Angela & Philip Williams Acquire Lake Worth Beach Multifamily For $700,000

502 North H Street in Lake Worth Beach has been sold in a recent transaction. The multi-family property was sold for a total price of $700,000, with each of the four units valued at $175,000. With a total area of 2,516 square feet, the property had a price per square foot of $278.

Summary of transaction details:

• Property Type: MultiFamily
• Sale Price: $700,000
• Units: 4
• Price per Unit: $175,000
• Square Footage: 2,516
• Price per Square Foot: $278

The buyers of the property were Angela and Philip Williams, while the sellers were Lily and Michael Herzog. Alexis Shapiro, representing ONE Commercial Real Estate, acted as the seller's representative in the transaction.

The sale of 502 North H Street took less than 30 days to close and was an all-cash transaction. This property presented a value-add opportunity, situated close to downtown and beaches. The buyers plan to renovate the property in order to achieve market-rate rent. The property consists of four 1-bedroom, 1-bathroom units, all occupied by tenants on month-to-month leases. It was part of a larger four-property portfolio. Three additional properties from the portfolio are still available, which together offer a total of 22 units. For more information about the remaining properties, interested parties can contact Alexis Shapiro.

Contact details for Alexis Shapiro:
Phone: 954.573.4449
Email: [email protected]