning(s)
  • View: Garden
  • Lot Features: < 1/4 Acre
  • Pool Features: None
  • Waterfront: No
  • Construction Type: Block
  • Property Condition: Resale
  • Roof: Composition, Shingle

Garage/Parking

  • Garage Yn: No

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central, Electric
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Available, Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee Frequency: Monthly

Lot Info

  • Parcel #: 38434421100010130
  • Lot Size Sq Ft: 6487.0
  • Zoning Description: SF-7(c
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Exterior Electric, Water

Multi Family

  • Property Net Operating Income: 18960.0
  • Number Of Units Total: 3
  • Annual Operating Expense: 8733.0

Tax Info

  • Tax Year: 2018
  • Tax Annual Amount: 4482.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 5, 2019
Closed on
Nov 8, 2019
Sold by
Ellis Lloyd G and Ellis Evadney
Bought by
Gutierrez Luis Gonzalo
Seller's Agent
Keith Korpi
Coastal Classic Realty
Buyer's Agent
Cesar Torres
Highlight Realty Corp/LW
List Price
$365,000
Sold Price
$350,000
Premium/Discount to List
-$15,000
-4.11%
Current Estimated Value
$643,131

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$293,131
Avg. Annual Appreciation
10.00%
Original Mortgage
$343,660
Outstanding Balance
$306,501
Interest Rate
3.65%
Mortgage Type
FHA
Estimated Equity
$296,138
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
Gutierrez Luis Gonzalo $350,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gutierrez Luis Gonzalo $343,660
Previous Owner Ellis Lloyd G $250,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/08/2019 11/08/19 Sold $350,000 -4.1% $158 / Sq Ft
10/09/2019 10/09/19 Pending -- -- --
09/05/2019 09/05/19 For Sale $365,000 -- $164 / 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 $9,927 $370,669 -- --
2023 $8,838 $336,972 $0 $0
2022 $8,555 $306,338 $0 $0
2021 $7,967 $306,750 $101,400 $205,350
2020 $7,220 $253,172 $89,700 $163,472
2019 $4,958 $225,337 $81,900 $143,437
2018 $4,482 $202,265 $77,469 $124,796
2017 $4,052 $157,923 $55,335 $102,588
2016 $3,736 $95,674 $0 $0
2015 $3,568 $86,976 $0 $0
2014 $3,453 $79,069 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Keith Korpi

    Seller's Agent in 2019

    Keith Korpi

    Coastal Classic Realty

    (561) 523-2624

    2 in this area

    117 Total Sales

    Keith Korpi
    Section Image
  • Cesar Torres

    Buyer's Agent in 2019

    Cesar Torres

    Highlight Realty Corp/LW

    (561) 641-6787

    12 Total Sales

    Cesar Torres
    Section Image
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Map

Source: BeachesMLS

MLS Number: R10558670

BeachesMLS

APN: 38-43-44-21-10-001-0130

Florida Palm Beach County Lake Worth 33460 Tropical Ridge

618 Highland Ave, Lake Worth, FL

This home is located at 618 Highland Ave, Lake Worth, FL 33460 since 05 September 2019 and is currently estimated at $643,131, approximately $289 per square foot. This property was built in 1977. 618 Highland Ave is a home located in Palm Beach County with nearby schools including Highland Elementary School, Lake Worth High School, and Lake Worth Community Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

BeachesMLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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